RAPAPORT… The U.S. Treasury will enforce two new amendments to the Clean Diamond Trade Act that will affect rough diamond importers and exporters’ businesses. Amendments cover data collection for the import and export of rough diamonds in the U.S. to support obligations under the Kimberley process.
To help you understand these new amendments, the Jewelers Vigilance Committee (JVC) is presenting “Training for Rough Diamond Traders: U.S. Statutory Requirements” at the JA/NY Summer Show, Jacob Javits Convention Center, Monday, July 28, 2008, 10:30 a.m. – 12:00 noon, meeting room 1E03.
Training will cover new procedures diamond traders must follow, including mandatory requirements of “formal entry for consumption” documents and for filing an annual report in the U.S. The e-mail address for filing both reports is [email protected]. Failure to file the annual report can expose a rough diamond importer or exporter to a civil fine of $10,000 for each instance of non-compliance, or criminal penalties of up to $50,000 in fines and 10 years imprisonment.
Training will be conducted by representatives from Sue Saarnio, U.S. State Department, representatives from the U.S. Departments of Customs and Census, and Cecilia Gardner, JVC’s president, CEO, general counsel. There will be a Q&A period. Training is sponsored by JVC and the United States Kimberley Process Authority (USKPA).
Cecilia Gardner, president and CEO of the JVC (and director of the US Kimberley Process Authority,) said, “This effort to improve the data gathered on imports and exports of rough diamonds will further strengthen the US industry’s efforts to end the trade in conflict diamonds. To avoid liability, rough diamond importers and exporters are urged to attend. Attendance at this training is vital to avoid liability or government enforcement actions.”
Saarnio, who is special advisor for conflict diamonds, U.S. Department of State, said, “The data contained in the annual reports filed by rough diamond traders is protected by U.S. privacy laws and will not be subject to disclosure. The new regulations will enhance our statistical data gathering and reporting for purposes of complying with our obligations under the Kimberley Process.”
The efforts to facilitate data collection of rough in the United States also meets the industry’s goal of improving implementation of the Kimberley Process, added Eli Izhakoff, chairman and CEO of the World Diamond Council.
Attendees will receive written guidance prepared by the U.S. State Department, “The Essential Guide to Implementing the Kimberley Process,” prepared by World Diamond Council, “Guidance on Trading with the European Community (EC)” and an updated list of diamond government office contacts.
Registration for this training session is not required. Refreshments will be served.