Determining Ownership and Control - Russian Oligarchs and Prominent State-Connected Figures
In response to the Ukraine crisis Western leaders have pursued an international campaign of pressure against Russian architects of war, elites, proxies and oligarchs close to President Putin. Thousands of sanctions have been imposed resulting in an unprecedented effort by the private sector to identify and freeze the assets of newly designated entities and individuals, who in most cases hold significant economic global connections and business interests. “Financial institutions are urgently dedicating considerable resources to assess the scale of the effort needed to determine the networks of ownership, control and influence of Russian oligarchs and prominent state-connected figures.” This rapid response webinar will take an in-depth look at the challenges being faced by the international compliance community, what constitutes ‘ownership and control’ across different key jurisdictions and the ambiguities that lead to misinterpretation.
Evaluating the critical ownership and control compliance questions in respect to recent Russian sanctions designations.
Understanding key jurisdictions’ interpretations of both ‘ownership’ and ‘control’, how they differ and what this means for industry.
Learning good practices in the approach to accurately determine ownership and control within effective compliance frameworks.
Financial Compliance Controls (FCC)
Ultimate Beneficial Ownership (UBO)
AML Compliance Skills and KYC/CDD
Sanctions and Non-Proliferation