OFAC Compliance Lawyers
U.S. sanctions regulations administered by the United States of Department of the Treasury's Office of Foreign Assets Control (OFAC) present a unique set of challenges to U.S. and foreign companies. To address potential sanctions issues, effective compliance measures can be developed, implemented, and tailored to a particular business line, industry sector, or market. For over a decade, Ferrari & Associates, P.C. has advised companies on the scope and applicability of U.S. sanctions to ensure that they avoid violations of those sanctions or mitigate risk arising under them. Our experience has given us a strong appreciation for the difficulties companies face in navigating U.S. sanctions laws and assessing risk arising from those laws. That appreciation informs our advice allowing it to both reflect applicable law while also remaining practical in terms of application.
Here are some of the OFAC compliance matters we have recently handled:
- Advised a multinational medical device manufacturer on the potential exposure to U.S. sanctions arising from the use of U.S.-based information technology platforms to service customers in embargoed jurisdictions.
- Advised a global financial institution on the impact of the Venezuelan sanctions program on their financing of a joint venture project in which a private Venezuelan entity, with a blocked person (SDN) minority shareholder, maintained an interest
- Advised a U.S. law firm on their ability to provide legal services to a blocked person (SDN) in connection with potential defamation claims against a U.S. publisher
- Advised a foreign investment management firm on whether certain parties are constructively blocked under OFAC's 50 Percent Rule
- Advised a multinational manufacturer on their exposure to various U.S. sanctions programs, including the Iran and Venezuela sanctions programs
If you are in need of assistance with U.S. sanctions compliance or have questions about U.S. sanctions laws, do not hesitate to contact us.