Treasury’s Office of Foreign Assets Control just sent out its invite for a symposium helping the Financial Industry learn about how to comply with sanctions. The symposium will include the following:
The Financial Symposium will feature a Keynote Address by OFAC Director Adam Szubin and presentations by key OFAC personnel on topics such as:
- Changes to the Iranian Transactions and Sanctions Regulations, NDAA and CISADA
- Enforcement guidelines and enforcement actions
- SDN List updates and information on the designation process
- Securities and Insurance
- Licensing procedures and guidance
- Compliance with U.S. economic and trade sanctions
In addition to formal presentations, OFAC staff will be available throughout the day for individual questions and ad hoc roundtable discussion on issues unique to the financial industry.
It’s actually fairly important that the sanctions regime be well-publicized. Not only does it help ensure compliance from any entity that might be considered liable. But that’s what gives it legitimacy: not just the fact that sanctions and their rationale appear well thought out (if you believe Iranians should have no access to medical devices and dental equipment, that is), but also that sanctions are somewhat fairly applied (which they’re not).
Apparently, Obama’s Treasury Department doesn’t see it this way.
The event is closed to press.