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Navigating the Competing Sanctions Regimes

With BREXIT, the world now has at least three major authorities issuing sanctions and restrictive measures across the global financial system. In addition to OFAC sanctions issued by the US, and restrictive measures of the EU, the UK has its own regime that can impact international trade and financial flows. These are in addition to any sanctions that may be imposed by the United Nations and other national bodies. As the proliferation of these sanctions regimes continue, risks arise that entities conducting international transactions may run afoul of some of the restrictions, due to conflicting and sometimes opposing restrictions.

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Why Should You Attend:

This webinar will look at some of the more common areas where there may be inconsistencies in regulations and offer some suggestions on how to prepare your firm to deal with and comply with these regimes in order to minimize potential violations.

You will receive useful background information on some of the major differences between the three sanctions regimes of the US (OFAC), the EU and the UK. In recent years due to policy differences among the EU, US, and the UK, approaches to sanctions against countries deemed to be contrary to those policies have arisen. Many of these differences can pose problems, particularly to businesses doing business in more than on of these jurisdictions. The webinar will explore how companies can fall into a trap of compliance wherein full compliance with one regime may cause problems in complying with a second regime.

Areas Covered in the Webinar:
  • The rationale behind the imposition of sanctions
  • How differences in foreign policy objectives have resulted in differences, often conflicting, among the three major sanction regimes
  • The EU “Blocking Statute”
  • Useful tips on avoiding problems with compliance
Learning objectives:

By the end of the webinar, you will have a better understanding of:

  • The three major sanctioning regimes: EU, US, and UK
  • How foreign policy objectives of the underlying jurisdictions have shaped approaches to sanctions
  • Some of the areas wherein conflicts between sanctions regimes can pose problems for businesses
  • The “EU Blocking Statute”
  • Developing of procedures to identify potential risks of non-compliance
  • What steps can businesses take to mitigate the risk of violation
Who Will Benefit:
  • Bankers
  • International traders and shippers
  • Tourism providers
  • Sales representatives
  • Compliance personnel
  • Risk managers
Instructor Profile:
Kenneth Barden Kenneth Barden

Compliance Specialist, The Green Climate Fund

Kenneth Barden has over 30 years of professional experience in the legal and compliance fields. For much of his career, Mr. Barden served as a Senior Anticorruption and Good Governance Advisor with the Governance and Rule of Law Team for the United States Agency for International Development (USAID)Previously he served as an independent consultant for several international development projects, including ones funded by USAID, the Millennium Challenge Corporation (MCC), World Bank, United Nations, Asian Development Bank and others. Most recently, Ken led the Compliance team at the Green Climate Fund in South Korea where his team was responsible for conducting due diligence and integrity checks on climate change funding projects. Early in his career, Mr. Barden was a city attorney for two separate cities in the United States. Ken has significant experience in compliance and risk management, anti-money laundering and anti-corruption, and related integrity and accountability issues. Ken’s experience includes work in Eastern Europe, Central and Southeastern Asia, Oceania, the Middle East and Africa.

Refund Policy

Registrants may cancel up to two working days prior to the course start date and will receive a letter of credit to be used towards a future course up to one year from date of issuance. TrainBanking would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange.

Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time.

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