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UPS: MULTI-MILLION PENALTY FOR UNFAIR EARNINGS DISCLOSUREWTC: PUNISHEDVW: UNDER PRESSUREKNIN: APAC LEADERSHIP WATCHZIM: TAKING PROFITPEP: MINOR HOLDINGS CONSOLIDATIONDHL: GREEN DEALBA: WIND OF CHANGEMAERSK: BULLISH CALLXPO: HEDGE FUNDS ENGINEF: CHOPPING BOARDWTC: NEW RECORDZIM: BALANCE SHEET IN CHECKZIM: SURGING
UPS: MULTI-MILLION PENALTY FOR UNFAIR EARNINGS DISCLOSUREWTC: PUNISHEDVW: UNDER PRESSUREKNIN: APAC LEADERSHIP WATCHZIM: TAKING PROFITPEP: MINOR HOLDINGS CONSOLIDATIONDHL: GREEN DEALBA: WIND OF CHANGEMAERSK: BULLISH CALLXPO: HEDGE FUNDS ENGINEF: CHOPPING BOARDWTC: NEW RECORDZIM: BALANCE SHEET IN CHECKZIM: SURGING
European regulators have, seemingly, postponed implementation of elements of the EU’s new Import Control System 2 (ICS2) without informing industry at large.
News filtered out late last week pointing to a revised schedule for ICS2 applicability to ocean shipments, with deadlines for vessel operators moved from 1 March 2024 to 3 June, and to 4 December for House Bill filers.
Efforts by The Loadstar to find a direct announcement from the EC confirming/providing a reason for the postponements drew a blank.
But cloud-based compliance software provider Trade Tech, the source of reports, confirmed the delays were accurate. President Bryn Heimbeck told The Loadstar: “You cannot find a clear announcement of delay from the EU.
“It’s a complicated organisation, made up of 27 member countries and, therefore, 27 different customs agencies – imagine getting a sign-off from them for the delay announcement.”
Although ICS2’s introduction was largely welcomed by industry for its provision of “better-quality data pre-departure”, its staged implementation process raised eyebrows, with the secretary general of the European Shippers Council, Godfried Smit, noting “it is not going smoothly”.
The first phase, for 2021, required air carriers, couriers and forwarders moving goods to or through the EU to file Entry Summary Declaration data before their arrival at an EU border.
Its second phase introduced more data requirements and processes for those moving goods from third countries, although there were provisions for operators seeking a temporary delay on compliance.
Flexport UK customs manager Jamie Houlihan told The Loadstar that ICS’s introduction did bring “some challenges and a new way of working” for importers.
Meanwhile, Trade Tech stressed that it was committed to keeping its clients up to date on the approaching deadlines for mandatory filing dates, with Mr Heimbeck noting that the team has “been close to the ICS1 filing since it began”.
“Our established infrastructure and processes for global security filings like AMS, ISF and readiness for ICS2 demonstrates our capability and commitment to lead our clients through this regulatory evolution smoothly.”
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