OFAC Compliance: Meeting Evolving U.S. Sanctions Requirements, Minimizing Risk of Sanctions

A live 90-minute CLE webinar with interactive Q&A


Wednesday, October 30, 2019

1:00pm-2:30pm EDT, 10:00am-11:30am PDT

Early Registration Discount Deadline, Friday, October 4, 2019

or call 1-800-926-7926

This CLE webinar will guide counsel on Office of Foreign Assets Control (OFAC) compliance. The panel will discuss the new OFAC framework and OFAC priorities. The panel will also discuss screening, monitoring, and receiving payments, as well as offer best practices for ensuring effective sanctions compliance.

Description

U.S. sanctions restrictions are rapidly evolving. Companies are facing a complex enforcement landscape, and they must stay current on developments related to U.S. sanctions from Venezuela-related designations. Counsel must also be aware of the imposition of sanctions concerning the iron, steel, aluminum and copper sectors of Iran.

When the OFAC issued its new framework for compliance in May 2019, it provided a roadmap for compliance. Sanctions compliance programs should include the following crucial components: management commitment and support; risk assessment; internal controls; testing and auditing; and training. Companies should use the framework to evaluate their compliance programs to determine if they meet the OFAC priorities and include the essential components.

As sanctions evolve, companies and counsel must respond immediately and adjust compliance programs to ensure sanctions requirements are met. U.S. entities must assess screening and monitoring to ensure compliance.

Listen as our authoritative panel guides counsel on OFAC compliance. The panel will discuss the new OFAC framework and OFAC sanctions compliance priorities. The panel will also discuss the lessons from enforcement actions and provide best practices for ensuring an effective sanctions compliance program.

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Outline

  1. U.S. sanctions
  2. New OFAC framework
  3. Screening processes
  4. Receiving payments
  5. Blocking accounts
  6. Export and re-export requirements
  7. Steps to take if violations are suspected or discovered

Benefits

The panel will review these and other key issues:

  • How does the new OFAC framework change the compliance landscape?
  • What constitutes prohibited "facilitation" of a sanctions transaction?
  • What steps should companies take to ensure sanctions compliance? What steps should be taken to minimize potential exposure if violations occur?

Faculty

Fleming, Brian
Brian J. Fleming

Member
Miller & Chevalier

Mr. Fleming's practice focuses on investigations and compliance counseling in matters at the intersection of...  |  Read More

O'Toole, Timothy
Timothy P. O'Toole

Member
Miller & Chevalier

Mr. O'Toole focuses on economic sanctions and export controls. He represents companies and individuals at all...  |  Read More

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Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video

48 hours after event

$247

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DVD

10 business days after event

$247 + $19.45 S&H