BIS Imposes $27,000 Civil Penalty on Foreign Subsidiary of U.S. Company for Violating Antiboycott Regulations
The U.S. Department of Commerce's Bureau of Industry and Security (BIS) announced today that Cooper Tools Industrial Ltda. (CTIL), a wholly-owned Brazilian subsidiary of Cooper U.S., Inc., a Delaware Corporation, agreed to pay a $27,000 civil penalty to settle allegations it committed fifteen violations of the antiboycott provisions of the Export Administration Regulations.
In its charging letter, BIS's Office of Antiboycott Compliance alleged that CTIL furnished fifteen items of prohibited information about business relationships with Israel to persons in Kuwait and the United Arab Emirates.
BIS stated that CTIL voluntarily disclosed the transactions and cooperated fully with the subsequent investigation.This is the third antiboycott penalty imposed by BIS in 2007.
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