Latest OFAC Sanctions on Syria, Iran and Burma

Meeting Strict and Rapidly Changing U.S. Sanctions Requirements

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

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Conducted on Wednesday, November 6, 2013

Recorded event now available

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Course Materials

This CLE course will provide guidance for counsel to U.S. companies doing business in or with companies in Syria, Iran and Burma. The panel will discuss how to meet the ever-evolving sanctions requirements and ensure effective compliance with the Office of Foreign Assets Control restrictions.

Description

The Treasury Department’s Office of Foreign Assets Control (OFAC) is monitoring and taking action to ensure enforcement of sanctions against Iran, Burma and Syria. Consequently, counsel to U.S. entities doing business in or with those countries must reassess screening and monitoring to ensure compliance.

OFAC keeps a close watch on U.S. companies and has ramped up its enforcement efforts. There are numerous ways in which such companies can run afoul of U.S. laws, and subsequently face steep penalities for noncompliance.

Failure to comply with OFAC regulations is costly, so counsel must stay abreast of the evolving sanctions and adjust compliance programs to ensure OFAC sanctions requirements are met.

Listen as our authoritative panel examines new and current sanctions against doing business in and with companies in Iran, Burma and Syria, how the sanctions programs are evolving, and the impact of recent changes. The panel will offer strategies for OFAC compliance.

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Outline

  1. U.S. sanctions on Iran
    1. New sanctions
    2. Sanctions in place
    3. How sanctions are evolving
    4. Impact of recent executive orders/licenses
  2. U.S. sanctions on Syria and Burma
    1. New sanctions
    2. Sanctions in place
    3. How sanctions are evolving
    4. Impact of recent executive orders/licenses
  3. Best practices and strategies for compliance

Benefits

The panel will review these and other key questions:

  • What new sanctions have been introduced or modified with respect to Syria, Iran and Burma?
  • What U.S. business activities, if any, are permissible in Iran, Burma and Syria?
  • What constitutes prohibited "facilitation" of a sanctions transaction?
  • What steps can companies take to promote OFAC compliance as sanctions on Burma, Iran and Syria evolve?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Thaddeus R. McBride
Thaddeus R. McBride
Partner
Sheppard Mullin Richter & Hampton

Mr. McBride represents companies and individuals in international trade regulatory, compliance, investigative, and...  |  Read More

John J. Sullivan
John J. Sullivan
Partner
Mayer Brown

Mr. Sullivan’s practice covers all aspects of global commerce, including litigation and arbitration, export and...  |  Read More

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