Aeroflex To Pay $8M Over Alleged Export Control Breaches

Law360, New York (August 12, 2013, 1:15 PM EDT) -- Microelectronics maker Aeroflex Inc. has agreed to pay $8 million over claims it violated U.S. export controls on defense-related products and technical data, the U.S. Department of State said Friday.

Plainview, N.Y.-based Aeroflex reached a two-year consent agreement with the State Department, which found that the company failed to properly oversee goods subject to controls under the Arms Export Control Act and International Traffic in Arms Regulations, the government said in a statement. The alleged oversight defficiencies led to “numerous violations” of the AECA and ITAR...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.