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Risks and Controls

Articles

Iran “Implementation Day” creates new sanctions compliance challenges

By: Anna Sayre, reporter SanctionsAlert.com 
Date: May 20, 2016

On January 16, 2016, the U.S. and the European Union implemented a plan to reduce sanctions against Iran. Now known as “Implementation Day,” it follows the Joint Comprehensive Plan of Action (JCPOA), of July 14, 2015 among the US, Russia, China, France, the UK, Germany (known as “P5+1”) and Iran. Under the JCPOA, the Iranian government agrees to significantly reduce its nuclear program in exchange for a relative easing of sanctions imposed by the United Nations, EU, and United States. (more…)

Growing personal liability for compliance officers for regulatory lapses may be invading C Suite

Date: April 20, 2016

The crackdown by regulators worldwide to hold individuals accountable for the regulatory failings of the financial institutions where they work is gaining momentum. Regulators are increasingly emphasizing the importance of imposing liability on individuals who work at financial institutions at all levels, especially when their misconduct is intentional and knowingly carried out. (more…)

Growing personal liability for compliance officers for regulatory lapses may be invading C Suite

Date: April 20, 2016

The crackdown by regulators worldwide to hold individuals accountable for the regulatory failings of the financial institutions where they work is gaining momentum. Regulators are increasingly emphasizing the importance of imposing liability on individuals who work at financial institutions at all levels, especially when their misconduct is intentional and knowingly carried out. (more…)

Panama Papers expose threat to U.S. national security through violations of U.S. sanctions enforced by OFAC

Date: April 12, 2016

While most of the attention from the leak of 11 million electronic records from the Panama law firm, Mossack Fonseca, has focused on the undisclosed wealth of worldwide public officials that is hidden in the secrecy haven of Panama, it is now clear that the more sinister clients of this law firm are persons who are subject to economic sanctions imposed by the United States. (more…)

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