Tag: trade sanctions

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Everything Compliance

Episode 95, the Russia Invades Ukraine Edition


Welcome to the only roundtable podcast in compliance. The entire gang was also recently honored by W3 as a top talk show in podcasting. In this episode, we have the quartet of Jonathan Marks, Karen Woody, Jonathan Armstrong, Tom Fox and Matt Kelly. We dedicate the entire episode to compliance issues arising from the Russia invasion of Ukraine. We conclude with our fan favorite Shout Outs and Rants.

  1. Karen Woody considers the impact of corruption in both Russia and Ukraine going forward. Karen shouts out to the Ukraine’s U.N. Ambassador Sergiy Kyslytsya for his impassioned plea for Russia to stop its invasion of his country this week, at the United Nations.
  1. Matt Kelly looks at the export control issues and sanctions issued by the US and its allies in this arena. Kelly shouts out Jackson Reffitt, who testified against his father in his father’s Capital Insurrection trial.
  1. Jonathan Marks discusses the sanctions which have been levied by the Biden Administration, how to assess this evolving risk and the role of the Board in managing this risk. Marks rants about Bob Blaffert (again)  and shouts out to Sonny Johnson, an autistic basketballer who made the game winning shot that helped his team win its final game of the season.
  1. Jonathan Armstrong looks at how the shooting war in the Ukraine has spilled over into a cyber war across the globe. Armstrong shouts out to Paddington Bear for giving comfort to refugees across the globe and to the voice of Paddington Bear, Ukrainian President Zelensky.
  1. Tom Fox shouts out to the Texas GOP for stopping AG Ken Paxton from renomination in the party’s primary and for forcing him into a run-off with George P. Bush.

 The members of the Everything Compliance are:

  • Jay Rosen– Jay is Vice President, Business Development Corporate Monitoring at Affiliated Monitors. Rosen can be reached at JRosen@affiliatedmonitors.com
  • Karen Woody – One of the top academic experts on the SEC. Woody can be reached at kwoody@wlu.edu
  • Matt Kelly – Founder and CEO of Radical Compliance. Kelly can be reached at mkelly@radicalcompliance.com
  • Jonathan Armstrong –is our UK colleague, who is an experienced data privacy/data protection lawyer with Cordery in London. Armstrong can be reached at armstrong@corderycompliance.com
  • Jonathan Marks is Partner, Firm Practice Leader – Global Forensic, Compliance & Integrity Services at Baker Tilly. Marks can be reached at marks@bakertilly.com

The host and producer, ranter (and sometime panelist) of Everything Compliance is Tom Fox the Voice of Compliance. He can be reached at tfox@tfoxlaw.com. Everything Compliance is a part of the Compliance Podcast Network.

Categories
FCPA Compliance Report

Matt Silverman on Preparing for Potential Sanctions Against Russia


In this episode of the FCPA Compliance Report, I am joined by Matt Silverman, Director of Trade Compliance at VIAVI. In Part 1, we considered the potential U.S. sanctions if Russia invades Ukraine. In this Part 2, we discuss what you can do to prepare for such an eventuality. Highlights in include:

  • First, ascertain your exposure and consider how some or all of these actions would impact your business.
  • Check your sanctions screening policies and procedures and check your customers and business partners in real time against global sanctions lists.
  • Identify all of your contracts with Russian entities or individuals and review your contracts for compliance with law clauses, notice clauses, and termination provisions.
  • Know your customer.
  • Identify what, if any, items, or technology you are exporting to Russia and any transactions with Russian entities that have ongoing or continuing obligations.
  • Take a look at your supply chain to avoid business interruption.
  • Identify whether you have any outstanding debts from Russian entities or individuals, and, if so, promptly purse collection activities.
  • Identify any procurement or manufacturing activities for goods intended for Russia and consider whether you can safely postpone or delay those activities, especially if you are dealing with specially designed or non-fungible goods (without breaching any contracts or risking failure to meet deadlines).

Resources
Matt Silverman on LinkedIn

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Compliance Kitchen

EU Prohibits Political Disinformation


EU to establish sanctions regime against foreign State actors for spreading political disinformation.

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Daily Compliance News

January 4, 2022 the Why Upgrade Edition


In today’s edition of Daily Compliance News:
·       Airbnb settles Cuba trade sanction case. (WSJ)
·       Danske Bank builds out its compliance function. (WSJ)
·       How much does outdated data protection cost a business? (Reuters)
·       Why perform DD pre-acquisition. (Reuters)

Categories
Compliance Kitchen

Trade Sanctions Evasion Enforcement Action


DOJ sentences an owner of a Russian energy company for U.S. trade sanctions evasion.

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Compliance Kitchen

Sanctions Against Oil Smuggling Network


The US sanctions an international oil smuggling network for acting as intermediary to support Iran’s illicit activities. The Kitchen is there to take a closer look.

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EMBARGOED!

EMBARGOED! Episode 34: Around the World in 60 Minutes: Hong Kong, Cuba, Russia, Iran (and China)

Brian and Tim check in on a wide range of topics, including the newly issued Hong Kong Business Advisory, the U.S. response to the crackdown in Cuba, the fate of Nord Stream 2, and the (possibly dimming?) prospects for JCPOA 2.0. Then, in the Lightning Round, we spend a few minutes sharing our thoughts on the first six months of sanctions and export controls enforcement activity under the Biden administration.

Subscribe * Apple Podcasts * Spotify *  Amazon Music  * Google Podcasts * Stitcher
Questions? Contact us at podcasts@milchev.com.
EMBARGOED! is not intended and cannot be relied on as legal advice; the content only reflects the thoughts and opinions of its hosts.
Timestamps:
0:10 Introduction and Roadmap
The Rundown
4:30 Hong Kong Business Advisory
14:38 The Cuban People Rise Up… and Sanctions Follow
27:34 U.S.-Germany Agreement on Nord Stream 2
39:10 The Latest on JCPOA 2.0
52:45 Lightning Round: Early Trends in Biden Era Enforcement
1:05:55 Final Thoughts
***Stay sanctions free.***
 

Categories
Compliance Kitchen

EU moves forward with Brexit Adjustment Reserve; SAP Settlement, OFAC and DOJ


This episode takes a look at EU’s declaration that it is moving forward with the Brexit Adjustment Reserve. We also touch on the recent SAP settlement with the US government in connection with the US sanctions regime.

Categories
Life with GDPR

Trade Sanctions, AML and Export Control after Brexit


In this episode Jonathan Armstrong and Tom Fox are back to discuss issues relating to data privacy, data protection and GDPR. Today, we conclude a 3-part series on issues relating to GDPR after Brexit. They include data protection, data transfer and issues related to trade sanctions, AML and export control. In this episode we consider trade sanctions, anti-money laundering and export control after Brexit.
Resources
Check out the Cordery Compliance Client alert on the data transfer after Brexit here.
Check out the Cordery Compliance, client alert on this topic, click here. For more information on Cordery Compliance, go their website here. Also check out the GDPR Navigator, one of the top resources for GDPR Compliance by clicking here.

Categories
FCPA Compliance Report

Eric Lorber on How the Trade Sanction Sausage is Made


Ever wonder how the sausage is made around economic and trade sanctions? What is the process for persons and companies to be put on the sanctioned lists? Then this is the podcast for you as I am joined by Eric Lorber.
Eric is a vice president at K2 Intelligence Financial Integrity Network, where he advises global financial institutions on issues related to sanctions and anti-money laundering/combating the financing of terrorism compliance. Prior to re-joining FIN, Eric was a senior advisor to the Under Secretary for Terrorism and Financial Intelligence at the United States Department of the Treasury, where he provided strategic guidance on U.S. sanctions and AML/CFT policies. He is also the senior director of the Center of Economic and Financial Power at the Foundation for Defense of Democracies.
Some of the highlights include:

  • What is the process for creation of economic sanctions?
  • How does an individual or corporation go on the economic sanctions list?
  • What is the role of the DOJ?
  • Who at Treasury leads the effort?
  • What is the process for enforcement?
  • Why does Treasury have such an ongoing educational effort around sanctions?