Hong Kong Summit on Sanctions Compliance & Trade Controls

Registration and Continental Breakfast

Co-Chairs’ Opening Remarks

Economic Sanctions Year in Review and What to Expect in the Future: Regulatory and Enforcement Priorities

Patrick Hu (Invited)
Sanctions Compliance Officer
U.S. Department of the Treasury (Washington, DC)

• Overview of recent high-profile cases related to Asia
• Status on the uptick in sanctions enforcement in Asia Pacific Region
• Highlights of recent trends and priorities in sanctions enforcement
• Learn from compliance program failure – OFAC’s feedback on sanctions compliance reflected in recent enforcement
• Highlights of recent sanctions developments

Iran Sanctions Hot Buttons: Practical Insights into Latest Developments and How They Affect Companies in Asia

Daniel Moger
Regional Head of Sanctions, APAC
Citi (Hong Kong)
Former Principal Deputy Assistant Secretary Terrorist Financing and Financial Crime, U.S. Department of the Treasury

• Discuss recent developments on Iran and Russia. How companies in Asia can mitigate the risks
• Current status of the JCPOA
• How statutory exemption, general licenses, and specific licenses allow for the processing of otherwise prohibited activities?
• How to dig for the information for end customers and how far should you conduct the due diligence?
• Strategies for transaction by transaction screening on Iran Sanctions parties and names

Coffee and Tea Break

China – U.S. Frictions: How the evolving US-China Relationship impacts export controls and supply chains

Evelyn Mo
Head of Sanctions, Legal and Compliance
China Construction Bank Asia Corporation Limited (Hong Kong)

Donna Dong
Director, Global Export Control
Microsoft (China)

Johnny Xie
Managing Director
FTI Consulting (China)

• Impact of the Phase I trade deal and any Phase II talks
• US export control regulations – are changes on the horizon that will impact supply chains and compliance for companies operating in Asia
• Overview of latest new China export controls regime and penalties, including updates on the unreliable entities list, contrasting with US export controls
• “Decoupling”, fact or fiction
• How to adjust your supply chain and export controls compliance to mitigate risks?
• What MNCs need to know about recent trade policy changes
• How to resolve multi-jurisdiction regulations developments in the region
• Discuss using trade policy as a tool in the trade war

Sanctions Compliance Roundtable: Creating a Blueprint to Address Sanctions Compliance Quickly When New Sanctions Are Announced

Maggie Qiu
Head of Sanctions, Financial Crime Compliance Greater China & North Asia
Standard Chartered Bank (Hong Kong) Limited

Terry Irvine
Head of Export Control – Civil Aerospace
Rolls Royce (Derby, UK)

• How leading companies operating in Asia approach sanctions compliance and structure their program?
• What is the priority for your company programme
• How to update your program for the newest lists
• Best practices for monitoring potential legislation and potential new sanctions targets
• How to measure and categorize the clients or third parties depending on the level of risks, in response to the new parties added to the sanctions list?
• How to use internal resources efficiently to implement the compliance program into your daily operations?
• How to prepare the uncertainty of actions and other fast regulations
• How to train your employee to keep the compliance top of their mind

Network Luncheons: Share Best Practices with Your Industry Counterparts

Ramifications of U.S. Export Controls Enforcement: What is the Impact in Asia of the Increased Use of the Entity List?

Lynn Parker
Export Compliance Director, APAC
FLIR Systems Co. Ltd. (Hong Kong)

David Wolber
Associate General Counsel Global Financial Crimes Legal Advisory, Asia Pacific
The Hongkong and Shanghai Banking Corporation Limited (Hong Kong)

• What is the entity list? Why are these companies on the list?
• What should you do if your business partners or customers are in the list?
• Differences between entity list and sanctions SDN/secondary list
• What can companies in Asia do? What is the difference if you are non-US company?
• Balancing the business partners, customers, supply chain cost and compliance
• Scenarios: Do and don’ts for the denied parties

Focus on Shipping: Navigating Transport, Logistics Insurance Compliance Dilemmas

Vincent Qiu
Director Compliance, Region Asia
Hapag-Lloyd Pte. Ltd. (Singapore)

Harikrishna Chandrasekaran
Export Control Manager, Civil Aerospace, APAC
Rolls-Royce Singapore Pte Ltd

• OFAC’s and State Department’s focus on the shipping sector, designations, advisories and guidelines
• Recent enforcement actions arising out of the shipping sanctions violations and compliance guidelines
• Insurance coverage concerns for marine cargo charters liability insurance, and transfer of ownership
• Lessons learned from recent cases and how to reduce risk
• Impact of sanctions exclusions on your coverage

Cryptocurrency: Monitoring the Increasing Use of Cryptocurrency and Bartering to Evade Sanctions

Andy Meehan
Executive Director Legal and Compliance
Morgan Stanley (Hong Kong)

• Recent regulatory developments for cryptocurrency risks
• What is a potential sanctions evasion from cryptocurrency
• How to meet government requirements for “reasonable and proportionate”
• How to monitor and control cryptocurrency, payers, receivers and for other emerging payment methods
• How to identify and monitor possible high-risk customers and third parties since the payers are not traceable
• Discuss new technology developments tools to detect the risks including data mining, artificial intelligence and other software

Peer to Peer Exchange

Facilitated by speakers, participants will divide into smaller groups to exchange pressing and high stakes risk factors.

• Screening Best Practices
• Financial Industry Due Diligence Expectations for Transactions and Loans
• Conflict of Law and Blocking Statutes
• Emerging and Fundamental Technologies Regulations

End of Day One

Continental Breakfast

Co-Chairs Opening Remarks

Integrating Sanctions, Export Control and AML: How to Achieve Company Wide Risk Management Excellence

Albert Luk
Project Manager, Logistics-Compliance
Cisco (Hong Kong)

Leeann Morentz
Senior Vice President Asia Pacific, Head of Financial Crimes Risk Management
Wells Fargo Bank (Hong Kong)

• When sanctions, export controls laws converge — How to develop a robust and effective compliance program?
• Harmonize policies and processes across disciplines streamline your company’s compliance program
• Use automation structure to establish screening and internal approval procedure: Introducing innovation strategy and operational tools to help integration
• Experience sharing compliance metrics and structure to integrate sanctions, export controls and AML screening
• Use the database of sanctioned countries and entities to screen potential transactions: How to consolidate information and utilize existing or silo resources
• Customize your AML protocols based on the unique risks presented by your business
  

Risk Mitigation Roundtable: How to Mitigate US Secondary Sanctions Risks

Heywon Shin
Vice President, Global Economic Sanctions
Bank of America Merrill Lynch (Hong Kong)

• Lessons learned from recent high-profile cases on secondary sanctions
• Discuss the framework of secondary sanctions concerning Iran, North Korea, and other OFAC programs
• Tools for screening for secondary sanctions targets
• What the US government expects for due diligence, how much due diligence obligation your company should have
• How to get the necessary information for the due diligence
• Strategies to mitigate risk
  

Coffee and Tea Break

Focus on Russia Sanctions: Mastering the Challenges of Complying with Rapidly Changing Primary and Secondary Sanctions

Tamara Bonilla
Sanctions Program Manager
Intel Corporation (Santa Clara, CA)

• Overview of the latest sanction’ restrictions and impact of new Russia counter-sanctions
• Update on OFAC guidance of licensing and company licensing strategies
• How to resolve compliance challenges for companies in the financial and energy sectors
• Recent high-profile cases on secondary sanctions penalties
• Practical considerations and tools for screening, ownership and control
• Sharing innovative tools to mitigate secondary sanctions risks
• How deep should your due diligence go?
  

Emerging Sanctions Trends to Watch in the Next 12 Months

Jessica Lyn Bartlett
Director , Financial Crime Legal- APAC
Barclays (Hong Kong)

Speakers will walk you through the potential Sanction regulatory developments and hot button issues to watch for in next 6 months. Gain a big picture of the trends in order to proactively prepare for the coming months.

Topics will include:

• US, EU, UK, and UN taking different approaches to sanctions enforcement
• Magnitsky Act Sanctions targeting human rights violators
• Venezuela, North Korea and other counties
• OFAC enforcement targets industries in Asia, Hong Kong and China
• Evolving use of export controls, investment restrictions and supply chain restrictions
• Emerging technologies regulation developments

Conference Ends