Sanctions Regime In Australia

by AFIA

Since the start of Russia's invasion of Ukraine, governments in Australia, the US, UK, and Europe, among other countries, have progressively issued more extensive sanctions against Russia and Belarus. The scale and speed of these sanctions have been unprecedented as it relates to a major power. Along with other recent domestic and international developments in this area, sanctions risks are becoming increasingly applicable across larger sections of the international economy than they once were and now, more than ever, organisations are grappling with how to navigate and address complex and fast-changing sanctions exposure across their business and operations.

Above and beyond the immediate challenges, these sanctions raise a number of broader issues that financial services organisations need to start thinking about including governance, financial crime compliance, systems and reputational risks.

Tune into this webinar to hear Allens experts - Chris Kerrigan, Partner and Cindy McNair, Managing Associate, as they explore:

• the architecture of the Australian sanctions framework and recent changes
• features of key foreign sanctions regimes and differences with the Australian regime
• sanctions that have been imposed by Australia and other countries against Russia
• common legal, compliance and practical challenges that in-house teams are currently facing in this area.

Chris and Cindy regularly advise clients on sanctions risks exposure and compliance with sanctions laws. Both have extensive white-collar and financial crime experience having practised for many years in the UK and US, respectively, and have represented clients on some of their most critical regulatory exposures with AUSTRAC, ASIC, the Australian Federal Police, the UK Serious Fraud Office and Financial Conduct Authority, the US Department of Justice, Securities and Exchange Commission and Office of Foreign Assets Control.