On May 2, 2019 OFAC published a Framework for OFAC Compliance Commitments, the agency’s first ever guidance that stipulates five essential elements of a company’s economic sanctions compliance program (SCP). The guidance requires organizations subject to US jurisdictions and foreign entities under US law to implement and continuously assess, via a risk-based approach, their SCP.
What does this mean for a company’s existing compliance program? What will OFAC enforcement look like? How are the penalties determined in the event of insufficient compliance?
ACI’s NEW one-day Sanctions Compliance Think Tank has been specifically designed to discuss these questions during in-house expert-led sessions on topics including:
- OFAC Guidance: Lessons Learned from Recent Enforcement Actions
- Managing Your Risk Profile: Potential Sanctions Landmines to Watch Closely and Address Proactively in Iran, Russia, Venezuela and Cuba
- Sanctions Training Programs: Duration, Frequency, Breadth and Content
- Focus on Audits: A More Nuanced Approach for Auditing & Testing Your Compliance Program
- Culture of Compliance: Proven Techniques to Win Senior Management Buy-in
This intimate, best-practice focused seminar will gather in-house sanctions compliance professionals to discuss the practical implications of implementing OFAC’s expectations for an SCP.
Join us for this hands-on seminar to solidify your understanding of the guidance and how OFAC is likely to set priorities going forward.
Bridget Van Buren
Sanctions Compliance Officer
Office of Foreign Assets Control (OFAC), U.S. Department of the Treasury (Washington, DC)
WHAT YOU WILL LEARN
- First-hand insight into what OFAC expects regarding compliance, including the 5 essential components of an SCP
- How your existing compliance program will be impacted and/or might have to be changed in order to remain compliant
- How your economic sanctions peers are implementing changes based on OFAC’s new guidance
CLE and CPE Credits Available
Park Lane Hotel
Address: 36 Central Park S, New York, NY 10019, USA
Phone: +1 212-371-4000