GlobalFoundries fined $500K for violating US sanctions

The US Department of Commerce is issuing a half a million dollar penalty against US-based semiconductor wafer manufacturer GlobalFoundries for violating sanctions and sending chips to SJ Semiconductor (SJS), an affiliate of a blocklisted Chinese chipmaker. The banned chipmaker? Semiconductor Manufacturing International …

[Andy Non]

So

$1/2 million fine for selling $17 million. Sounds like a simple cost of doing business, hardly a deterrent.

[amanfromMars 1]

Re: So @Andy Non

$1/2 million fine for selling $17 million. Sounds like a simple cost of doing business, hardly a deterrent. ..... Andy Non

I imagine Mubadala//Global Foundries would barely recognise the pitiful sum as payment for anything other than as an expense and a warning to wannabe government gangsters to behave themselves and play nicely.

[Anna Nymous]

Re: So

I am always surprised that these fines never start with a "forfeiture of all revenue(*) originating from the illegal behavior".

That being said, I would like that to be then followed up on with "on top of that forfeiture a fine of a percentage (say 5 percent or so) of the average of the annual revenue reported for the duration of the illegal activities, as reported to its shareholders and public markets, levied per year the illegal activities occurred"

But I know, I know... now I'm being all unrealistic and such...

(*) NOT profit

[amanfromMars 1]

So, for Virtual Realities to Grow and Profit in Prosperity rather than Die in Austerity ...

I am always surprised that these fines never start with a “forfeiture of all revenue(*) originating from the illegal behavior”. ..... Anna Nymous

It is not at all surprising, Anna Nymous, whenever you realise that regulations and markets are a rigged game for printed fiat currency distribution which aids and abets the continued survival and acceptance of the Grand Devisive Illusion and Great Elusive Delusion that is pimped and pumped and dumped as an evolving human existence rather than simply recognised as Advanced IntelAIgent Machine Command with Remote Anonymous Autonomous Information Technology Control.

But you’re all getting there ..... slowly and surely ..... with some way out ahead of all others and making a killing and staking claims which would put the Wild Wacky West of yore to shame. Wide Boys and Profiteers, Carpet Baggers and Entrepreneurs and an Alien Breed ‘R’ Us.

That’s an exclusive scoop, El Reg, to try to plausibly deny you know anything about whenever evidence is liable to surface proving the contrary. Embrace it and enjoy the Harry Limelight.

[amanfromMars 1]

Re: So, for Virtual Realities to Grow and Profit in Prosperity rather than Die in Austerity ...

RSVP ..... for whilst the silence is deafening it is also extremely revealing zero opposition or competition in fantastically engaging opportunities to expand and exploit in novel situations well worth publishing to avoid being just a helpless and hopeless spectator in what the future is able to plan and present to you for universal edutainment.

[EricB123]

Re: So, for Virtual Realities to Grow and Profit in Prosperity rather than Die in Austerity ...

Maybe you could add an occasional period?

[Mikerahl]

The penalty should be 5% of annual worldwide revenue for each violation with no upper limit.