ICC Trade Finance Masterclass - Sanctions in Trade Finance Agenda | 26 March 2024

ICC United Kingdom invites you to attend the Trade Finance Masterclass on Sanctions in Trade Finance taking place on 26 March 2024.

Sanctions imposed by governments or international bodies to achieve foreign policy, national security, or international trade policy objectives have a huge impact on trade finance and complying with the various sanctions regimes across different jurisdictions can be complex and challenging. In this masterclass, our expert speakers will discuss the current state of play and will share advice on compliance best practice.

 PROGRAMME


Tuesday 26th March

In-person only - Cleary Gottlieb Steen & Hamilton LLP, 2 London Wall Place, London, EC2Y 5AU

3.00pm - 3.15pm | Arrival

3.15pm - 3.20pm | Welcome remarks

  • David Meynell, Senior Technical Advisor, ICC Banking Commission Finance for Development

  • Chris Moore, Partner, Clearly Gottlieb Steen & Hamilton LLP

3.20pm - 3.35pm | Major international sanctions programs

Sanctions are a constant yet changeable challenge for those involved in trade finance. In this session, our expert will give an overview of the major international sanctions programs (including those imposed by the United Nations, the United States, the European Union, and other international bodies).

  • Graham Bright, Head of Compliance and Operations, Euro Exim Bank Ltd

    3.35pm - 3.50pm | Real-world examples

    Navigating complex and evolving sanctions regimes is difficult for even the most experienced of trade financiers. In this session, our expert will provide an analysis of real-world examples illustrating the impact of sanctions on trade finance and the consequences of violations.

    3.50pm - 4.20pm | The legal and regulatory landscape

    Observing sanctions regulations is crucial for international business. Non-compliance can result in severe legal repercussions, including fines, penalties, loss of licenses, and reputational damage. However, adhering to varied and in-depth regulation can be a daunting challenge.

    In this session, our experts will share an overview of the legal and regulatory landscape, give an insight into the legal frameworks governing sanctions and discuss risk mitigation strategies including:

    • Risk assessment
    • Due diligence
    • Know Your Customer

    Moderator:

    • Samuel Chang, Associate, Clearly Gottlieb Steen & Hamilton LLP

    Speakers:

    • Miriam Goldby, Professor of Shipping, Insurance and Commercial Law, Queen Mary University of London

    4.20pm - 4.40pm | Coffee break

    4.40pm - 4.55pm | Trade document best practice

    Through case study analysis, this session will explore the key considerations for ensuring that trade documents comply with sanctions regulations. Our speaker will talk through real-life examples and highlight best practice.

    •  Tracy Kemsley, Trade Finance Product Manager, Barclays 

    4.55pm - 5.10pm | Impact on trade finance products

    Sanctions can significantly impact trade finance products due to the restrictions imposed on transactions, relationships, and financial activities involving sanctioned countries, entities, or individuals. The impact varies depending on the type of trade finance product and the specific sanctions imposed.

    In this session, our speaker will explore the impact that sanctions have on specific trade finance products including letters of credit, trade finance loans and trade credit insurance and risk mitigation products.

    • Gary Bishop, Chief Operating Officer, Bank Sepah

    5.10pm - 5.25pm | Technology and tools for sanctions compliance

    Implementing sanctions compliance measures within trade finance operations requires significant resources and expertise. Robust internal controls need to be established, sophisticated monitoring and screening tools need to be used, and staff need to be trained to ensure adherence to regulatory requirements.

    In this session, our speaker will examine how technology can enhance sanctions screening, compliance, real-time monitoring and detection of potential risks.

    5.25pm - 5.45pm | Q&A

    5.45pm - 5.50pm | Summary and closing remarks

    • David Meynell, Senior Technical Advisor, ICC Banking Commission Finance for Development

    5.50pm | Networking drinks

    -------------------------------

    Hosts



      Category: Event, Trade Finance




      Related Items