OFAC Regulations and the Economic Sanctions Compliance Programs: Best Practices
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has been aggressively enforcing culpable businesses that violate its regulatory policies. As part of these efforts, the framework for OFAC Compliance Commitments was published in May 2019 to define the essential elements of an effective economic sanctions compliance program. Furthermore, stringent enforcement actions continue to take place even amidst the growing implications brought by the pandemic.
Thus, companies doing business internationally should take proactive steps in ensuring up-to-date OFAC and economic sanctions compliance programs to avoid legal liabilities.
Join international trade attorneys Audi Syarief (Gibson, Dunn & Crutcher LLP) and Jasmine Zaki (ArentFox Schiff LLP) as they examine current and emerging trends and developments in OFAC regulations and economic sanctions compliance programs. Speakers will also share common regulatory issues and challenges as well as essential tips to efficiently implement OFAC compliance policies and procedures.
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Associate Attorney U.S. Economic Sanctions Speaker & Author Gibson, Dunn & Crutcher LLP
Audi advises clients on U.S. economic sanctions and embargoes, export controls, and national security reviews. He has extensive experience in assessing civil and criminal enforcement risk, conducting internal investigations, strengthening trade compliance programs, and developing restricted-party screening protocols. He routinely advocates before OFAC, BIS, DDTC, and CFIUS, and has secured licenses and approvals, filed voluntary self-disclosures, responded to administrative subpoenas, and engaged in various other agency-engagement efforts to further client interests. He also regularly conducts due diligence reviews of corporate transactions from an international trade perspective, and advises on trade-related issues raised in civil litigation and arbitration matters.
Associate International Trade and Investment Law Speaker & Advisor ArentFox Schiff LLP
Jasmine advises clients operating in the Middle East and North Africa on commercial transactions and arrangements, including joint ventures, mergers and acquisitions, commercial agencies, and franchising agreements. Jasmine assists clients with structuring commercial contracts, distribution agreements, and services agreements and provides legal advice related to public international law, banking, policy, and political risk, economic development, and investment. In addition, she advised clients on entering emerging markets in post-conflict countries and countries in transition in the Middle East and Africa, with an emphasis on negotiating political, regulatory, and formation matters.
