The rush is on for trade and travel with Cuba, but the US trade embargo and numerous legal restrictions remain in place. Under this complex regulatory scheme, you could find great business opportunities but still face costly fines and penalties for violating existing laws. Since President Obama renewed relations with Cuba and subsequent to his recent trip there, the Office of Foreign Assets Control (OFAC) and the Bureau of Industry and Security (BIS) have issued a series of new liberalization measures. These new rules, including new BIS license exceptions and licensing policies plus new OFAC general licenses, could open trade significantly for some business sectors, but to take advantage of these changes you need to know how these rules work and what you can do to begin exporting to Cuba, conducting sales and marketing operations, financing your exports and shipping your goods to Cuba.
To help you navigate these complex new rules, The Export Practitioner is sponsoring a timely 90-minute audio-conference briefing featuring two trade and legal experts, WilmerHale Senior Counsel Ronald Meltzer and O'Melveny & Myers Partner Greta Lichtenbaum, who will explain how you can benefit from these major regulatory changes, what conditions come with them, what trade remains prohibited and how your export compliance program needs to be updated to avoid remaining pitfalls.