Date: Thursday, March 22, 2018
Time: 16:00 PM – 17:15 PM CET
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;
In accordance with the International Compliance Association (ICA) protocols, ICA awards CPD points to SanctionsAlert.com webinars on the basis of the learning hour. For a webinar of 75 minutes, this means 1.25 CPD points.
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Partner at Dentons
Ms. Nychay is a Partner in the Brussels office of Dentons, and an expert on international trade law, dispute resolution, including in the WTO, and regulatory matters. In her practice, Ms. Nychay draws on more than 15 years of experience in leading international law firms and as a legal officer at the WTO secretariat. She has built a strong sanctions-compliance practice, which has been recognized by the Legal 500. She frequently counsels clients on the practical implications of the EU and UN sanctions on transactions relating to Iran, Syria, Russia and North Korea, appearing before regulatory authorities in the EU Member States. She has provided legal advice and analysis concerning the 2015 Iran nuclear deal (i.e. JCPOA), and the Ukrainian sanctions on Russia. She advised a leading European medical supplies and pharmaceutical company on FCPA compliance, EU export controls and sanctions compliance. She advised a leading Turkish agricultural company on EU sanctions compliance in the context of agricultural imports to sanctioned jurisdictions, and advised leading financial institutions, investment and wealth management companies on sanctions compliance. She speaks English, French, German, Italian, Polish, Russian, Spanish, and Ukrainian.
Anna Sayre, Legal Content Writer, SanctionsAlert.com
Expert in civil and criminal “cross-over” work
Deputy High Court Judge
Head of Outer Temple Chambers
Michael Bowes QC is highly regarded as an expert in civil and criminal “cross-over” work. He is praised as “one of the few specialist criminal practitioners in this area” (Legal 500 2015). Michael is a Deputy High Court Judge (Queen’s Bench Division) and is a joint head of Outer Temple Chambers.
Michael specialises in business crime, civil fraud, financial services and economic sanctions. He regularly advises companies and individuals on complex commercial transactions in respect of US and EU sanctions. He acts for corporate clients and senior managers in global investigations and for the SFO, FCA, CMA and Lloyd’s of London. He is instructed in several current major financial cases, both civil and criminal and in several substantial cross-border corruption investigations.
Michael acts for overseas regulators and is instructed in overseas cases as an expert in English law. He successfully prosecuted the FCA’s first insider dealing case and has prosecuted numerous insider-dealing cases subsequently. He is instructed as an expert witness in FCA procedure. He is listed as a leading silk in the fields of Financial Services, Financial Crime (Corporates) and Financial Crime (London) in Chambers & Partners and in Banking & Finance, Business and Regulatory Crime and Fraud in the Legal 500.
He is registered in the Dubai International Finance Centre (DIFC) Courts. He is a trustee of Transparency International UK and a member of the New York State Bar Association.
Jan J.H. Verloop
Trade Control Officer (retired) at Shell International
Mr.Verloop graduated in Mechanical Engineering and Business Administration, before he joined Shell in 1975.Until September 2016, he was Trade Control Officer at Shell International. In particular, he worked on the crossroads of technology, services and logistics in both Upstream, Downstream, Mining and Central Functions. This includes multi-year assignments in Oman, Surinam, Malaysia, Scotland as well as extensive travel to many other oil & gas producing countries including Iran and Syria.This has provided him a unique insight in the challenges caused by Global Set-ups interlaced by many Joint Ventures, complex and often fragmented organizations and business processes. Mr. Verloopis a Dutch national and most of his time resides in the Netherlands or the Swiss Alps.
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