The forum aims to inform and empower stakeholders operating in banking, finance, regulation, insurance, international trade, maritime, compliance, government, and legal sectors.
In the organizers’ words:
“The aim is to deliver a programme that is topical and relevant for all participants in response to the UK OFSI and US OFAC activity earlier this year”.
The presentations will assist attendees in identifying relevant risks. This will be done by having presentations that cover the political and diplomatic context, judicial and regulatory viewpoints, and technical legal points.
In the morning, the political and regulatory framework will be covered, followed by UK OFSI and sanctions issues relating to contracts, financial crime (e.g., where there are breaches of sanctions there may also be AML issues), and commercial/insurance issues.
In the afternoon there will be a focus on the judicial position followed by legal input on US OFAC measures from experts on US trade and regulation from Barnes & Thornburg LLP.
Mark Fenhalls KC is a former chair of the bar council of England and Wales and is an experienced criminal barrister with extensive financial crime experience background. His address will touch more on the judicial thread, and he will be followed by the Cyprus Minister of Justice.
Barnes & Thornburg LLP is a US law firm with one of the preeminent trade and regulatory practices in the US. Two partners will be joining the organizers in Cyprus, Adetayo Osuntogun is an international trade specialist and Scott Hulsey has experience at a senior level in the US Department of Justice as well as experience as Chief Compliance Officer at General Electric Energy Connections (now GE Vernova), a company with over 45,000 employees that operated in more than 122 countries.
The Barnes & Thornburg team will address, among other things, the general perimeter of US sanctions risk, the legal framework surrounding a US executive order implementing sanctions (e.g., EO 14024 that is relevant in Cyprus at present), the legal and commercial impact of US sanctions on US connected business and their counterparties, and trade and sanctions issues.
Although, the recent US and UK designation of Cyprus businesses has a high profile the organizers focus more on addressing the potential exposure of the broader Cyprus business community to direct or indirect sanctions risks, particularly arising from contracts, trade or insurance issues. It is the organizers’ belief that both the US and UK team will be helpful here.
You can register here.