According to the UK-based CCP Research Foundation, the legal cost of litigation since 2010 at the 16 biggest global banks has broken the US$300 billion barrier.
The evolving range of global sanctions is an area of high potential risk for the In-House and Compliance teams of financial institutions and global businesses alike. With US Senator Chris Coons, a member of the Senate Foreign Relations Committee, suggesting the potential imposition of banking sanctions on Iran, the importance of keeping current on sanction risk for the Middle East and Russia could not be over-emphasised.
Exclusive sanctions webinar
In light of these developments, the In-House Community is pleased to present an exclusive webinar entitled An Overview of Financial Sanctions – what financial institutions and global businesses need to consider, presented by sanctions experts Dr Justine Walker, a leading expert in sanctions, counter terrorist finance and related compliance controls and Director Financial Crime (Sanctions and Bribery) at the British Bankers’ Association, and Peter Harrell, founder and Principal of Prospect Global Strategies LLC, a boutique consulting firm that advises on economic sanctions, political risk, due diligence, and international policy matters.
Providing an introduction to the legal and policy background of sanctions, this important and timely webinar will cover:
- The evolving scope of sanctions
- Higher risk jurisdictions and activities – managing sanctions compliance in complex and rapidly evolving political environments
- Russia and “Sectoral Sanctions” – screening, ownership and control considerations
- Comprehensive agreement on Iran – current state of play in the U.S. Congress and an overview of the critical areas requiring regulatory/legal clarity
- Emergent sanction risks, i.e. Islamic State (ISIS) – how to risk assess relationships with banks and entities operating in Islamic State controlled territory (for example Libya, Iraq and Syria)
- Sanctions screening, risk management and licensing considerations
- Sanctions health checks – what do you need to do now.
For more information on the presenters, and to register for the online forum, to take place on Thursday September 24th, 2015, please click here.
(Note, spaces are limited and will be allocated on a first-come, first reserved basis)
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