Pre-Conference Workshop

Deep Dive on the Fundamentals of Russia Sanctions: Staying Compliant with Primary and Secondary Sanctions Restrictions

Sep 9, 2020 7:00am – 10:30am

Speakers

Nicholas Bentley
Senior Legal Counsel Trade Sanctions
Novartis (Switzerland)

Michael Casey
Partner
Kirkland & Ellis LLP (UK)

Pre-Conference Workshop

OFAC Compliance Programme Best Practices

Sep 10, 2020 7:00am – 10:30am

Speakers

Jay Bratt
Chief at Counterintelligence and Export Control Section
US Department of Justice (USA)

Laura Molinari
Former Executive Counsel – International Trade Compliance
GE (USA)

Lloyd Meadows
Senior Sanctions Advisor
Standard Chartered Bank (UK)

Michael Zolandz
Partner
Dentons (USA)

Day 1 - Monday, September 14, 2020

1:00
Co-Chair Opening Remarks
1:15
Iran: Latest Sanctions Developments, The Future of the JCPOA and the Consequences for Those Doing Business in Iran (or Not)
2:00
OFAC: A Year in Review and Global Enforcement Trends
3:00
Break
3:30
Global “Trade War” Implications: The Role of Export Controls and Sanctions
4:30
Sanctions Screening: In-Depth Review on the Future Trends of Sanctions Screening
5:15
End of Day One

Day 2 - Tuesday, September 15, 2020

1:00
Co-Chair Opening Remarks
1:10
Latest on Russia Sanctions: The Current State of US Russia Sanctions, CBW Act, EU Actions Comparable to CAATSA, and the Risk of Increased Secondary Sanctions Exposure
2:10
Post-Brexit: The UK’s New Sanctions Regime and Points of Divergence with the EU
3:10
Break
3:45
Risk Assessments: Customising a Comprehensive and Effective Sanctions Risk Profile
4:45
Regulatory: New DOJ Guidance on Voluntary Self-Disclosures and OFAC’s Framework for Compliance
5:30
Maritime and Aviation: New Guidance and Pitfalls to Watch Out For
6:15
End of Day Two

Day 3 - Wednesday, September 16, 2020

1:00
Co-Chair Opening Remarks
1:15
Emerging Trends and Developments: Assessing the Challenges of EU ‘Magnitsky’ Sanctions and More
2:00
Lessons learned: Key Takeaways and Insights on Companies Subject to Penalties
3:00
Break
3:30
Global Sanctions Risk Map: Countries to Keep on Your Radar in The Year Ahead
4:15
Sanctions Clauses: Protecting your Organisation Through Stringent Contractual Provisions
5:00
End of Day Three

Day 1 - Monday, September 14, 2020

1:00
Co-Chair Opening Remarks
1:15
Iran: Latest Sanctions Developments, The Future of the JCPOA and the Consequences for Those Doing Business in Iran (or Not)
Bernardo_Weaver

Bernardo Weaver
Senior Compliance Manager
Merz Pharma (Germany)

Lloyd Meadows
Senior Sanctions Advisor
Standard Chartered Bank (UK)

  • Assessing the extra-territorial effects of US secondary sanctions and the EU Blocking Statute post JCPOA
  • Enforcement implications for European entities and individuals
  • Mitigating risks immediately after the “wind down period” – response times and contractual obligations
  • Structuring deals whilst avoiding regulatory conflicts
  • Executing payments when financial institutions, insurance companies and their counterparties are de-risking in relation to Iran

2:00
OFAC: A Year in Review and Global Enforcement Trends
blank-headshot

Senior Representative (invited)
Office of Foreign Assets Control
US Treasury Department

Michael Casey
Partner
Kirkland & Ellis LLP (UK)

The year 2019 witnessed a substantial increase in OFAC civil-penalty enforcement actions compared to the last decade. These actions indicate that OFAC is expanding its scope beyond financial institutions and targeting a variety of different industries. This session will provide you with both trends and guidance to ensure you remain proactive in implementing a robust compliance programme and stay abreast of the continually evolving sanctions landscape.

3:00
Break
3:30
Global “Trade War” Implications: The Role of Export Controls and Sanctions

Laura Molinari
Former Executive Counsel – International Trade Compliance
GE (USA)

Steve Wilcox
Senior Director
FTI Consulting
Former Acting Assistant Director, Export Control Officer Program, Bureau of Industry and Security, U.S. Department of Commerce (USA)

  • What are the EU sanctions export control provisions vis a vis China and its relevance to US restrictions?
  • Understanding the reasons for caution in wider circumstances for sanctions compliance
  • Implications of the EU China arms embargo: what does this mean in practice
  • The impact on European businesses under US SDN and Entity List designations of Chinese persons/entities
  • Practical steps to take for European businesses by ensuring which screening tools to use; ERP systems; system recognition of US sanctions and (re)export controls; and classification of goods exported

4:30
Sanctions Screening: In-Depth Review on the Future Trends of Sanctions Screening
Andre_Hermsen

Andre Hermsen
Group Risk & Compliance Officer
GKN plc (Netherlands)*

  • Can automation, artificial intelligence and outsourcing resolve inefficiencies?
  • How to accurately pull together the necessary data to process alerts in a consistent and efficient way
  • How to effectively use technologies such as analytics and machine learning to improve sanctions screening
  • Navigating through barriers to adoption to include the need for regulatory acceptance and concerns by relying on machines for decision making
  • Overcoming the challenges of multiple systems; data; list management; and technology

5:15
End of Day One

Day 2 - Tuesday, September 15, 2020

1:00
Co-Chair Opening Remarks
1:10
Latest on Russia Sanctions: The Current State of US Russia Sanctions, CBW Act, EU Actions Comparable to CAATSA, and the Risk of Increased Secondary Sanctions Exposure
Brian_Wilson

Brian Wilson
Executive Director
Global Head of Sanctions,
UBS (Switzerland)

blank-headshot

Lourdes Catrain
Partner
Hogan Lovells International LLP (Brussels)

  • The framework for counter-sanctions legislation and imposition of EU actions comparable under secondary sanctions under CAATSA
  • The minimum requirements under the second round of CBW sanctions
  • What to watch for increasing sanctions risks: US elections 2020; cyberactivity attributed to Russian state actors; Russia supporting China in its trade war with the US

2:10
Post-Brexit: The UK’s New Sanctions Regime and Points of Divergence with the EU

Maya Lester, QC

Brick Court Chambers (UK)

Roger Matthews
Partner
Dentons (UK)

  • To which extent will the UK alter EU sanctions after the transition period in December 2020
  • How will the UK align itself or adopt its position with the US or the European Union’s policy on Iran?
  • The implications of The Sanctions and Anti-Money Laundering Act 2018 (“SAMLA”):
    • Application of sanctions to entities “owned” and “controlled” by designated persons
    • Designation by description
    • Forthcoming US-style general licenses
  • Emerging divergence in activity-based EU and UK sanctions programmes

3:10
Break
3:45
Risk Assessments: Customising a Comprehensive and Effective Sanctions Risk Profile

Shiye Luo-Forst
Associate Director, Head of Sanctions
HSBC (Germany)

Sean Seelinger
Counsel
Ropes & Gray (UK)

  • Scoping your key sanctions risk exposure: geographic; industry; government interaction; imports and exports; and products
  • Developing essential components of effective assessments based on regulators and enforcement agencies expectations
  • Difference between US and EU with regards to regulatory framework and enforcement actions
  • Facilitating identification, collection, scoring and reporting of risks through the risk assessment process; benchmarking your processes and tools
  • Probing your weak spots and uncovering new red flags for activities, transactions and schemes
  • Initiatives to improve and establish cooperation between private and public sector: sanctions authorities, regulators, financial institutions and their customers for information sharing and exchange of typologies e.g. evasions

4:45
Regulatory: New DOJ Guidance on Voluntary Self-Disclosures and OFAC’s Framework for Compliance
Jay_Bratt_Headshot

Jay Bratt
Chief at Counterintelligence and Export Control Section
US Department of Justice (USA)

Michael Zolandz
Partner
Dentons (USA)

  • Factors to consider when deciding whether to disclose and to whom
  • Key considerations under suspected breaches and multiple parties
  • Understanding the role of other parties, their regulatory requirements and risk appetite
  • Mapping out the timing of submission to fully understand the scope of the problem
  • Identifying OFAC mitigating and aggravating factors
  • Understanding the base penalty matrix under the multi-jurisdictional regulatory regimes

5:30
Maritime and Aviation: New Guidance and Pitfalls to Watch Out For

Catherine Muldoon
Regulatory Compliance
BDP International (USA)

Cortney O’Toole Morgan
Partner
Husch Blackwell LLP (USA)

  • OFAC’s expectations for screening the operations of every vessel you are doing business within the maritime supply chain: banks, energy traders, bunker service providers
  • What amounts to a risky transaction in relation to the purchase, acquisition, sale, transport or marketing of a product i.e. petroleum
  • How to effectively implement the risk mitigation measures via insurance, verifying cargo origin, reviewing documentation, KYC
  • Updating your compliance controls to account for specific types of vessel behaviours that are red flags seen through deceptive shipping tactics

6:15
End of Day Two

Day 3 - Wednesday, September 16, 2020

1:00
Co-Chair Opening Remarks
1:15
Emerging Trends and Developments: Assessing the Challenges of EU ‘Magnitsky’ Sanctions and More

Nicholas Bentley
Senior Legal Counsel Trade Sanctions
Novartis (Switzerland)

Thomas Koffer
Global Anti-Bribery & Economic Sanctions Compliance
Credit Suisse (Switzerland)

kerstin_wilhelm

Kerstin Wilhelm
Partner
Linklaters (Germany)

  • Understanding the extraterritorial regimes applicable to persons in countries not otherwise subject to sanctions
  • What is the expanded reach of foreign nationals deemed responsible for human rights violations?
  • Assessing the likelihood of business partners featuring on a global Magnitsky list
  • Outlook on geopolitical global Magnitsky provisions, including Canada, Latvia, Lithuania, Estonia, the UK, EU and Australia

2:00
Lessons learned: Key Takeaways and Insights on Companies Subject to Penalties

Neil Whiley
Director of Sanctions Policy
UK Finance (UK)

Ross_Marrazzo

Ross Marrazzo
Managing Partner
Treliant (USA)

  • What do recent US Sanctions enforcement settlements reveal about evolving priorities?
  • What are the new features in OFAC settlement agreements and what to expect going forward?
  • Highlights for compliance deficiencies or breakdowns that are commonly responsible for sanctions violations
  • Enforcement trends on use of US dollar payments; utilising
  • non-standard payment; improper due diligence; lack of sanctions compliance; screening software limitations; M&A’s; individual liability and misinterpretation of OFAC regulations.

3:00
Break
3:30
Global Sanctions Risk Map: Countries to Keep on Your Radar in The Year Ahead
Anne_Chilton

Ann Marley Chilton
Chief Compliance Officer
ERM (Environmental Resources Management Inc) (USA)

doug_davison

Doug Davison
Partner
Linklaters (USA)

  • The five countries to watch in 2020 and beyond – Iran, North Korea, Russia, Venezuela and Syria
  • Analysis covering a broader spectrum of risk ratings: applicable UN, US, EU and third-country sanctions, including Libya, Iraq, Yemen, Somalia, Zimbabwe, Cuba …
  • Triggers for increasing and decreasing sanctions risk and its implications to your business operations

4:15
Sanctions Clauses: Protecting your Organisation Through Stringent Contractual Provisions
Hera_Smith

Hera Smith
Senior Compliance Officer
Danske Bank (Denmark)

Anna Markitanova
Trade Compliance Officer
Syngenta (Spain)

  • What forms of protection should be included into contracts and transaction documents to cover current and future sanctions? Drafting and negotiating tips
  • How far can a sanctions clause protect you from having to perform your contractual obligations?
  • How a sanctions clause should be clearly worded and how to ensure a common intention is established amongst all parties to the contract

5:00
End of Day Three

Deep Dive on the Fundamentals of Russia Sanctions: Staying Compliant with Primary and Secondary Sanctions Restrictions

Sep 9, 2020 7:00am – 10:30am

Nicholas Bentley
Senior Legal Counsel Trade Sanctions
Novartis (Switzerland)

Michael Casey
Partner
Kirkland & Ellis LLP (UK)

What is it about?

Back by popular demand! This interactive workshop will provide timely guidance on the latest sanction restrictions in the EU and the impact of new Russian counter sanctions…

  • What are the regimes, what do they do and how are they applied?
  • Impact of expansive new sanctions imposed by US Congress
  • What to keep on your radar? Secondary sanctions related to the energy sector, malign behaviour, sectoral sanctions and types of restrictive measures …
  • Implications of recent case law, including the US District Court Exxon ruling in December 2019
  • EU sanctions: export restrictions on the sale, supply and transfer or export of goods
  • Rule on congress

OFAC Compliance Programme Best Practices

Sep 10, 2020 7:00am – 10:30am

Jay Bratt
Chief at Counterintelligence and Export Control Section
US Department of Justice (USA)

Laura Molinari
Former Executive Counsel – International Trade Compliance
GE (USA)

Lloyd Meadows
Senior Sanctions Advisor
Standard Chartered Bank (UK)

Michael Zolandz
Partner
Dentons (USA)

What is it about?

This new workshop has been specifically designed for in-house sanctions professionals. Senior level sanctions professionals will engage in dialogue on strengthening their companies’ sanctions compliance programmes based on OFAC’s May 2019 guideline and latest enforcement action guidance.

  • What is an effective sanctions compliance programme?
  • Updating your existing compliance programme in order to remain compliant
  • Effectively making use of key OFAC resources
  • Training right and ensuring buy-in at all levels of your organisation
  • Pressure testing your compliance programme for weaknesses and inefficiencies
  • Overcoming common pitfalls and breakdowns