HomeWebcastOFAC Sanctions and Corporate Compliance: Mitigating Risks, Optimizing Opportunities
Online CLE OFAC Sanctions CLE

OFAC Sanctions and Corporate Compliance: Mitigating Risks, Optimizing Opportunities

Live Webcast Date: Thursday, November 14, 2019 from 12:00 pm to 1:30 pm (ET)
International Trade Law (CLE)Recording

Online CLE OFAC Sanctions

Join us for this Knowledge Group Online CLE OFAC Sanctions Webinar. In an effort to fortify sanctions compliance practices across the board, the US Department of Treasury’s Office of Foreign Assets Control (OFAC) released a guidance for effective sanctions compliance programs last May 2019. In June 2019, the Office issued an interim final rule which dramatically revises and expands the regulations for rejected transaction reporting. Businesses of all sizes or types must be aware of these emerging changes to ensure compliance.

Noncompliance to these rules and regulations may bring forth unnecessary challenges and hefty penalties that could potentially damage a company’s bottom line.

Listen as a panel of key thought leaders and practitioners assembled by The Knowledge Group present the audience with the latest and emerging issues surrounding OFAC Sanctions and their implications on corporate compliance. Speakers will dig deeper as they analyze how companies can optimize opportunities while mitigating possible risks.

Some of the major topics that will be covered in this course are:

  • OFAC Sanctions: Recent Regulatory Trends and Developments
  • Potential Opportunities
  • Mitigating Risks
  • Best Compliance Practices
  • What Lies Ahead

Agenda

Glen M. Lindsay, Litigation Counsel
Saavedra Goodwin
  • OFAC and the SDN designation
    • Definition of SDN
    • Types of SDNs
    • Process of Designation
    • Navigating/searching the OFAC database
  • Impact of OFAC designation
    • Blocking of assets
    • Licensure and the license application process for dealing with blocked assets
    • Impact of blocking (preclusion of dealing with blocked assets and criminal penalties associated with violations)
  • Supremacy of OFAC blocking statute(s)
    • Commercial litigation (liens, foreclosures, etc.)
    • Admiralty (maritime liens – Versilia litigation)
    • Civil asset forfeiture
    • Exception to OFAC supremacy: Anti-Terrorism Act/Terrorism Risk Insurance Act

Tyler Grove, Associate
Hughes Hubbard & Reed LLP
  • Improving the effectiveness of compliance programs
    • OFAC Framework
    • New reporting requirements
    • Best practices
    • Understanding the relationship of sanctions compliance with other areas of compliance
    • Establishing a culture of compliance
  • Understanding secondary sanctions risks
    • Types of secondary sanctions
    • Extraterritorial jurisdiction
    • Materiality threshold
    • Effect of foreign blocking statutes/SPVs
    • Mitigating risks
  • M&A risks
    • Successor liability and importance of due diligence
    • For foreign acquisitions, CFIUS focus on compliance
    • For U.S. acquisitions, effect of U.S. jurisdiction on acquired firms
    • Recent enforcement actions
  • Responding to violations
    • Investigation and disclosure best practices
    • Responding to a designation
    • Third-party risks
    • When to call on outside counsel

Who Should Attend

  • BSA/OFAC Compliance Managers and Officers
  • Risk Management Officers
  • Investment Advisers
  • International Trade Lawyers

Online CLE OFAC Sanctions

Glen M. Lindsay, Litigation Counsel
Saavedra Goodwin
  • OFAC and the SDN designation
    • Definition of SDN
    • Types of SDNs
    • Process of Designation
    • Navigating/searching the OFAC database
  • Impact of OFAC designation
    • Blocking of assets
    • Licensure and the license application process for dealing with blocked assets
    • Impact of blocking (preclusion of dealing with blocked assets and criminal penalties associated with violations)
  • Supremacy of OFAC blocking statute(s)
    • Commercial litigation (liens, foreclosures, etc.)
    • Admiralty (maritime liens – Versilia litigation)
    • Civil asset forfeiture
    • Exception to OFAC supremacy: Anti-Terrorism Act/Terrorism Risk Insurance Act

Tyler Grove, Associate
Hughes Hubbard & Reed LLP
  • Improving the effectiveness of compliance programs
    • OFAC Framework
    • New reporting requirements
    • Best practices
    • Understanding the relationship of sanctions compliance with other areas of compliance
    • Establishing a culture of compliance
  • Understanding secondary sanctions risks
    • Types of secondary sanctions
    • Extraterritorial jurisdiction
    • Materiality threshold
    • Effect of foreign blocking statutes/SPVs
    • Mitigating risks
  • M&A risks
    • Successor liability and importance of due diligence
    • For foreign acquisitions, CFIUS focus on compliance
    • For U.S. acquisitions, effect of U.S. jurisdiction on acquired firms
    • Recent enforcement actions
  • Responding to violations
    • Investigation and disclosure best practices
    • Responding to a designation
    • Third-party risks
    • When to call on outside counsel

Online CLE OFAC Sanctions

Online CLE OFAC Sanctions

Glen M. LindsayLitigation CounselSaavedra Goodwin

Glen Lindsay serves as Litigation Counsel for Saavedra | Goodwin. Glen’s practice concentrates primarily on business, regulatory and real estate litigation with an emphasis on matters involving fraud and/or deceptive business practices as well as matters at the intersection of commercial litigation and government regulatory compliance. Glen has been, and continues to be, on the front lines of litigation matters involving OFAC and its relationship with other state and federal statutes and areas of law, including admiralty and maritime issues as well as the recent amendments to the Anti-Terrorism Act.

Online CLE OFAC Sanctions

Tyler GroveAssociateHughes Hubbard & Reed LLP

Tyler Grove is an associate in the Washington, D.C. office of Hughes Hubbard & Reed. As part of the International Trade group, Tyler has experience in investigating and drafting complex voluntary disclosures submitted to the Commerce, State, and Treasury Departments; Commodity Jurisdiction and Commodity Classification Automated Tracking System (CCATS) requests; U.S. Customs and Border Protection classification requests and duty protests; trade sanctions; and trade remedies and antidumping duty proceedings.


Click Here to Read Additional Material

Online CLE OFAC Sanctions

Course Level:
   Intermediate

Advance Preparation:
   Print and review course materials

Method Of Presentation:
   On-demand Webcast

Prerequisite:
   General knowledge of international trade laws

Course Code:
   148322

NY Category of CLE Credit:
   Areas of Professional

Total Credits:
    1.5 CLE

No Access

You are not logged in. Please or register to the event to gain access to the materials and login instructions.

About the Knowledge Group

The Knowledge Group

The Knowledge Group has been a leading global provider of Continuing Education (CLE, CPE) for over 13 Years. We produce over 450 LIVE webcasts annually and have a catalog of over 4,000 on-demand courses.

About the Knowledge Group

The Knowledge Group

The Knowledge Group has been a leading global provider of Continuing Education (CLE, CPE) for over 13 Years. We produce over 450 LIVE webcasts annually and have a catalog of over 4,000 on-demand courses.

Established in 1988, Saavedra | Goodwin is committed to providing large firm quality representation in a small firm atmosphere, offering individualized advice, counsel, and experienced legal representation to clients in a smaller community law firm setting that is tailored to each client’s unique situation. For more than two decades, their AV rated South Florida business, litigation, real estate and aviation attorneys have provided clients around the globe with personalized, efficient service designed to achieve each client's goals.

Website: https://www.saavlaw.com/

Hughes Hubbard & Reed LLP is an international law firm ranked for 12 years, including five years in a row as the top-ranked New York-based firm, on The American Lawyer’s A-List of what the magazine calls “the top firms among the nation’s legal elite.” We advise and represent clients in over 30 specialized practices.  Our firm strikes the balance between scale and agility, handling large and complex matters, while remaining flexible to adapt to clients’ needs and market developments. For more information, please visit www.hugheshubbard.com.

Website: https://www.hugheshubbard.com/

Glen Lindsay serves as Litigation Counsel for Saavedra | Goodwin. Glen’s practice concentrates primarily on business, regulatory and real estate litigation with an emphasis on matters involving fraud and/or deceptive business practices as well as matters at the intersection of commercial litigation and government regulatory compliance. Glen has been, and continues to be, on the front lines of litigation matters involving OFAC and its relationship with other state and federal statutes and areas of law, including admiralty and maritime issues as well as the recent amendments to the Anti-Terrorism Act.

Tyler Grove is an associate in the Washington, D.C. office of Hughes Hubbard & Reed. As part of the International Trade group, Tyler has experience in investigating and drafting complex voluntary disclosures submitted to the Commerce, State, and Treasury Departments; Commodity Jurisdiction and Commodity Classification Automated Tracking System (CCATS) requests; U.S. Customs and Border Protection classification requests and duty protests; trade sanctions; and trade remedies and antidumping duty proceedings.

Ultimate Value Annual Program

Bring a colleague for only $149, a savings of $50 per additional attendee.

  • Unlimited Access to Live & Recorded Webcasts
  • Instant Access to Course Materials
  • And More!

$199