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

Upcoming Webinar

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;

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OFAC

Duration: 

75 minutes

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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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.

Nadiya Nychay
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.

Moderator:

Anna Sayre, Legal Content Writer, SanctionsAlert.com

This Live Webinar is Included in the SanctionsAlert.com Membership. SanctionsAlert.com Members will receive an email with log in details one day before the Webinar. These are also posted on the SanctionsAlert.com Platform. After the Live Webinar, SanctionsAlert.com Members can also view this webinar on-demand on our Platform.

Michael Bowes
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.

Attendee Testimonials

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Bank of America

“Great knowledge from the presenters and the content was relevant”
— José R. Fernandez, Bank of America – Charlotte, NC, USA

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Wells Fargo

“Great coverage of information”
— Cathy Swindell-Smith, Wells Fargo – Charlotte, NC, USA

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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

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RBC

“The content was excellent and easy to understand. The presenters did a great job!”
— Susan Wilson, RBC – Toronto, Canada

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Comerico Bank

“Both speakers were exceptionally knowledgeable and provided practical information regarding the sanctions changes”
— Adam Hermes, Comerico Bank – Livonia, USA

Sanctions Essentials: Connecting the Dots Between Sanctions and AML

Upcoming Webinar

Date:  Thursday, February 22, 2018

Time:  12:00 PM – 01:15 PM EST

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

Add to Calendar

OFAC

Duration: 

75 minutes

Sign up today!

 Great knowledge, great instructors, great value

Tell your friends, clients, customers and colleagues to sign up.

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.

Tyler Hand
Global Head of Sanctions, Interdiction & Anti-Corruption
Western Union

Tyler’s responsibilities with Western Union include overseeing the company’s Office of Foreign Assets Control and other government sanctions compliance programs, as well as the company’s proprietary list-screening operations. Tyler joined Western Union in June 2014 after working for seven years at the United States Department of the Treasury in Washington, DC. During his time with the Treasury Department, Tyler served as OFAC’s Assistant Chief Counsel for Designations and Enforcement and as Acting Director for Enforcement. While at the Treasury Department, Tyler’s responsibilities included developing and implementing policies related to OFAC enforcement and designation matters, drafting sanctions Executive Orders and regulations, and advising on large interagency enforcement investigations involving major financial institutions. Tyler also served as the primary point of contact for counterparts at the Department of Justice, the Department of State and the White House National Security Staff. Prior to joining OFAC, Tyler practiced law at Holland & Hart in Denver, CO in its Export Controls and Trade Sanctions practice group. Tyler received his JD in 2000 from the University of Colorado School of Law, Boulder, and his Bachelor of Arts in 1995 from the University of Vermont, Burlington.

This Live Webinar is Included in the SanctionsAlert.com Membership. SanctionsAlert.com Members will receive an email with log in details one day before the Webinar. These are also posted on the SanctionsAlert.com Platform. After the Live Webinar, SanctionsAlert.com Members can also view this webinar on-demand on our Platform.

Carlton Greene
Partner
Crowell & Moring LLP

Carlton is a partner in Crowell & Moring’s Washington, D.C. office and a member of the firm’s International Trade and White Collar & Regulatory Enforcement groups. He provides strategic advice to clients on U.S. economic sanctions, Bank Secrecy Act and anti-money laundering (AML) laws and regulations, export controls, and anti-corruption/anti-bribery laws and regulations. Carlton is the former chief counsel at FinCEN (the Financial Crimes Enforcement Network), the U.S. AML regulator responsible for administering the Bank Secrecy Act.

Before joining FinCEN, Carlton previously served as the assistant director for transnational threats with the U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC), where he directed targeting and investigations for more than 15 U.S. economic sanction programs, including those related to Iran and North Korea. Carlton also served as legal counsel to OFAC on counter terrorism sanctions. Previously, he was appointed by the United Nations Secretary-General to advise the UN Security Council on international sanctions against Al-Qaida and the Taliban and to lead member state visits to assess compliance. Carlton also previously served as a trial attorney at the U.S. Department of Justice, where his practice included representing OFAC on sanctions issues.

Based on his years of experience with OFAC and FinCEN, Carlton offers valuable insights on the approaches of these agencies that will assist corporate clients to more effectively respond to government investigations, as well as update their corporate compliance programs in general.

 

Attendee Testimonials

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Bank of America

“Great knowledge from the presenters and the content was relevant”
— José R. Fernandez, Bank of America – Charlotte, NC, USA

Logo

Wells Fargo

“Great coverage of information”
— Cathy Swindell-Smith, Wells Fargo – Charlotte, NC, USA

Logo

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

Logo

RBC

“The content was excellent and easy to understand. The presenters did a great job!”
— Susan Wilson, RBC – Toronto, Canada

Logo

Comerico Bank

“Both speakers were exceptionally knowledgeable and provided practical information regarding the sanctions changes”
— Adam Hermes, Comerico Bank – Livonia, USA