Webinar: Navigating Sanctions During 2021 and Beyond
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[WEBINAR] Navigating Sanctions During 2021 and Beyond
Compliance with sanctions remains a complex area and poses a great challenge for organisations due to its ever-changing landscape, inconsistency and regulatory scrutiny.
Identifying and responding effectively to-top line sanctions is not enough, as institutions must also identify sanctioned securities, i.e. any securities related to a sanctioned entity, including securities issued by subsidiaries of sanctioned companies or those where sanctioned individuals are beneficial owners. Failure to identify such securities and screen for related risk can result in both reputational damage and often hefty fines, but the process of identifying sanctions-related securities is often far from straightforward. With the Executive Order 13959 effective as of 11 January 2021, organisations need to be prepared to have certain controls in place to ensure they are not dealing with sanctioned securities.
Join this session to find out how securities are sanctioned, how this is implicitly extended by the OFAC 50% rule, and what controls are required to comply with these sanctions regimes.
Topics discussed:
- Latest global sanctions developments and impact on the financial industry
- What sanctions will look like post Brexit
- How can you ensure that you are not dealing with sanctioned securities?
- Understanding the breadth and implications of recent sanctions related to China with specific focus on the outlook and guidance for Executive Order 13959
- What are the practical solutions to ensure you remain compliant?
Speakers
Ernst Pienaar, Head of Specialist Research, World-Check - Refinitiv
In his current role, Ernst is responsible for all risk data inclusion policies, legal matters and knowledge management within World-Check. Ernst also acts as the lead Content Professional for the World-Check product for client and regulator engagements as it relates to international sanctions, law and regulatory enforcement matters, politically exposed persons compliance and financial and related crime screening. He is the former Global Head of Research for Financial Crime and Reputational Risk activities at Thomson Reuters World-Check. In this capacity, he was responsible for the management of the then 5 global World-Check Research centres (Santiago, Washington DC, Cape Town, Singapore and Penang) tasked with the creation and update of the World-Check and related risk databases for over 245 countries and territories in over 65 local languages.
He assumed responsibility for managing the World-Check global research team in 2009. Ernst joined World-Check in 2009 from the Sanlam Life Group where, over a ten year period, he was the Head of Forensic Investigations and Group Money Laundering Reporting Officer. Previously he was a Senior State Advocate with South Africa's Office for Serious Economic Offenses, and began his career as a State Prosecutor in Johannesburg. He holds a Master’s Degree in Constitutional Law, and LL.B and B.lur law degrees.
Ankur Kumar, Head of APAC Research at World-Check - Refinitiv
In his current role, Ankur is responsible for the management of World-Check research offices in Singapore and Penang which collate risk relevant content for APAC. Ankur is also the Content Professional for APAC responsible for client engagements as it relates to AML/CFT issues.
Prior to that, he was the Head of APAC’s Specialist Research team responsible for certain specialized content sets within World-Check such as threat finance, organized crime, green crime and human trafficking. Ankur joined World-Check in 2008 as a Research Analyst with the Specialist Research team.
He holds a Master’s degree in International Relations and is a Certified Anti-money laundering specialist (CAMS).
Loreta Liutkutė Habchi, Vice President, Head of EU Public Policy and Regulatory Affairs - Western Union
Loreta Liutkutė is a Vice President, Head of EU Public Policy and Regulatory affairs at Western Union in Brussels and a Vice-Chair of EPIF. She is responsible for Government relations strategy building, as well as engagement with the European and national Policy Makers, other financial services public and private stakeholders. She is Vice-Chair of EPIF (European Payments Institutions Federation), the member of Global Coalition to Fight Financial Crime (GCFC), the EPIF representative at SMB (Scheme Management Board) and ERPB (European Retail Payments Board), the member of PSMEG (the Payment Systems Market Expert Group) and a Board member of the EPFSF (European Parliamentary Financial Services Forum. Previously she also worked in a payments area for a global card scheme Visa as Regulatory affairs adviser and was actively engaged with European Policy makers, Regulators and Central Banks in France and Eastern European countries.
With over 10 years’ experience in payments, she established strong relationships with European Policy Makers and major financial institutions by providing them with a Regulatory advice on financial services legislation. She is particularly focused on Payment Services legislation, Digital Single Market, Data Protection, AML/CTF, Cybersecurity and Migration policies. During her carrier she also experienced as a volunteer Legal adviser in one of the biggest French NGO working with migrants by providing a legal assistance on the matters of Nationality, Asylum and Refugees status. Loreta holds a Master degree in European Law from the Lille II University in France.
Trisham Chundunsing, Senior Manager Public Policy - Amazon
Trisham is the Senior Manager Public Policy at Amazon, where he is responsible for delivering EMEA strategic policy programs focusing on payments, financial services, Fintech and tax. Trisham is actively engaged with regulators and policy makers across Europe. Previously Trisham worked for American Express in various functions at the General Counsel office in the UK and Belgium and was responsible for managing Regulatory Compliance Programs on payment services, consumer protection, AML/CTF and data protection in a number of jurisdictions.
Trisham is a member of the Board of Directors of the European Payment Institutions Federation (EPIF), attends a number of advisory committees and manages Amazon key financial services regulatory stakeholders in Europe. Trisham has expertise in Payment Services Directive regulations, Anti Money Laundering and Terrorist Finance Regulations, Consumer Credit and Lending Regulations and Data Protection Regulations. Trisham holds a Master Degree in International Business Law from McGill University in Montreal Canada.
Refinitiv, is one of the world’s largest providers of financial markets data and infrastructure. Serving more than 40,000 institutions in approximately 190 countries, we provide information, insights, and technology that drive innovation and performance in global markets. Our 160-year Reuters heritage of integrity enables customers to make critical decisions with confidence, while our unique open platform, best-in-class data, and cutting-edge technology bring greater opportunity to our customers. By advancing our customers, we drive progress for the entire financial community.
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