Financial institutions face an increasingly complex sanctions compliance environment. Sanctions are increasingly emerging at the forefront of compliance agendas given the proliferation of new restrictions and counter-measures, together with increasingly aggressive enforcement action extra-territorially. This is impacting both financial institutions and their clients, leading to expectations for more robust compliance programs for both. This has been acutely felt most recently in the Middle East following the USD 100 million sanctions fine against a Dubai based bank, as UAE branches of global banks continue to face on-going monitoring from foreign regulators following settlements for past sanctions violations involving the payment of significant penalties.
To help consider the implications of this recent sanctions fine for the Gulf market, together with risk mitigation strategies more broadly, Baker McKenzie is pleased to invite you to an interactive webinar focused on sanctions compliance in the Gulf. Our panel will include partners from our UK, US and Middle East sanctions teams, and will discuss the following themes from the perspective of both lenders and borrowers:
- Implications following recent fines for sanctions breaches imposed on UAE based banks
- Recent sanctions legislative developments, including the UAE’s targeted financial sanctions regime
- Specific sanctions risks and obligations for banks and other financial institutions
- Compliance risk implications for corporate borrowers and issuers
For more information about the webinar and to register, please visit: Sanctions Compliance Strategies for the Financial Services Sector in the Gulf | Insight | Baker McKenzie