Washington, D.C. partner Nate Bolin will present at the Hong Kong Summit on Economic Sanctions Compliance & Enforcement on May 28. Nate will be joined by OFAC sanctions compliance officer Carlton Morris.
The session, titled “A Deep Dive into U.S. Economic Sanctions Regulatory Regimes: Understanding the Latest Rules on Russia, Iran, North Korea, China, Cuba, and Venezuela,” will offer a comprehensive update on important new developments in sanctions administered by the U.S. Treasury’s Office of Foreign Assets Control (OFAC). Attendees will also learn about the compliance risks the economic sanctions pose for global companies.
Other topics include:
- Spotlight on screening: conflicting or complementary? What you need to know on US versus EU versus UN Sanctions
- What are the risks? How Asia transactions may turn into an economic sanctions investigation
- Potential liability for the company, its employees and executives; potential civil liability, regulatory actions and shareholder suits; reputational damage; risk of investigation
- How to minimize “facilitation” pitfalls
- What are OFAC expectations for your company’s sanctions compliance program
- How to work effectively with OFAC to expedite licensing process
- How to respond to an OFAC investigation
- Taking a risk-based approach to continuously assess your program’s effectiveness: monitoring, testing and auditing