Understanding OFAC Issues in 2012
Overview:
Compliance with the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) regulations remains a significant challenge for most companies. With assets located all over the world, OFAC compliance can be complex, putting companies at risk for violating U.S. economic and trade sanctions programs.In this two-hour Live Webcast, the Knowledge Group will walk you through the most significant issues which may arise in the context of OFAC compliance and how to mitigate these risks to avoid sanctions violations and enforcement actions.
Agenda:
- Best practices for complying with an OFAC request for information
- Guidelines that OFAC will follow in determining an appropriate enforcement response to apparent violations of U.S. economic sanctions programs
- Proper remediation in response to an apparent sanctions violation
- Procedures and controls that can aid in responding to the implementation of a new sanctions program
- Identifying practices used to hide the involvement of sanctions targets in transactions
- Product and enterprise risk management
- Recent Enforcement Actions/Protecting Oneself from Enforcement Actions
- Understanding how facilitation and causation can result in an OFAC enforcement
- Considerations for U.S. companies when foreign affiliates do business an OFAC-sanctioned country
- Considerations for foreign companies that do business with U.S. companies or have U.S. affiliates
- What U.S. and foreign companies need to know about exports and reexports involving OFAC-sanctioned countries
- Conducting internal investigations and audits
- Submitting disclosures (voluntary and directed)
Who Should Attend:
- Board of Directors
- Senior Executives
- Internal Audit
- General Counsel
- Accountants and Auditors
- Operations and Compliance Officers
- Anti–Money Laundering Lawyers and Specialists
- Risk Management Officers
- Compliance, Legal, and Operational Professionals and Staff
Laura Yovanoff is a Sanctions Compliance Officer with the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”). …
Michael Zytnick is a Compliance Officer for the Office of Foreign Assets Control, working within the organization’s Sanctions Compliance and …
Maureen regularly advises on compliance with the USA PATRIOT Act, Bank Secrecy Act and Office of Foreign Assets Control requirements; …
Jim Slear is a partner in the International Trade practice. Jim advises domestic, foreign and multinational clients in a wide …
Meredith Rathbone is a Partner with the law firm of Steptoe & Johnson LLP in Washington, D.C., where she counsels …
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE)
Prerequisite:
NONE
Course Code:
114188
Total Credits:
2.0 CLE
Login Instructions:
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SPEAKERS' FIRMS:
About Bingham
Bingham's market-leading practices are focused on global financial services firms and Fortune 100 companies. The firm has 1,100 lawyers in 13 offices in the U.S., Europe and Asia, including New York, London, Frankfurt, Tokyo and Hong Kong. It also has a significant East Coast/West Coast presence in the United States.
Bingham invested extensively in talent; expanded selectively in global financial centers; earned a reputation as a go-to firm in key disciplines; and developed a workplace that has been widely and repeatedly recognized as one of the best - since 2005, the firm has been one of the FORTUNE 100 Best Companies to Work For.
About Thompson Coburn LLP
With 350 lawyers and more than 50 practice areas, Thompson Coburn LLP serves clients throughout the United States and beyond. Whether helping a client with an international trade compliance issue, addressing an employment matter, navigating a complex acquisition, or defending a product or service in litigation, the firm has the knowledge and resources to meet any legal requirement.
About Steptoe & Johnson LLP
With more than 500 attorneys, Steptoe & Johnson LLP provides counsel and representation in a wide range of legal fields. Steptoe attorneys are known for having the breadth of experience and insight needed to handle complex disputes and resolve difficult regulatory and business problems. Attorneys in practices ranging from tax, energy, and intellectual property, to antitrust, international trade, and insurance/reinsurance, know the business and regulatory landscapes exceedingly well and benefit from deep benches of practice-specific trial lawyers. The firm believes such in-depth understanding is an essential factor in developing the creative strategies and solutions that clients require.
About United States Department of the Treasury Office of Foreign Assets Control (OFAC)
Website: https://www.knowledgecongress.org/speakers_2011_OFAC_Issues.html
About Bingham McCutchen LLP
Website: https://www.bingham.com/
About Thompson Coburn LLP
Website: https://www.thompsoncoburn.com/
About Steptoe & Johnson LLP
Website: https://www.steptoe.com/