Cos. Must Meet Evolving Sanctions Compliance Challenges
Law360 (May 2, 2018, 3:27 PM EDT) -- Businesses are now on notice that the U.S. Department of Treasury's Office of Foreign Assets Control intends to use its enforcement powers to police a broad array of potential interactions and relationships with sanctioned parties that cannot reliably be captured through traditional transaction due diligence and screening protocols, because they involve early-stage, informal and even undocumented relationships.
In a series of decisions and guidance, OFAC has decisively confirmed it will penalize firms that fail to identify sanctioned party relationships arising during pretransaction negotiations, or involving sanctioned parties merely acting on behalf of transaction counterparties.
Given the amorphous nature of the interactions...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!