October 3 Local time, The U.S. federal judge in Texas said ZTE violated the suspended penalty, decided to extend the test period until 2022.
ZTE also issued a notice at HKEx on October 4, saying that the US court had revised its monitoring conditions for the COMPANY.
A federal judge in texas, October 3, ruled that ZTE had violated the reprieve Rule.
ZTE pleaded guilty to the illegal sale of American goods to Iran in 2017 in violation of U.S. sanctions and accepted a reprieve from the United States.
According to the ruling, the company provided false statements about the 35 employees who punished the violation and violated the suspended penalty rules.
In this order, the judge extended the term of his appointed supervisor to 2022 (the supervisor was scheduled to end in 2020) to assess whether ZTE was in compliance with U.S. export control Laws. This April, the U.S. Department of Commerce banned the sale of components to ZTE by banning US suppliers from selling Them.
ZTE and the U.S. Commerce Department reached a settlement this summer on these false statements, which was lifted in July. October 4, The ZTE Exchange issued a notice, due to the company, affiliated Shenzhen ZTE Electronics Co., Ltd. and the U.S. Department of Commerce Industry and Security Bureau in June 2018, the action of the Alternative settlement agreement (SSA), Texas North American District Court on October 3, 2018 (us Time) To issue an order amending the conditions of monitoring of the company as set out in the agreement approved by the Court on March 22, 2017.
The Court's amendments to the monitoring conditions include the following main provisions:
Extend the term of office of an Ombudsman appointed by the court until March 22, 2022;
The Ombudsman is granted the same rights as the special Compliance Coordinator agreed by the ssa, and can be contacted with the specific documents, information, facilities and personnel associated with the Export Control Reform Act of 2018, the Export Administration Regulations and the Order.
October 4, ZTE HKEx issued a notice Last year, ZTE pleaded guilty to a federal court in the United states, admitting it was violating U.S. sanctions against Iran and illegally transporting U.S. goods and technology to iran, when ZTE reached a settlement with the US Government. According to the settlement agreement, ZTE paid $890 million in fines to the US government in March 2017 and was faced with additional penalties of $300 Million.