Beyond List Matching: Compliance with Sectoral Sanctions
Date: Thursday, August 30, 2018
Time: 12:00 PM – 01:15 PM EST, 05:00 PM – 06:15 PM London
06:00 PM – 07:15 PM Amsterdam
In recent times, non-list based sanctions have taken center stage in the compliance world. Since July 2014, the U.S. government has begun to utilize an entirely new breed of sanctions regime known as “sectoral sanctions”. These non-list based sanctions, such as those broadly imposed on Venezuelan ‘new debt’ or Russian trade, aim to limit certain sectors of a country’s economy from gaining access to U.S. capital markets. The U.S. Treasury has also created a Sectoral Sanctions Identifications (SSI) List, which is now arguably just as important as OFAC’s Specially Designated Nationals (SDN) List.
In order to fully comply with international sanctions regulations, compliance suites must now go far beyond simple alert checks and day-to-day list matching.
In this SanctionsAlert.com webinar, our expert speakers will discuss the importance of incorporating non-list based activities into your sanctions program as well as the key items your company needs to know in order to comply with recent sectoral sanctions.
You will learn:
- How to create a comprehensive non-list based approach to sanctions compliance;
- Today’s key sectoral sanctions regimes as well as what financial institutions need to know in order to stay compliant;
- Examples and case studies of other activities-based sanctions not related to any list (e.g. Venezuelan ‘new debt’).
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Certificate of Attendance
If you participate in the live webinar, you will receive a Certificate of Attendance, which you can use to show you meet your government-required training duties.
Steptoe & Johnson, LLP
Peter’s practice focuses on US economic sanctions and export controls, including the sanctions regulations of the Treasury Department’s Office of Foreign Assets Control (OFAC), and the export control regulations of the Departments of Commerce and State. He counsels clients on compliance, transactions, licensing, jurisdiction and classification assessments, disclosures, and regulatory and enforcement actions. He has represented persons facing US criminal charges or under criminal investigation for export controls and sanctions violations. The Vice Chair of the American Bar Association’s Export Controls and Economic Sanctions Committee of the International Law Section, he frequently writes about this broad field.
Former Managing Director and the Global Economic Sanctions Executive
Bank of America Corporation
Clay is an independent consultant specializing in economic sanctions matters, assisting clients in a variety of industries navigate the challenges of fast-changing requirements. Prior to starting his consultancy, from 2009 to 2017 Clay was Managing Director and the Global Economic Sanctions Executive for Bank of America Corporation, responsible for the company’s economic sanctions and anti-boycott compliance efforts, as well as a stint leading its anti-bribery / anti-corruption and Code of Ethics programs. From 2007-2009 Clay had responsibility for economic sanctions compliance at Merrill Lynch. And from 1999-2007, Clay served with the Department of the Treasury’s Office of Foreign Assets Control (OFAC), working first in the Compliance Division and later what is now the Office of Global Targeting, the group responsible for OFAC’s sanctions designation activities. Among his roles while at OFAC, Clay served as the first Chief of the Counter-proliferation Section within the then-Designation Investigations Division where he led a team of sanctions investigators charged with targeting the assets of weapons of mass destruction proliferators and their support networks, with particular focus on North Korea and Iran. Clay received his BA from the George Washington University and his MA from the Johns Hopkins University’s School of Advanced International Studies.
SanctionsAlert.com typically requests CAMS (Certified Anti-Money Laundering Specialist – ACAMS) and CAFP (Certified Anti-Money Laundering and Fraud Professional -ICB) credits for its live webinars. Please send us a message if you wish to confirm which credits have been obtained.
Anna Sayre, Legal Content Writer, SanctionsAlert.com
Bank of America
“Great knowledge from the presenters and the content was relevant”
— José R. Fernandez, Bank of America – Charlotte, NC, USA
“Great coverage of information”
— Cathy Swindell-Smith, Wells Fargo – Charlotte, NC, USA
Axa Equitable Life Insurance Company
“It was very informative. The speakers were clear and the information was disseminated in a clear, concise manner.”
— Nicolette Douglas, Axa Equitable Life Insurance Company – New York, NY, USA
“The content was excellent and easy to understand. The presenters did a great job!”
— Susan Wilson, RBC – Toronto, Canada
“Both speakers were exceptionally knowledgeable and provided practical information regarding the sanctions changes”
— Adam Hermes, Comerico Bank – Livonia, USA