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FOR IMMEDIATE RELEASE	BUREAU OF INDUSTRY AND SECURITY
Thursday, November, 01, 2007	Office of Public Affairs
www.bis.doc.gov	202-482-2721

BIS Welcomes The International Emergency Economic Powers Enhancement Act Provisions

Under Secretary of Commerce for Industry and Security Mario Mancuso issued the following statement on the International Emergency Economic Powers (IEEPA) Enhancement Act signed into law by President Bush.

"We welcome the enhancements provided by Congress and President Bush,” said Under Secretary of Commerce for Industry and Security Mario Mancuso. “The new law provides significant additional support for our cases, which we intend to apply in an equitable, deliberative and rigorous way. Most important, we think the enhancements will better align incentives to improve overall compliance with our regulations."

The significant changes provided under the Act include:

Additional Unlawful Acts: Section 206(a) of IEEPA is amended to clarify that civil penalties may be assessed against those who conspire to violate, or cause a violation of any license, order, regulation, or prohibition of title 50 of the United States Code.

Administrative Penalties: A civil penalty amounting to the greater of $250,000, or twice the value of the transaction that is the basis of the violation (Enhanced Penalties), may be imposed for each violation of IEEPA.

Effective Date/Retroactivity: The new civil penalties apply to enforcement action that are pending, which BIS interprets an action to be if a Final Order has not been signed, or commenced on or after October 16, 2007.

Criminal Penalties: Violators can be fined up to $1,000,000 and/or up to 20 years in prison. Additionally, criminal liability is provided for anyone who “willfully conspires to commit, or aids or abets in the commission of” an unlawful act described in the statute.

Effective Date: The new criminal penalties apply to criminal enforcement actions commenced on or after October 16, 2007.

Background:
On October 16, 2007, President Bush signed into law the International Emergency Economic Powers (IEEPA) Enhancement Act, Public Law No. 110-96, amending IEEPA section 206. The Act enhances administrative and criminal penalties that can be imposed under IEEPA and also amends IEEPA to clarify that civil penalties may be assessed for certain unlawful acts.