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US sanctions enforcement focus on mergers and acquisitions
Journal of Financial Compliance,
4
(3),
257-266
(2021)
Abstract
Sanctions compliance is an increasing challenge facing multinational companies subject to US sanctions laws as companies are trying to achieve well-defined compliance programmes in a rapidly evolving regulatory environment. Further adding to these challenges is the difficulty of conducting due diligence for mergers and acquisitions (M&A) in a pandemic, coupled with the time pressure of performing due diligence on sanctions risks before the deal is done and integrating sanctions compliance processes after the deal has closed. As shown in recent enforcement cases, more and more companies are making disclosures to US authorities of sanctions violations arising out of their M&A activity, and penalties reach millions of dollars. In this paper, the authors explore the types of sanctions compliance violations that arise as a result of M&A transactions and recommend best practices that companies should follow to avoid these complications.
Keywords: sanctions compliance; multinational companies; US sanctions laws; compliance programmes; regulatory environment; due diligence; mergers and acquisitions
The full article is available to subscribers to the journal.
Author's Biography
F. Amanda Debusk is chair of Dechert LLP’s global International Trade and Government Regulation practice, where she focuses on matters relating to US international trade regulations, export controls, sanctions and trade compliance. Amanda is an authority on the enforcement of export and trade compliance, drawing on her experience as the former US Commerce Department assistant secretary for Export Enforcement to represent clients across a broad spectrum of matters relating to civil and criminal enforcement, voluntary disclosures, regulatory compliance and customs.
Jean Chang is an Associate at Dechert LLP, where she focuses her practice on matters relating to international trade and regulatory and government investigations. She advises clients on compliance with US export control and economic sanctions regimes, in addition to conducting internal investigations, preparing disclosures regarding violations and responding to government enforcement actions.
