AFC Under the Microscope: COVID-19

  • When: April 17, 2020
  • Time: 10AM-11:15AM ET, 3PM-4:15PM BST
  • Level: All

This webinar qualifies for 1 CAMS credit

As described by the United Nations, the world faces a global health crisis unlike any in its 75-year history— one that is spreading human suffering, crippling the global economy and upending people’s lives. The COVID-19 outbreak was declared a Public Health Emergency of International Concern on 30 January 2020. This has resulted in unprecedented demand for medicines, vaccines, diagnostics plus wider humanitarian and medical support, all related to COVID-19.

Virtually no country is left untouched. Response strategies are particularly acute in fragile, conflict-ridden jurisdictions, subject to sanctions in which socioeconomic exclusion, poor infrastructure, large numbers of displaced persons living in over-crowded camps can add a further level of complexity.

Building the necessary conditions for ensuring an effective pandemic response to COVID-19 for sanctioned jurisdictions will undoubtedly require a more defined position on certain implementation matters. Striking the correct balance between the delivery of critical COVID-19 humanitarian responses, whilst also ensuring necessary safeguards are in place to protect against un-wanted diversion of medical equipment, fraud and remaining compliance risks, including the application of unilateral sanctions will necessitate some realignment.

More than ever, working together to protect the most vulnerable will be key in addressing the needs arising from the pandemic. Compliance, legal and regulatory frameworks will undoubtably have an important role to play in supporting international effort.

Do join us for an expert panel discussion on:

  • An overview of the global pandemic response and intersection with the compliance and sanctions community.
  • The scope of new trade rules related to the movement of protective and medical equipment, how they apply and what are the exceptions.
  • Managing heightened compliance risks arising from increased humanitarian shipments globally, including to sanctioned countries.
  • Projected changes in trading patterns, supply chains, vendor arrangements, fluctuating customer profiles and implications of closed borders.
  • Effective utilization of exceptions, derogations and licenses to support the global pandemic response.
  • Mechanisms to build dialogue to rapidly overcome legal and regulatory uncertainties in the movement of humanitarian aid and medical shipments.

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Moderator

Justine Walker
  • Justine Walker

  • Head of Global Sanctions and Risk
  • ACAMS

Bio

Until December 2019 Justine was the Director of Sanctions Policy at UK Finance. The former chair of the European Banking Federation Sanctions Expert Group, a position she held from 2015 until December 2019, Justine has held specialist policy positions in the United Kingdom at the Financial Services Authority and the Treasury’s Counter Terrorist and Proliferation Financing Branch. She has further acted as an International Monetary Fund advisor on the Nigerian anti-money laundering and counter-terrorist financing capacity building program. Formerly based in Central Asia with the United Nations, she has also worked on programs surrounding weapons and drug trafficking, corruption and terrorist financing, and has served as a national expert on the financing of weapons of mass destruction matters.

Justine has extensive experience of working with foreign governments, international bodies and financial institutions on cross border sanctions matters. This includes acting as an independent expert to the UN and other bodies on the promotion of payment channels in support of permissible international humanitarian activity within sanctioned and fragile jurisdictions, particularly Syria. On behalf of the Alliance for Financial Inclusion and under the auspices of the German G20 Presidency, she prepared the special report on access to finance for forcibly displaced persons.

Within ACAMS Justine is tasked with leading critical industry and public-sector relationships, including engagement with key international bodies and think tanks. She holds a Ph.D. from the University of St. Andrews and an M.Sc. from the University of Edinburgh.

Speakers

Alexandra Belmonte
  • Alexandra Belmonte

  • Head of Foreign Trade Controls
  • A.P. Møller – Mærsk A/S

Bio

Alexandra is the head of Foreign Trade Controls at A.P. Møller – Mærsk A/S, also known as Maersk, and part of the Maersk Compliance Leadership Team. She is responsible for the sanctions and export control compliance programme at Maersk. Maersk is an integrated container logistics company working to connect and simply its customers’ supply chains. As the global leader in shipping services, Maersk operates in 130 countries and employs roughly 70,000 people.

Prior to this position, Alexandra was a senior legal counsel for Maersk Line A/S, the largest container ship operator in the world, implementing its compliance programmes in anti-corruption and foreign trade controls. She supported the business and implemented the compliance controls enabling Maersk to re-enter the Iranian market in 2016 in light of the Joint Comprehensive Plan of Action (JCPOA). She rolled out Maersk Line’s zero facilitation payment policy for the company’s owned fleet in its fight against corruption.


Melissa Duffy
  • Melissa Duffy

  • Partner
  • Dechert

Bio

Melissa Duffy focuses her practice on international trade matters, specifically matters relating to export controls, trade sanctions, digital trade controls, CFIUS and other national security issues for clients involving a variety of agencies, both civil and criminal. Ms. Duffy advises multinational companies across a wide range of industries, including technology, financial, manufacturing, consumer goods, and energy. She utilizes her considerable experience in the international trade field to counsel clients on day-to-day compliance operations, as well as to provide various forms of advocacy before U.S. trade regulators, such as preparing requests for regulatory guidance, submission of export and sanctions license requests, advising on rulemakings, preparing commodity classification and jurisdiction requests, and investigating and preparing complex voluntary disclosures. Ms. Duffy has extensive knowledge on Cuban, Iranian, and Russian sanctions, as well as matters involving the Middle East.

Ms. Duffy is highly regarded in her area of practice, presenting and publishing regularly on international trade and technology regulations. She has also been consistently been recognized by The Legal 500 and appointed to Law360’s International Trade Editorial Advisory Board. She has given presentations at numerous conferences and webinars held by the International Bar Association, the American Conference Institute and Bloomberg. Ms. Duffy has provided commentary for Law360 and authored articles for Buttersworth Journal of International Banking and Financial Law, The Export Practitioner and International Government Contractor. In recognition of her significant work on pro bono matters, Ms. Duffy has made the Capital Pro Bono Honor Roll numerous times, an initiative sponsored by the District of Columbia Court of Appeals and the Superior Court of the District of Columbia.


Alina Nedea
  • Alina Nedea

  • Deputy Head of Sanctions Unit, Directorate General for Financial Stability
  • Financial Services and Capital Markets Union (DG FISMA), European Commission

Bio

Having specialised in EU law, Alina currently deals with a wide range of EU sanctions issues, from their shaping, negotiation and adoption, to their practical implementation and potential lifting, as well as and their relationship with UN sanctions.

Alina coordinates work on several geographical EU sanctions regimes, as well as thematic ones such as terrorism and chemical weapons. She also monitors horizontal projects like the humanitarian impact of sanctions and the impact of extra-territorial sanctions adopted by third countries on EU operators.

In her previous life, Alina was a lawyer in a leading Spanish law firm, advising and representing clients in competition law disputes and administrative proceedings before national and EU authorities, and teaching EU law in Spain and Germany. She is still a member of the Barcelona Bar Association and continues to cooperate with academia in Belgium.


John E. Smith
  • John E. Smith

  • Partner
  • Morrison and Foerster

Bio

John E. Smith served as the Director of OFAC, as well as its Deputy Director and Associate Director, for 11 years before joining MoFo in July 2018. Concurrent with serving as OFAC Director, Mr. Smith also served as acting Under Secretary for the Office of Terrorism and Financial Intelligence at Treasury (January 2017 to June 2017). Mr. Smith has overseen the U.S. government’s economic sanctions efforts, imposing sanctions on heads of state, countries, and illicit actors; conducting enforcement actions against dozens of major financial institutions and companies around the world; and developing innovative sanctions enforcement policies to address evolving U.S. national security priorities. Mr. Smith has also supervised the investigation, preparation, and settlement of cases for hundreds of millions of dollars. Mr. Smith is co-head of Morrison & Foerster’s National Security practice and was named by Global Investigations Review (GIR) in November 2019 as one of the most respected Washington, D.C.