In This Issue:
- VOLVO AGREES TO $1.5 MILLION LATE DEFECT REPORTING PENALTY. LARGER PENALTIES ON THE HORIZON. by Richard A. Wilhelm:
NHTSA’s safety defect reporting regulations require manufacturers of motor vehicles and motor vehicle equipment to report safety-related defects and noncompliance with safety standards within 5 working days of determining that such a defect or noncompliance exists. On July 3, 2012 Volvo agreed to pay a $1.5 million civil penalty for late reporting of safety defects...
- LOGISTICS, FREIGHT BROKERS AND SHIPPING AGREEMENTS: HELPFUL TIPS TO AVOID CLAIMS AND LITIGATION by John E. Anderson, Sr. and Rodney D. Butler:
Use of freight brokers has become increasingly common in recent years. These third party companies can provide valuable services to assist you in finding cost effective alternatives for your shipping needs. Thus, the question seems to arise as to “How does one find a reputable broker or freight forwarder?” This article will provide some insight into the areas to examine when searching for a reputable freight broker as well as some general comments regarding transportation agreements...
- CONFLICT MINERALS UPDATE By J. Bryan Williams:
As we commented on last year, the Dodd-Frank Act (the “Act”) was signed into law on July 21, 2010. Section 1502 of the Act was included to help curb violence and other human rights violations in the Democratic Republic of Congo (the “DRC”) and neighboring countries (Angola, Burundi, Central African Republic, Congo Republic, Rwanda, Sudan, Tanzania, Uganda, and Zambia) (collectively the “DRC countries”).
Under Section 1502 of the Act, a public company that manufactures products using conflict minerals must disclose the source(s) of its conflict minerals on its website and in annual reports filed with the SEC....
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