Pre-Conference Working Groups
Tuesday, April 24, 2012
OFAC ad EU Screening Working Group “A”
9:00 a.m. - 12:30 p.m.
A Deep Dive into OFAC and EU Screening, Re-Screening and List Management: A Practical Guide to Implementing Sanctions, Data Protection and Privacy Law Restrictions
Alexandre Manfull
Chief, Blocked Assets Administration and Analysis
Office of Foreign Assets Control
U.S. Department of the Treasury (Washington, DC)
Molly McLane
Global Economic Sanctions Counsel
Morgan Stanley (New York, NY)
Kevin Willis
Vice President, International Trade Compliance
Tyco International Ltd. (Princeton, NJ)
Scott M. Flicker
Partner
Paul Hastings LLP (Washington, DC)
Amid evolving OFAC and EU sanctions, conflicting foreign data protection and privacy laws, and multiple SDN and EU lists, it has become increasingly complex to ensure effective global screening, risk assessment and mitigation. This practical, in-depth working session will take you through the ins and outs of ensuring successful global list management and incorporating both OFAC and foreign laws and regulatory restrictions into your overall sanctions compliance strategy.
Attendees will have an invaluable opportunity to ask OFAC directly about their compliance expectations, and hear diverse industry best practices on how to strengthen your approach to global screening and re-screening in 2012 and beyond.
Topics will include:
- Integrating SDN and State Department designations into you filtering system
- Reconciling OFAC screening requirements with EU data privacy laws: When EU data privacy authorities will grant waivers and allow for the use of exceptions
- Who, what and how often to screen amid tightened EU sanctions, including beneficial owners and corporate board members
- Key elements of EU data protection and privacy law restrictions
- Applying data protection laws in Germany, Norway, Sweden: When you can/cannot screen against OFAC lists in these countries
- Do’s and don’ts for effective list management
- When and how to re-screen
- Blending US and EU lists
- Ensuring good end-user screening
- Screening against the UK private list
- How far to go in vetting a party
- Conducting risk assessment to ensure good filtering systems-different considerations for big vs. small financial institutions
Internal Investigations Working Group “B”
1:30 p.m.-5:00 p.m.
Conducting Effective Internal Investigations in the U.S. and Abroad: Refining Your Approach to Addressing Sanctions-Specific Risks and Conflict of Laws
Michael S. Schidlow
Vice President
Senior Investigator, Global Corporate Security,
Investigative Services
Bank of America (New York, NY)
Joshua Holzer
Chief Compliance Counsel for Global Trade
Pfizer Inc. (New York, NY)
Meredith Rathbone
Partner
Steptoe & Johnson LLP (Washington, DC)
Corporations and individual directors, officers, and employees can face substantial criminal and civil liability when suspected or actual OFAC violations, internal investigations or voluntary disclosures are mishandled.
This interactive and practical workshop will provide a detailed look at how to conduct internal investigations involving possible OFAC violations – best practices and proven strategies for conducting effective investigations, significant legal and factual issues you need to address, as well as common pitfalls to avoid. With practical discussion, exercises, and valuable speaker-prepared reference materials, you will take away valuable tools that can be applied to your work. Issues to be covered will include:
- Deciding whether and when to investigate, and to what degree
- Who should conduct the investigation: Roles of in-house compliance and legal groups vs. outside counsel and forensic accountants
- How an OFAC-related investigation differs from an AML investigation
- Working with IT and other internal departments: Communicating and executing comprehensive requests to technical groups
- Conducting an internal investigation involving a foreign subsidiary or affiliate
- reconciling investigative objectives with foreign privacy laws and blocking statutes
- collecting and preserving documents in and outside of the US
- When to call OFAC, and when OFAC will take over the investigation
- Investigative findings: Resolving a legitimate hit with OFAC
- When and how to do a voluntary disclosure
- Identifying and implementing remedial measures, including tightened systems and targeted training
- Preparing for the investigation: Defining the role of senior management during the investigation, and preparing company officials for interviews
- Protecting attorney-client privilege: When and how to assert privilege
Conference Details