EU and UK Sanctions Update: Compliance Implications for Corporations in Europe and Beyond


Warning: simplexml_load_file(https://api.litmos.com/v1.svc/users/?apikey=3B47E4B8-2DA6-4832-B82F-D81ABAE7110A&source=sampleapp): failed to open stream: HTTP request failed! HTTP/1.1 404 Not Found in /home/stsalert/public_html/wp-content/themes/Divi-child/functions.php on line 18

Warning: simplexml_load_file(): I/O warning : failed to load external entity "https://api.litmos.com/v1.svc/users/?apikey=3B47E4B8-2DA6-4832-B82F-D81ABAE7110A&source=sampleapp" in /home/stsalert/public_html/wp-content/themes/Divi-child/functions.php on line 18

On Demand Webinar

image

Overview:

For corporates doing business internationally, it is vital to realize that even if a business complies with the high standards set by U.S. sanctions, it does not automatically mean the same business will comply with E.U. sanctions.

Is your sanctions/export controls program prepared for these nuances and discrepancies?

Many countries, such as: Egypt, Tunisia, Azerbaijan and Armenia, are targeted by E.U. sanctions but not by U.S. sanctions. Similarly, there can be individuals that are targeted by E.U.“designated parties” regimes, but are not simultaneously listed as U.S.Specially Designated Nationals (SDNs). Furthermore the E.U.controls software and technology in connection with certain markets that the U.S.does not.In fact, recently, the E.U. has adopted more custom-built measures, which target specific sanctioned ‘sweet spots’ within a country, e.g. the energy sector in Iran and Syria, or the banking/ energy/defense sectors in Russia.

As a sanctions/export controls officer, you can no longer rely on a common set of global rules and need to know the details of targeted or custom-made measures in order to avoid hefty penalties.

In this SanctionsAlert.com webinar, our expert panel will cover current trends and compliance challenges related to E.U. and U.K. sanctions, and provide practical tips for compliance. Experts will also cover emerging trends and what may be on the horizon, including:

  • How to deal with divergence issues: U.S. v.s. E.U.;
  • Varying enforcement trends among E.U. member states and what to expect from the role of U.K.’s new Office of Financial Sanctions Implementation (OFSI);
  • What may be on the horizon with respect to Brexit and what can a business do now to prepare for post-Brexit licensing and other sanctions issues;
  • Understanding Iran and the JCPOAunder E.U. sanctions;
  • Whether there be a softening of E.U. sanctions against Russia or a continuing of the status quo;
  • Whether there will be a progressive tightening of sanctions against North Korea;
  • Whether the new E.U. sanctions against Venezuela will remain limited or expand in scope to become more like U.S. sanctions;
  • The role of banks and use of EU vs. US or other currency;
  • Use of contractual techniques such as governing law, special export controls/sanctions clauses;
  • In- house sanctions compliance measures, such as policy, training and due diligence and third party risk management;
  • The practical compliance and risk management issues that corporates are facing and best practices that you can adopt to stay in compliance;
Iran

Date Aired: 

March 22, 2018

Duration: 

75 minutes

Speakers

Nadiya Nychay
Oliver Powell
Jan J.H. Verloop

Webinar Recorded Video

Iran

Date Aired: 

January 11, 2017

Duration: 

75  minutes

Speakers

John S. Karansky
Timothy R. White

Sanctions Essentials: Connecting the Dots Between Sanctions and AML


Warning: simplexml_load_file(https://api.litmos.com/v1.svc/users/?apikey=3B47E4B8-2DA6-4832-B82F-D81ABAE7110A&source=sampleapp): failed to open stream: HTTP request failed! HTTP/1.1 404 Not Found in /home/stsalert/public_html/wp-content/themes/Divi-child/functions.php on line 18

Warning: simplexml_load_file(): I/O warning : failed to load external entity "https://api.litmos.com/v1.svc/users/?apikey=3B47E4B8-2DA6-4832-B82F-D81ABAE7110A&source=sampleapp" in /home/stsalert/public_html/wp-content/themes/Divi-child/functions.php on line 18

On Demand Webinar

image

Overview:

The overlap between Anti-Money Laundering (AML) and sanctions has always been undeniable. In the last 10 years, however, sanctions have emerged as a unique and separate area of compliance carrying heavy civil as well as criminal penalties for failure to comply.

Today, no compliance program is complete without taking AML and sanctions rules into consideration, and ensuring that you and your team fully understands the important convergence between these two regulatory hurdles.

This webinar will provide a practical approach to the similarities and differences between AML and Sanctions rules, as well as what a company can do to stay fully compliant with both compliance models.

Join this live SanctionsAlert.com course and learn:

  • BSA/AML Examination Manual and its role in OFAC compliance program examinations
  • What goes in a blocking/reject report vs. what goes in a suspicious activity report
  • The overlap of sanctions and AML controls concerning activity by designated terrorist groups, militias, and other organizations
  • How to ensure your sanctions and AML teams communicate appropriately with each other (and avoid common misunderstandings)
  • NYDFS Part 504 and how AML concepts are increasingly being applied to sanctions compliance
  • Tools at the disposal of FinCEN, including Section 311 of the USA Patriot Act, which contains a “Trade Sanctions” provision in section 221 of Title II “Enhanced Surveillance Procedures”
  • The intersection between FinCEN’s CDD rule and OFAC’s 50% rule
  • How Section 206 of the International Emergency Economic Powers Act (Title 50, US Code Sec. 1705) is among the 200 “Specified unlawful activities” (SUAs) that can serve as a predicate to a U.S. AML prosecution by DOJ
Iran

Date Aired: 

February 22. 2018

Duration: 

75 minutes

Speakers

Carlton Greene
Tyler Hand

Lessons Learned From the ZTE Case


Warning: simplexml_load_file(https://api.litmos.com/v1.svc/users/?apikey=3B47E4B8-2DA6-4832-B82F-D81ABAE7110A&source=sampleapp): failed to open stream: HTTP request failed! HTTP/1.1 404 Not Found in /home/stsalert/public_html/wp-content/themes/Divi-child/functions.php on line 18

Warning: simplexml_load_file(): I/O warning : failed to load external entity "https://api.litmos.com/v1.svc/users/?apikey=3B47E4B8-2DA6-4832-B82F-D81ABAE7110A&source=sampleapp" in /home/stsalert/public_html/wp-content/themes/Divi-child/functions.php on line 18

On Demand Webinar

image

Overview:

In recent times, OFAC enforcement actions have significantly increased against non-financial institutions, particularly in IT/telecoms. On March 7, 2017, three U.S. regulators – the Department of Treasury’s Office of Foreign Assets Control (OFAC), the Department of Commerce’s Bureau of Industry and Security (BIS), and the Department of Justice (DOJ) – entered into a coordinated settlement with Zhongxing Telecommunications Equipment Corporation (ZTE), in which the company agreed to a record-breaking combined $1.19 billion in civil and criminal penalties for knowingly shipping illegal telecommunications equipment to Iran and North Korea in violation of U.S. sanctions law.

The fines imposed by the regulators represent the largest penalty ever imposed by BIS, and the largest ever imposed by OFAC against a non-financial entity.

This webinar will provide a practical approach as to what a company should do (or should not do) to avoid a fate like that of ZTE and, if penalized, what can be done to regain reputation in your industry and in the eyes of the regulator.

Join this live SanctionsAlert.com course and learn:

  • Details of what happened between 2012 and 2017 when ZTE reached settlement with OFAC;
  • Process of Entity Listing / Temporary General License Process;
  • How to progress from Entity List to Industry Leading;
  • Key challenges for a foreign company complying with U.S. export controls and sanctions laws; and
  • Best practices during a monitor/auditor process after settlement.
Iran

Date Aired: 

January 25 2018

Duration: 

60 minutes

Speakers

Matt Bell