Rapid Fire: 2010-12-07

• USNI Blog: Pearl Harbor – 69 years later.

• Japan to adopt new deterrence strategy against China in first revision of its National Defense Program Guideline in 6 years.

• Australian Department of Defence is asking for industry help in developing a cybersecurity reporting system.

• A Farewell to Arms: The Royal Australian Air Force (RAAF) bids farewell to F-111s fighter jets, which are being retired from the RAAF fleet.

• Research and Markets: Israeli defense spending is predicted to grow at 3.7% per year, reaching $15.8 billion by 2015.

• May the Force be with you: “Face of Allah” weapon could use hologram technology from Star Wars.

• CACI gets $25 million task order to support the US SOCOM’s PEO for Special Operations Forces Warrior Systems under the $1.5 billion Global Battlestaff and Program Support (GBPS) contract.

The Iran Sanctions Landscape & Corporate Risk Management

Guest Article by Mike McNamara, Michael Zolandz, Peter Feldman & Jeffrey Krilla.

Among many sobering revelations coming out of the latest Wikileaks document dump – another quarter-million pages of classified documents posted – is that absolutely everyone is worried about Iran. The confidential cables reveal the extent to which government officials, analysts, diplomats and heads of state fear that containment of Iran’s nuclear ambitions has become an insoluble problem. For businesses engaged in foreign trade, and defense sector businesses in particular, the Iranian conundrum only heightens the need to comply with reinforced sanctions against doing business with the Islamic Republic.

In this article, members of the Public Policy & Regulatory practice at law firm SNR Denton take a deep dive into the political and enterprise risk management issues surrounding Iranian sanctions regimes. Non-compliance is no small matter, regardless of how tenuous or arm’s length a company’s connections with Iran. “As the nature of risk evolves, it is critical that the way companies monitor and evaluate risk adapts to the new landscape.” Welcome to the brave new world of global compliance, where the consequences of even an inadvertent failure can be especially heavy for defense sector firms…

• Categories of Risk
  
• Best Practices and Global Compliance Strategy
  
• The Architecture of Iran Sanctions
  
• Category 1: United Nations Security Council Sanctions
  
• Category 2: European Union and Other National Sanctions Regimes
  
• Category 3: United States Sanctions
  
• The Comprehensive Iran Sanctions, Accountability and Divestment Act (CISADA)
  
• Key Provisions: Banking relationships
  
• Key Provisions: Energy sector
  
• Key Provisions: Reports and Notifications
  
• Iran Sanctions Enforcement Trends
  
• Compliance Considerations