Speaking Engagement

Managing Sanctions Risks in a Shifting Regulatory Landscape

ACAMS 7th Annual AML Risk Management Conference

21 Jun 2019 09:30 a.m. - 10:30 a.m.

New York Marriott Marquis
1535 Broadway
New York, NY 10036

John E. Smith, co-head of Morrison & Foerster’s National Security, Sanctions and Export Controls practice and former Director of the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) will be participating in a panel at ACAMS 7th Annual AML Risk Management Conference in New York, NY on June 21, 2019.

The panel will be discussing multiple aspects of best practices for firms to follow in regards to sanctions including:

  • Developing institutional robust screening systems to keep abreast of and promptly incorporate sanctions changes and modifications to OFAC’s SDN and Sectoral Sanctions Identifications lists;
  • Conducting staff training to ensure identification of 50% owned subsidiaries of sanctioned individuals and entities via various ownership structures; and
  • Examining lessons learned from recent penalties imposed by OFAC on foreign banks with US branches for noncompliance of US sanctions.

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