EPA Financial Assurance Compliance

Legal Strategies to Anticipate and Meet Financial Requirements for Environmental Obligations

EPA pursues financial assurance compliance as a national priority

Recording of a 90-minute CLE webinar with Q&A

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Conducted on Tuesday, May 19, 2009

Course Materials

This seminar will examine the key statutes on financial assurance with regard to environmental obligations, recent enforcement activity by the EPA and other agencies, and court rulings. The panel will outline strategies for businesses required to comply with financial assurance requirements.


The U.S. Environmental Protection Agency (EPA) has identified enforcement of financial assurance compliance as a national priority. Due to the economic downturn, the EPA is increasing its focus on verifying the ability of companies to meet their future environmental obligations.

The requirements, such as setting up environmental trust funds and obtaining letters of credit or insurance coverage, ensure that adequate funds will be available to undertake cleanup of contaminated sites when needed.

While complying with these requirements is costly, failing to comply can result in significant penalties. Companies and their counsel must fully understand the requirements to implement the necessary policies and procedures for financial assurance.

Listen as our authoritative panel of environmental attorneys reviews the legal framework for the financial assurance requirements. The panel will discuss compliance concerns, review recent developments in enforcement activity and court rulings, and offer best practices for complying with the requirements.



  1. Legal framework
    1. Significant statutes
    2. Financial assurance mechanisms/instruments
    3. Liability requirements
  2. Common compliance concerns
    1. Inability to obtain assurance
    2. Reliability of cost estimates
  3. Recent developments
    1. Impact of economic crisis
    2. Increased enforcement activity
    3. Court treatment
  4. Best practices for meeting environmental obligations (or complying with the requirements)


The panel will review these and other key questions:

  • How do the significant statutes differ in what they require for companies to meet their environmental financial obligations?
  • What mechanisms have been effective in meeting the financial assurance requirements?
  • What are the common problems that arise with companies seeking to comply with financial assurance — and what are the best practices for dealing with these issues?
  • What are the key policies and procedures that companies and counsel can implement to ensure compliance with the financial assurance requirements?


Granta Y. Nakayama
Granta Y. Nakayama

Kirkland & Ellis

He served at the U.S. Environmental Protection Agency as the Assistant Administrator for the Office of Enforcement and...  |  Read More

Christopher M. Roe
Christopher M. Roe

Fox Rothschild

He advises clients in the acquisition and disposition of businesses and assets and the redevelopment of brownfield...  |  Read More

Christian C. Semonsen
Christian C. Semonsen

Kirkland & Ellis

He practices in the area of environmental law, primarily in the context of corporate mergers, acquisitions, and...  |  Read More

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