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Conflict Minerals Disclosure Requirement

The U.S. Securities and Exchange Commission (“SEC”) has published a final rule implementing Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) relating to “conflict minerals” from the Democratic Republic of Congo (“DRC”).

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Customs Announces The Broker Self-Assessment (Bsa) Pilot Program

CBP is initiating a new initiative called the Broker Self-Assessment (BSA) Outreach Pilot (BSA Pilot)~ The BSA Pilot is a voluntary program and is intended to be a partnership between U.S. Customs and Border Protection (CBP) and participating customs brokers. The BSA Pilot will allow participating customs brokers to assess their own compliance with statutory and regulatory requirements and provide recognition and support to participating brokers. Under the program test, participating customs brokers will demonstrate their internal controls, perform periodic testing of internal controls, and disclose to CBP deficiencies discovered through testing. The BSA program will utilize many of the self-assessment principles of the ISA program. Like the ISA program, CBP believes that the BSA program will facilitate legitimate trade so that CBP can focus its efforts on higher-risk trade enforcement issues.

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Customs Issues for the Fashion Industry

On Wednesday, September 5, 2012, Frances P. Hadfield will be presenting at a CLE panel sponsored by the New York County Lawyers’ Association (NYCLA) regarding customs issues for the Fashion Industry.

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U.S. - China "Knit-To-Shape" Quota Exemption

The recently concluded U.S. – China textile agreement provides that certain knit-to-shape garments classifiable within quota categories 338/339 and 638/639 are exempt from quota. The quota exempt items are described as follows:

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President Signs Legislation Impacting AGOA, DR-CAFTA and Burma

On August 10, 2012, the President signed H.R. 5986 into law. Highlights of the new law include the following:

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