Cloudflare, Doing IPO, Reports It May Have Broken US Sanctions
Cybersecurity company Cloudflare submitted “incorrect information” on hardware exports to the Commerce Department and received payments from people and entities on a sanctions list of foreigners, it told the SEC this month. It voluntarily disclosed possible violations to the Bureau…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
of Industry and Security and Office of Foreign Assets Control this year. It took “remedial measures” to prevent future violations, and agencies are reviewing the potential violations, the company said. The firm said it sells products to “certain OFAC-sanctioned regions” through the use of general licenses. The company didn't comment further Friday. The SEC filing involved an initial public offering, which the agency acted on Thursday, the firm said then. In the first day of trading in U.S. markets under the NET ticker Friday, shares closed up 20 percent at $18.