Foreign Asset Control Compliance in Domestic and International Transactions
Avoiding Penalties in the New Enforcement Environment
Recording of a 90-minute CLE webinar with Q&A
This seminar will offer guidance to legal advisers in understanding the government's requirements for foreign asset control compliance, in navigating the current enforcement environment, and in developing best practices for ensuring compliance with OFAC regulations.
Outline
- Landscape/overview
- Covered countries
- Covered entities and individuals
- Laws covering economic sanctions
- Scope of sanctions
- Recent changes to U.S. sanctions
- Enforcement environment
- OFAC’s interim rule on economic sanctions enforcement
- Audits and investigations
- Voluntary disclosures
- Penalties
- What can be learned from recent enforcement actions?
- Compliance programs
- Core elements
- Mergers and acquisitions
Benefits
The panel will review these and other key questions:
- What is the scope of the OFAC sanctions and what conduct is prohibited?
- How have the enforcement guidelines changed the enforcement environment? What can be learned from recent enforcement actions?
- What are the best practices for businesses to ensure compliance with foreign asset control requirements?
- What are the key elements for an effective compliance program?
Faculty
Erin L. Crockett
Director, Corporate Global Trade Compliance
Dresser
She is responsible for the Dresser, Inc.’s, recently purchased by GE Energy, a division of GE, Global Trade... | Read More
She is responsible for the Dresser, Inc.’s, recently purchased by GE Energy, a division of GE, Global Trade Compliance Program, which includes four major segments with 30 manufacturing and services sites worldwide and sales in more than 100 countries. Her responsibilities include implementing and overseeing policies and procedures improvement; risk assessment and management; and educating groups that affect the daily Global Trade Compliance Program.
CloseJudith A. Lee
Partner
Gibson Dunn & Crutcher
Ms. Lee's practice focuses on international trade regulation, including USA Patriot Act compliance, Foreign... | Read More
Ms. Lee's practice focuses on international trade regulation, including USA Patriot Act compliance, Foreign Corrupt Practices Act, economic sanctions and embargoes, export controls, and customs. She also handles international privacy issues, international intellectual property issues and international labor issues.
CloseEdward L. Rubinoff
Partner
Akin Gump Strauss Hauer & Feld
He focuses on international trade policy and regulation and is a recognized authority on U.S. export controls, trade... | Read More
He focuses on international trade policy and regulation and is a recognized authority on U.S. export controls, trade embargoes, economic sanctions, antiboycott regulations and foreign corrupt practices. He is a member of the President's Export Council Subcommittee on Export Administration, which advises on the development and implementation of U.S. export controls and security-related trade.
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