Rejected and Blocked Transactions and OFAC Advisory for the Shipping, Maritime and Aviation Industries
The Westin Times Square
New York, NY
Blank Rome Partner Matthew J. Thomas will be a speaker at the American Conference Institute (“ACI”) 10th Annual New York Forum on Economic Sanctions, being held December 10 and 11, 2019, in New York, New York.
Matt’s panel, “Rejected and Blocked Transactions and OFAC Advisory for the Shipping, Maritime and Aviation Industries,” will take place Tuesday, December 10, from 2:45 to 3:30 p.m., and will cover:
- Blocked vs. rejected transactions: A refresher
- What industries are now mandatorily required to report a blocked or rejected transaction?
- How to define a “transaction” in the broader context: Does a business’s or individual’s “declination to engage” constitute a transaction? Does the existence of a contract equate with a transaction?
- How industry is managing the risk of sanctions evasion on behalf of business partners in charge of transportation of goods and services
- Vessel mapping, tracking and what to do if your freight forwarded turns off the transponder
- Uncovering the true current (and previous) ownership structures of transportation providers
- Examples of additional compliance “burdens” for global delivery and supply chain management companies regarding monitoring compliance on behalf of their clients and customers
The New York Forum on Economic Sanctions convenes a diverse mix of financial institutions, exporters, and their advisers to provide practical and timely, country-specific sanctions insights and address how to update sanctions compliance and risk management programs.
Day one of the conference will include two sessions with Daniel Cariello, Compliance Officer, Sanctions Compliance and Evaluation Division, Office of Foreign Assets Control, U.S. Department of the Treasury, and day two will feature remarks by David Peyman, Deputy Assistant Secretary for Counter Threat Finance and Sanctions, Bureau of Economic and Business Affairs, U.S. Department of State
For more information or to register, please visit the event webpage.