The Blocking Statute: Protecting E.U. Companies From the Effects of Extra-Territorial Application of U.S. Sanctions Against Iran


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On Demand Webinar

 

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Overview:

On May 8, 2018, President Trump announced that the U.S. would be withdrawing from the Iran nuclear deal. Following this decision, E.U. leaders agreed to activate the so-called Blocking Regulation, which bans European companies, under threat of punishment, from complying with U.S. sanctions against Iran.

This discrepancy between U.S. and E.U. regimes severely complicate matters for financial institutions and companies looking to comply with sanctions against Iran. Furthermore, there is little to no guidance on this from the regulators.

In this SanctionsAlert.com webinar, our expert speakers will discuss the vital elements of the E.U. Blocking Statute as well as how to best deal with the discrepancy between E.U. and U.S. rules in order to stay compliant.

You will learn:

  • The history of the E.U.Blocking Statute;
  • What the amendment to the Annex of the Blocking Statute means in practice (de facto perspective) as opposed to what it means in law (de jure perspective);
  • The clawback provision of the Blocking Statute;
  • The catch-22 companies can find themselves in as a result of the renewed US sanctions and the Blocking Statute; and
  • The extent to which the Blocking Statute is a political statement as opposed to an effective tool which E.U. companies can rely on.

Date Aired:

November 15, 2018

Duration: 

75 minutes

Speakers

Alina Nedea
Alex Haines

Preparing for a Regulatory Examination of Your Financial Institution’s OFAC Program


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On Demand Webinar

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Overview:

This webinar will address the steps an institution can take in advance in order to prepare for a bank examination of your OFAC program. Our speaker will discuss and provide guidelines for positively and accurately representing OFAC programs to regulators in order to ensure your business achieves the best outcome.

In this SanctionsAlert.com Webinar, we will cover: what happens when the bank examiner arrives, how the examiner prepares him/herself for the examination, how to handle questions from the examiner, and how to best document the examination.

What you will learn:

  • The ins and outs of the “rule book” used by the Regulator;
  • How to prepare your team (i.e. compliance staff, business lines with sanctions responsibilities, senior executives) for the examination;
  • How to use and get the most our of communication protocols; and
  • How to organize relevant information relating to your OFAC program.
Iran

Date Aired: 

July 12, 2018

Duration: 

75 minutes

Speakers

Thomas Nollner

OFAC Enforcement Actions: Trends and Analysis


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On Demand Webinar

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Overview:

In its role as the U.S. sanctions enforcer, the Treasury’s Office of Foreign Assets Control (OFAC) has recently doled out a number of hefty fines for sanctions violations. In 2017 alone, OFAC imposed a fine of $2 million against ExxonMobil for violating Ukraine-Related Sanctions, as well as a $12 million fine against CSE Global Limited and CSE TransTel Pte Ltd, and a whopping $1.2 billion against ZTE Corporation for violation of the Iranian Transactions and Sanctions Regulations.

In this SanctionsAlert.com webinar, our expert speaker will discuss the recent trends in OFAC penalties, analyze specific cases that display these trends, and explain how your company can keep up to date with OFAC’s enforcement strategies.

You will learn:

  • Which companies have been subject to OFAC penalties for sanctions-related violations;
  • Trends in the size of penalties or settlements for sanctions-related violations;
  • Discussions of how specific cases reflect OFAC’s enforcement strategies; and
  • Insights into how OFAC’s enforcement strategies may have changed during the Trump Administration as compared to the Bush and Obama Administrations.
Iran

Date Aired: 

June 21, 2018

Duration: 

75 minutes

Speakers

Bryan Early