Partner in our Financial Crime team, David Savage has authored the EU Sanctions Enforcement chapter of the first edition of the GIR Practitioner’s Guide to Sanctions.
Global Investigations Review introduces the first edition of the guide, saying:
“We live in a new era for sanctions. More states are using them, in more creative (and often unilateral) ways.
“This creates ever more complication for everybody else. Hitherto no book has addressed all the issues raised by the proliferation of sanctions regimes and investigations in a structured way. GIR’s The Guide to Sanctions addresses that. Written by contributors from the small but expanding field of sanctions enforcement, it dissects the topic in a practical fashion, from every stakeholder’s perspective, providing an invaluable resource.”
David introduces the EU Sanctions Enforcement chapter as follows:
“The use of trade and financial sanctions by the European Union (EU) has become an increasingly important element of the bloc’s foreign policy. There are currently in operation 44 sanctions programmes – known as restrictive measures in the EU – in respect of 34 jurisdictions, representing a significant increase during the past decade. When considering the applicability of EU sanctions regimes to businesses operating within the bloc, as well as sanctions implemented by the United States (US) and specific regulations enacted by individual states, the scope for inadvertent breach is considerable and the consequences severe.
“It is imperative, therefore, that businesses based in or operating within the EU have an understanding of the various regimes with which they may need to comply, including those implemented by the United Nations (UN), the EU and the United Kingdom (UK), as well as the US, which has expanded the scope of its sanctions to apply to companies and individuals throughout the world.
“While there has historically been limited appetite for enforcement within EU Member States, certain jurisdictions are now beginning to identify, investigate and subsequently prosecute individuals and companies for breaching the various EU sanctions regulations and there remains considerable appetite across the EU to enforce anti-money laundering breaches. Compliance, therefore, has never been more important.”
The full guide contains information about various jurisdictions’ sanctions and their enforcement, as well as information on dealing with conflicting sanctions regimes. It goes on to cover sanctions with regulated entities and financial institutions, and sanctions compliance programmes. It also includes detail about sanctions investigations and export controls in different jurisdictions.
The full guide can be downloaded as an ebook, or purchased here.
You can find further information regarding our expertise, experience and team on our Financial Crime page.
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