2ND EUROPEAN FORUM ON

Economic Sanctions

Wednesday, December 09, 2009

About

Amid the £231 Million Lloyds TSB Penalty and Widening OFAC Investigations Across Europe, Can your Sanctions Compliance Programme Sustain the Heat of an Enforcement Action?

Now more than ever, economic sanctions pose unprecedented compliance risks for financial institutions and global companies in Europe. Lloyds TSB recently agreed to pay a £231 million penalty, the largest fine ever imposed for violations of US sanctions regulations. The probe is widening and the investigation has reportedly expanded to nine European banks. US enforcement actions affect companies and banks with a presence in the United States but also those that engage in transactions using US dollars or involving US banks. These actions further demonstrate the extraterritorial reach of US laws and regulations, which can carry significant monetary penalties and reputational damage for non-US companies and financial institutions. Companies in Europe must institute preventative measures and reassess their existing compliance efforts to ensure their adequacy under the increased climate of risk. Failure to detect and prevent sanctions breaches is otherwise likely to result in staggering penalties and reputational damage. After the success of their inaugural conference in London, American Conference Institute and C5 Group are pleased to introduce the 2nd European Forum on Economic Sanctions, Frankfurt edition. A stellar faculty of senior government officials, industry leaders and seasoned attorneys will provide the latest insights on:

  • How OFAC regulates the activities of parties in the global payment process
  • Investigating potential sanctions breaches and managing restrictions from regional banking secrecy, data protection and privacy laws
  • What is – and isn’t considered facilitation
  • European economic sanctions update: regulatory and enforcement initiatives impacting your operations
  • Preventing sanctions breaches in international transactions and underwritings
  • Addressing directly opposing sanctions regimes

Contents & Contributors

About

Amid the £231 Million Lloyds TSB Penalty and Widening OFAC Investigations Across Europe, Can your Sanctions Compliance Programme Sustain the Heat of an Enforcement Action?

Now more than ever, economic sanctions pose unprecedented compliance risks for financial institutions and global companies in Europe. Lloyds TSB recently agreed to pay a £231 million penalty, the largest fine ever imposed for violations of US sanctions regulations. The probe is widening and the investigation has reportedly expanded to nine European banks. US enforcement actions affect companies and banks with a presence in the United States but also those that engage in transactions using US dollars or involving US banks. These actions further demonstrate the extraterritorial reach of US laws and regulations, which can carry significant monetary penalties and reputational damage for non-US companies and financial institutions. Companies in Europe must institute preventative measures and reassess their existing compliance efforts to ensure their adequacy under the increased climate of risk. Failure to detect and prevent sanctions breaches is otherwise likely to result in staggering penalties and reputational damage. After the success of their inaugural conference in London, American Conference Institute and C5 Group are pleased to introduce the 2nd European Forum on Economic Sanctions, Frankfurt edition. A stellar faculty of senior government officials, industry leaders and seasoned attorneys will provide the latest insights on:

  • How OFAC regulates the activities of parties in the global payment process
  • Investigating potential sanctions breaches and managing restrictions from regional banking secrecy, data protection and privacy laws
  • What is – and isn’t considered facilitation
  • European economic sanctions update: regulatory and enforcement initiatives impacting your operations
  • Preventing sanctions breaches in international transactions and underwritings
  • Addressing directly opposing sanctions regimes

Contents & Contributors

The Extraterritorial Reach of US Sanctions: How OFAC Rules Apply to Non-US Entities and Activities
Greta Lichtenbaum, O’Melveny & Myers LLP (Washington)

Widening OFAC Investigation of European Entities: The Aftermath of Lloyds TSB Penalty and How to Prepare
John B. Reynolds, Wiley Rein LLP (Washington)

Complying with Tightened Iran Sanctions: What You Can and Can’t Do
David Barry, EMEA Trade Compliance Manager, Honeywell (Dublin)
Sunwinder Mann, Baker and McKenzie LLP (London)
Eva Rehberg, Parter, Customs & International Trade, Deloitte Accountants BV (Germany)

SWIFT Wire Transfer Transparency Initiatives: New Standards and Their Requirements
Nicolas Stuckens, Marketing Manager, AML & Sanctions| Banks and Payments, Market Infrastructures, SWIFT (London)

Implementing a Robust Screening Programme to Meet US and EU Prohibitions and Requirements
Tom Scampion, Partner, Enterprise Risk Services, Deloitte LLP (London)
Peter Green , Chief Money Laundering Reporting, BNP Paribas (Paris)
Peter Klein, Head of Export and Trade Controls, Airbus (Toulouse)

Investigating Potential Sanctions Breaches: How to Access Information and Comply with Data Protection and Privacy Laws
Martial Smets, Chief Compliance Officer , GE Global Banking (Prague)
Joseph P. Armao, Linklaters LLP (New York)

The Facilitation Prohibition: What It Is and How to Minimize Risks
Wolter Boerman, Vice President, Corporate Export Controls & Supply Chain, Security , Philips International (Eindhoven)
William B. Hoffman , Davis Polk & Wardwell (Washington)

Developing a Risk-Based Compliance Programme, from the Ground Up: Core Components and How to Promote Awareness
Laurent Claassen, Partner, Deloitte Enterprise Risk Services/Financial Services Industry, Deloitte Accountants BV (Amstelveen, The Netherlands)
Tassilo W. Amtage, Head of Foreign Trade & Sanctions, Commerzbank AG (Frankfurt)
Markus E. Schulz, Chief Compliance Officer Global Life & Banking, Group, Financial Crime Officer, Zurich Financial Services (Zurich)
Jens Burgard, Senior Corporate Counsel, Siemens AG (Frankfurt)

Update on European Economic Sanctions: Regulatory and Enforcement Initiatives Impacting Your Operations
Richard Reimer, Lovells LLP (Frankfurt)

Preventing Sanctions Breaches in International Transactions and Underwritings
Mark Anderson, Head of AML Compliance, EMEA, UBS Investment Bank (London)
Stefan Heinisch, Senior Legal Counsel, Group Legal Services – Compliance, Hannover Re (Hannover)
Dale C. Turza, Cadwalader, Wickersham & Taft LLP (Washington)

Reconciling Conflicts of Law Between US and EU Sanctions Regimes and Blocking Measures
Stephan Müller, Oppenhoff & Partner Rechtsanwalte (Frankfurt)



DOCUMENT TYPES: PPT PPTX PDF PRESENTATIONS AVAILABLE: 16

8:00
Registration and Coffee
8:30
Co-Chairs' Opening Remarks
Mr. Tassilo W. Amtage
Head of Foreign Trade & Sanctions
Commerzbank AG
Mr. Jeremy Carver
Consultant‚ Head of International Law
Clifford Chance LLP
9:00
The Extraterritorial Reach of US Sanctions: How OFAC Rules Apply to Non-US Entities and Activities
Greta Lichtenbaum

O'Melveny & Myers LLP
1 file
The Extraterritorial Reach of U.S. Economic Sanctions Laws
557.5 KB 10 pages Presentation
PPT - The Extraterritorial Reach of U.S. Economic Sanctions Laws
9:30
Widening OFAC Investigation of European Entities: The Aftermath of Lloyds TSB Penalty and How to Prepare
John B. Reynolds, III

Wiley Rein LLP
1 file
Voluntary Disclosures:
231.5 KB 14 pages Presentation
PPT - Voluntary Disclosures:
10:15
Morning Coffee Break
10:30
Complying with Tightened Iran Sanctions: What You Can and Can't Do
Mr. David Barry
EMEA Trade Compliance Mgr
Honeywell
1 file
Complying with Tightened Iran Sanctions: What you can and can’t do
957 KB 29 pages Presentation
PPT - Complying with Tightened  Iran Sanctions:  What you can and can’t do
Mr. Sunwinder Mann

Baker & McKenzie LLP
1 file
Complying with Tightened Iran Sanctions: What you can and can’t do
957 KB 29 pages Presentation
PPT - Complying with Tightened  Iran Sanctions:  What you can and can’t do
Ms. Eva Rehberg

Deloitte Accountants BV
1 file
Complying with Tightened Iran Sanctions: What you can and can’t do
957 KB 29 pages Presentation
PPT - Complying with Tightened  Iran Sanctions:  What you can and can’t do
11:30
SWIFT Wire Transfer Transparency Initiatives: New Standards and Their Requirements
Mr. Nicolas Stuckens
Marketing Manager‚ AML & Sanctions| Banks and Payments Market Infrastructures
SWIFT
1 file
Transparency in Cover payments
1.9 MB 14 pages Presentation
PPT - Transparency in Cover payments
12:00
Networking Lunch for Speakers and Attendees
13:30
Keynote Address
Mr. Karel Kovanda
Deputy Director General in charge of CFSP‚ Multilateral Relations and North America‚ East Asia‚ New Zealand‚ EEA‚ EFTA
European Commission
14:00
Implementing a Robust Screening Programme to Meet US and EU Prohibitions and Requirements
Mr. Tom Scampion
Partner‚ Enterprise Risk Services
Deloitte LLP
1 file
Implementing a robust screening programme to meet US & EU prohibitions and requirements
1.5 MB 17 pages Presentation
PPT - Implementing a robust screening programme to meet US & EU prohibitions and requirements
Mr. Peter Green
Chief Money Laundering Reporting
BNP Paribas
1 file
THE APPROACH OF A MAJOR EUROPEAN INTERNATIONAL BANK
540 KB 10 pages Presentation
PPT - THE APPROACH OF A MAJOR EUROPEAN INTERNATIONAL BANK
Mr. Peter Klein
Vice President, Export and Trade Compliance
Airbus
1 file
Robust Screening to meet EU and US prohibitions
1.5 MB 15 pages Presentation
PPT - Robust Screening to meet EU and US prohibitions
15:00
Refreshment Break
15:15
Investigating Potential Sanctions Breaches: How to Access Information and Comply with Data Protection and Privacy Laws
Mr. Martial Smets
Chief Compliance Officer
GE Capital - Global Banking
1 file
Investigating US Economic Sanctions Violations
135.5 KB 8 pages Presentation
PPT - Investigating US Economic Sanctions Violations
Mr. Joseph P. Armao
Partner
Linklaters LLP
1 file
Investigating US Economic Sanctions Violations
135.5 KB 8 pages Presentation
PPT - Investigating US Economic Sanctions Violations
16:15
The Facilitation Prohibition: What It Is and How to Minimize Risks
Mr. Wolter Boerman
Vice President‚ Corporate Export Controls & Supply Chain Security
Philips International
Mr. William B. Hoffman
Counsel
Davis Polk & Wardwell
1 file
The Facilitation Prohibition: What It Is – How to Minimize Risks
511 KB 14 pages Presentation
PPT - The Facilitation Prohibition: What It Is – How to Minimize Risks
17:15
Conference Adjourns to Day 2
9:00
Opening Remarks from Conference Co-Chairs
9:05
Developing a Risk-Based Compliance Programme‚ from the Ground Up: Core Components and How to Promote Awareness
Laurent Claassen
Partner | Deloitte Enterprise Risk Services/Financial Services Industry
Deloitte & Touche Germany
1 file
Input panel discussion “Developing a risk based compliance programme from the Ground Up: Core Components and How to Promote Awareness”
897.4 KB 6 pages Presentation
PPTX - Input panel discussion “Developing a risk based compliance programme from the Ground Up: Core Components and How to Promote Awareness”
Mr. Tassilo W. Amtage
Head of Foreign Trade & Sanctions
Commerzbank AG
1 file
Developing a Risk-Based Compliance Programme, from the Ground Up
667 KB 4 pages Presentation
PPT - Developing a Risk-Based Compliance Programme, from the Ground Up
Mr. Markus E. Schulz
Chief Compliance Officer Global Life & Banking‚ Group Financial Crime Officer Group Compliance
Zurich Financial Services
1 file
Developing a risk based compliance programme from the Ground Up: Core Components and How to Promote Awareness
1.4 MB 13 pages Presentation
PPT - Developing a risk based compliance programme from the Ground Up: Core Components and How to Promote Awareness
Dr. Jens Burgard
Senior Corporate Counsel
Siemens AG
1 file
The Siemens Compliance Program
3.4 MB 15 pages Presentation
PPT - The Siemens Compliance Program
10:15
Update on European Economic Sanctions: Regulatory and Enforcement Initiatives Impacting Your Operations
Dr. Richard Reimer
Counsel
Lovells LLP
1 file
Update on European Sanctions: Regulatory and Enforcement Initiatives impacting your operations
622.2 KB 25 pages Presentation
PDF - Update on European Sanctions: Regulatory and Enforcement Initiatives impacting your operations
Mr. Jeremy Carver
Consultant‚ Head of International Law
Clifford Chance LLP
11:00
Coffee Break
11:15
Preventing Sanctions Breaches in International Transactions and Underwritings
Mr. Mark Anderson
Head of EMEA AML Compliance
UBS Investment Bank
1 file
PREVENTING SANCTIONS BREACHES IN INTERNATIONAL TRANSACTIONS AND UNDERWRITINGS
268 KB 10 pages Presentation
PPT - PREVENTING SANCTIONS BREACHES IN INTERNATIONAL TRANSACTIONS AND UNDERWRITINGS
Mr. Stefan Heinisch
Senior Legal Counsel‚ Group Legal Services - Corporate Matters
Hannover Re
1 file
PREVENTING SANCTIONS BREACHES IN INTERNATIONAL TRANSACTIONS AND UNDERWRITINGS
268 KB 10 pages Presentation
PPT - PREVENTING SANCTIONS BREACHES IN INTERNATIONAL TRANSACTIONS AND UNDERWRITINGS
Ms. Dale C. Turza
Partner
Cadwalader‚ Wickersham & Taft LLP
1 file
PREVENTING SANCTIONS BREACHES IN INTERNATIONAL TRANSACTIONS AND UNDERWRITINGS
268 KB 10 pages Presentation
PPT - PREVENTING SANCTIONS BREACHES IN INTERNATIONAL TRANSACTIONS AND UNDERWRITINGS
12:15
Reconciling Conflicts of Law Between US and EU Sanctions Regimes and Blocking Measures
Mr. Stephan Müller
Attorney at Law
Oppenhoff & Partner Rechtsanwalte
1 file
Conflicting Requirements
458.5 KB 25 pages Presentation
PPT - Conflicting Requirements
12:45
Co-Chairs Closing Remarks and Conference Ends