PLAY RECORDING

Overview:

In response to violations committed by U.S. persons as well as foreign organizations, the enforcement efforts of the Department of Treasury’s Office of Foreign Assets Control (OFAC) have become more extensive. Some of the most significant OFAC enforcement actions this year include Eagle Shipping and Société Internationale de Télécommunications Aéronautiques (SITA) that were both assessed over $1 million civil penalties for their violations.

 

As the pace of OFAC’s enforcement actions continues to increase, stiffer probes and compliance requirements are expected to bring a complex and challenging landscape. Therefore, companies and their counsel must have comprehensive and up-to-date sanctions compliance programs to ensure maximum regulatory compliance and risk management.

 

In this LIVE Webcast, international trade compliance experts Samantha Sewall (Gibson, Dunn & Crutcher LLP) and Glen Lindsay (Saavedra Goodwin) will provide an in-depth discussion of recent OFAC enforcement trends. Speakers will also provide the best compliance practices and effective strategies in addressing sanctions risks.

 

Some of the major topics that will be covered in this course are:

 

  • OFAC’s Recent Enforcement Actions – Key Takeaways
  • Regulatory Trends and Developments
  • Common Risks and Pitfalls
  • Compliance Practices and Strategies
  • Outlook

Credit:

Course Level:

Intermediate

 

Advance Preparation:

Print and review course materials

 

Method of Presentation:

On-demand Webcast (CLE)

 

Prerequisite:

General knowledge of international trade laws

 

Course Code:

148340

 

NY Category of CLE Credit:

Areas of Professional Practice

 

Total Credit:

1.0 CLE


How to Claim CLE Credits Per State:

https://knowledgewebcasts.com/how-to-claim-cle-credits-per-state/


CLE State Requirements:

https://knowledgewebcasts.com/cle-state-requirements/

Speaker Panel:

Samantha Sewall, Associate Attorney
Gibson, Dunn & Crutcher LLP

Samantha Sewall is an associate in the Washington, D.C. office of Gibson, Dunn & Crutcher and a member of the firm’s International Trade Practice Group.

 

Ms. Sewall advises clients on an array of trade compliance matters, including U.S. economic sanctions, export controls, anti-boycott, and national security reviews (CFIUS). Ms. Sewall has experience advising clients in aerospace, banking, defense, medical devices, pharmaceuticals, shipping and logistics, and travel.

 

Prior to joining Gibson Dunn, Ms. Sewall served as a Political-Economic Program Assistant supporting the U.S. Embassy in Côte d’Ivoire.

Glen Lindsay, Esq., Senior Litigation Counsel
Saavedra Goodwin

Glen Lindsay serves as Senior Litigation Counsel for Saavedra | Goodwin. Glen’s practice concentrates primarily on business, regulatory and real estate litigation with an emphasis on matters involving fraud and/or deceptive business practices as well as matters at the intersection of commercial litigation and government regulatory compliance. Glen has been, and continues to be, on the front lines of litigation matters involving OFAC and its relationship with other state and federal statutes and areas of law, including admiralty and maritime issues as well as the recent amendments to the Anti-Terrorism Act.

Agenda:

Samantha SewallAssociate Attorney

Gibson, Dunn & Crutcher LLP

 

AND

 

Glen Lindsay, Esq.Senior Litigation Counsel

Saavedra Goodwin

  1.  Brief Introduction to the Office of Foreign Assets Control
    • What is OFAC?
    • History & Policy of Economic Sanctions
    • OFAC Jurisdiction
    • OFAC’s Response to COVID-19
  2. OFAC and the SDN designation
    1. Definition of SDN
    2. Types of SDNs
    3. Process of Designation
    4. Navigating/searching the OFAC database
  3. Impact of OFAC designation
    1. Blocking of assets
    2. Licensure and the license application process for dealing with blocked assets
    3. Impact of blocking (preclusion of dealing with blocked assets and criminal penalties associated with violations)
  4. Supremacy of OFAC blocking statute(s)
    1. Commercial litigation (liens, foreclosures, etc.)
    2. Admiralty (maritime liens – Versilia litigation)
    3. Civil asset forfeiture
    4. Exception to OFAC supremacy: Anti-Terrorism Act/Terrorism Risk Insurance Act
  5. OFAC Compliance
    • OFAC’s Compliance Framework released May 2019
    • Top Priorities for A Successful Compliance Program
    • Common Pitfalls
  6. Voluntary Self-Disclosure
    • What Is It and Why Do It?
    • New Department of Justice Policy on VSDs released December 2019
  7. Enforcement Trends
    • Industry Trends
    • 2020 Enforcement Cases Review

Date & Time:

Tuesday, June 30, 2020

12:00 pm to 1:00 pm (ET)

Materials:

Download Course Materials

Who Should Attend:

  • Financial Managing Officers
  • Chief Financial Officers
  • Compliance and Risk Officers
  • Investment Advisers
  • International Trade Lawyers
  • Top Level Management
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SPEAKERS

Samantha SewallAssociate Attorney
Gibson, Dunn & Crutcher LLP
Glen Lindsay, Esq.Senior Litigation Counsel
Saavedra Goodwin

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