OFAC Compliance, Sanctions and Corporate Risks: How Prepared Are You?
Recently, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced settlements with HyperBranch Medical Technology, Inc. and other three separate Alcon companies to resolve apparent violations of the Iranian Transactions and Sanctions Regulations (ITSR). These enforcement actions simply demonstrate OFAC's heightened scrutiny of companies with laxity in sanctions compliance programs. Thus, it is imperative for companies to secure a robust compliance program that is in accordance with OFAC's standards in order to reduce multiple violations and avoid hefty civil penalties.
In this two-hour LIVE Webcast, a panel of distinguished professionals and thought leaders assembled by The Knowledge Group will help the audience understand the important aspects of this significant topic. They will provide an in-depth discussion of recent enforcement actions, latest trends and critical compliance issues and risks. Speakers will also offer best practices in establishing and strengthening comprehensive compliance program.
Some of the major topics that will be covered in this course are:
- OFAC Compliance Program - An Overview
- Recent Enforcement Actions
- Violations, Sanctions and Civil Penalties
- Implications on International Markets
- Key Compliance Issues and Corporate Risks
- Risk Assessment and Compliance Procedures
- Latest Trends and Developments
- Best Practices in Establishing a Comprehensive Compliance Program
David C. Butman, Partner
Hinkhouse Williams Walsh LLP
- Enforcement Capabilities and Assessing Potential Exposure
- Developing and Implementing an Effective Compliance Program
- Opportunities and Pitfalls As Sanctions and US Foreign Policy Develop
Eliot St. John, Sanctions Compliance & Evaluation , Office of Foreign Assets Control
U.S. Department of the Treasury
Jamie B. Rose, Member, Office of Foreign Assets Control
U.S. Department of the Treasury
- Culture of Compliance—Managing an effective OFAC Compliance Program
- Recent Updates—Changes to the Iran and Cuba Sanctions, as well as Burma and North Korea
- Enforcement—Lessons Learned from Recent Cases
Who Should Attend:
- OFAC Specialists
- Risk and Compliance Professionals
- Investment Advisers
- Bank Regulation Lawyers and Executives
- Attorneys (Foreign Investment; National Security, International Trade Practice)
- International Contract Managers
- Trade Association Representatives
- Trade Compliance Administrators and Managers
- International Trade Counsel and Specialist
- Corporate Senior Management
- Executive Directors and Officers
- Corporate Counsel
- Business Lawyers
- Business Managers
- Private Companies
David C. Butman is a partner with Hinkhouse Williams Walsh LLP in Chicago, Illinois. Mr. Butman is regularly called upon to advise insurers, reinsurers and brokers on U.S. economic and trade sanctions regulations administered and enforced by the U.S. Treasury Department's Office of Foreign Assets Control (OFAC). He has conducted and concluded numerous internal investigations, made voluntary disclosures on behalf of his clients, and obtained licenses under various sanctions programs. Mr. Butman has also counseled multinational companies in navigating and complying with conflicting obligations posed by foreign laws, and he has assisted clients with developing and implementing effective sanctions compliance programs. He is frequently invited to speak at seminars and conferences.
David C. Butman is a partner with Hinkhouse Williams Walsh LLP in Chicago, Illinois. Mr. Butman is regularly called upon …
Eliot St. John joined the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) in 2015, where he works with a dynamic team responsible for implementing and enforcing U.S. economic sanctions. He provides practical advice on a daily basis to financial institutions and exporters from around the world on OFAC compliance issues, and he routinely interacts with his regulatory and private industry peers through outreach events across the country. He also works on many of the agency’s enforcement matters involving the regulated financial community. Prior to joining OFAC, Eliot worked as an economist for HDR, Inc., focusing on modeling and data analysis.
Eliot St. John joined the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) in 2015, where he …
Jamie Rose has been member a member of the Sanctions Compliance and Evaluation team at the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) since 2013. In her capacity as Deputy Chief of Regulated Industries Oversight and Evaluation, she serves as one of OFAC’s principal case officers for financial sector enforcement matters and is responsible for leading some of OFAC’s most complex investigations. Jamie is also OFAC’s primary liaison to U.S. federal and state financial regulators and the Federal Financial Institution Examination Council, and has developed OFAC training sessions specifically catered to financial examiners. Jamie routinely provides guidance to small, medium, and large financial institutions and international companies regarding in-process transactions, OFAC sanctions programs, and compliance programs, and has spoken at dozens of conferences and seminars regarding OFAC compliance. Prior to joining OFAC, Jamie clerked in the U.S. Senate for the Permanent Subcommittee on Investigations, focusing on the committee’s examination of a role that a large, global financial institution can play in creating money laundering and terrorist financing vulnerabilities. Jamie is a proud graduate of Wellesley College and the Catholic University of America’s Columbus School of Law.
Jamie Rose has been member a member of the Sanctions Compliance and Evaluation team at the U.S. Department of the …
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Method of Presentation:
NASBA Field of Study:
Business Law - Technical
NY Category of CLE Credit:
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About Hinkhouse Williams Walsh LLP
Hinkhouse Williams Walsh LLP is a specialty law firm of trial lawyers experienced in handling diverse and complex litigation matters on behalf of domestic and international insurers and reinsurers. HWW’s trial practice focuses on insurance coverage, insurance bad faith and punitive damages actions, advertising injury and intellectual property cases, reinsurance disputes, and product liability matters. In addition to litigation services, HWW also counsels clients regarding economic and trade sanctions administered and enforced by the U.S. Office of Foreign Assets Control.