Earth Imaging Company Discloses Possible Export Breach to BIS
Planet Labs, a California-based Earth imaging company, disclosed this month that it has submitted a voluntary self-disclosure to the Bureau of Industry and Security about potential export control violations.
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The company has “from time to time” submitted voluntary self-disclosures to BIS for possible violations of the Export Administration Regulations, “including one disclosure concerning, among other things, inadvertent access being provided to certain of our EAR-controlled technology/software prior to obtaining proper export licenses for such access,” Planet Labs said in its most recent quarterly SEC filing, released Sept. 8. The company said it doesn’t “expect BIS to take enforcement action against us,” but it’s “unable to reasonably estimate the time it may take to resolve these matters or the amount or range of potential loss, penalty or other government action, if any, that may be incurred.”
Planet Labs also said it’s working to improve its compliance program.
“While we are in the process of further enhancing our policies and procedures relating to export control and sanctions compliance, we cannot assure you that such policies and procedures will prevent future violations, and any failure by us or our partners to comply with such laws and regulations could have negative consequences for us, including reputational harm, government investigations and penalties and adversely affect our business,” it said.