HFW on Sanctions & White Collar Investigations

Agenda

17h30 Registration

18h00 Presentation with Q&A

19h15 Networking apero

Part 1 – Sanctions & Regulatory update

1. 14^th round of EU sanctions: prohibitions of investments in, and exports to, LNG projects under construction in Russia. Transition period for use of EU ports for transshipment of Russian LNG.
2. New, more stringent restrictions on dual-use goods – an evolving list of prohibited materials including industrial goods and advanced technology.  What are the consequences of not complying?
3. New rules for EU banks outside Russia for the financing messaging system SPFS and consequences of a breach.
4. New targeting of tankers that are part of the Dark Fleet circumventing the EU and Price Cap Coalition’s caps – EU/Swiss, UK and US: an increased focus on sanctioning vessels for their participation in the Dark Fleet and how to monitor these listings.
5. The new EU and Swiss restrictions on providing services provided to Russian subsidiaries by EU/Swiss parent companies.
6. Broadening of anti-circumvention clauses, given increased due diligence to ensure CHP (Common High Priority) goods are not reaching Russia, a “no Russia” clause regarding IP transfers, and increased diligence obligations with respect to foreign subsidiaries.
7. UK, Swiss and EU regulator’s activity – an update with a focus on OFSI, OFAC & SECO.
8. UK Caselaw – a case update on Celestial Aviation v Unicredit; the impact on financing, insurance and movement of goods for banks.
9. The latest on metals; new rules and a wind-down period until end 2024
10. Manganese Ore, plastics, chemicals, diamonds and gold – what do all these things have in common….
11. What’s next in store on the regulatory front?  The new EU CSDDD; what can we expect in Switzerland?

Part 2 – White collar, investigations & compliance

Commodity traders in the news. There have been a number of large commodity traders in the news in recent months in connection with enforcement action by various regulators including in Switzerland, the UK and the US. We’ll do a round up but, more importantly, look at lessons learned and steps traders should take to prevent similar problems by way of a case study.

About Barry

Barry Vitou leads HFW’s Global Investigations and White Collar practice. Barry is one of the best known and respected lawyers in this field in London, his practice focuses on the representation of corporations and individuals in white collar criminal investigations and other internal investigations into suspected misconduct all over the world. Barry also advises clients on remediation of problems and compliance. His work is often cross border and Barry’s matters frequently involve non-UK law enforcement agencies.

Barry is experienced in successfully dealing with adverse media interest and defamation matters which are often linked to his Investigations and White Collar practice.

Barry represents and has successfully represented clients in many of the largest white-collar matters and has a formidable track record in obtaining the closure and resolution of criminal investigations without charge. Barry also represents and has represented clients in other workplace investigations.

He is one of just eight experts in The Legal 500’s ‘Hall of Fame’ for regulatory investigations and corporate crime and is regularly requested to comment in the media.

The Legal 500 2021 testimonials include ‘Barry Vitou is a pleasure to work with. He is sharp as a tack and very good strategic thinker. He is also a great person and has wonderful manner with clients’. ‘I would single out Barry Vitou. Barry is a big name in corporate crime litigation who has a flair for representing big corporates and their executives in major cases of the day. He fights for the win, is sophisticated, and you want him on your side in challenging cross border cases’.

Barry is recommended and recognised as a ‘global leader’ by Who’s Who Legal for investigations, business crime defence – corporates, and business crime defence – individuals.

Barry’s Investigations and White Collar work is often high profile and the subject of media interest. He has successfully represented clients the subject of intrusive adverse media interest pre-publication so that if a story is written it is not defamatory. If a defamatory article has been published Barry has a successful track record of the removal of the defamatory article by the relevant publisher and helping clients in repairing any collateral damage done. Barry has also successfully defended defamation proceedings.

Barry is qualified in England and Wales.

About Sarah

Sarah acts for a range of trading companies, charterers and owners in shipping and international trade disputes. Her work involves petroleum products, crude, gasoil, cement, coal, bitumen, steel and ferrous as well as non-ferrous metals, ethanol and soft commodities including grains, soyabeans, oils and seeds, sugar, coffee and cocoa. Her most high-profile matter was Taurus v SOMO, in which the Supreme Court overturned the Power Curber decision and held that there is no special rule of jurisdiction relating to debts represented by LCs. She has successfully litigated or settled in favour of or to client satisfaction, all Commercial Court claims. Her litigation profile includes freezing orders arising out of various frauds, hedging losses, defaults on sale contracts (failure to perform), off-specification cargo quantum disputes and non-delivery disputes. Impressively, she has also recovered judgment sums awarded against recalcitrant defendants including a significant proportion of costs.  Her arbitration record is similarly impressive.

She regularly deals with shipping and trading issues ranging from technical demurrage arguments, to disputes under guarantees or other financial instruments, to advice on when it is possible to terminate under a term contract without repudiatory breach, to urgent injunctive relief and complex multi-jurisdictional queries requiring creative solutions for enforcement.

As regards sanctions, Sarah heads a team of lawyers in Geneva which has advised HFW’s industry clients on shipping, trading, insurance and complex trade finance matters involving multi-jurisdictional sanctions against Russia for its invasion of the Ukraine, spearheading HFW’s pro-active Geneva sanctions team in providing pragmatic, commercial advice with fast turn-around.

She teaches sale contracts at the Universities of Geneva and Fribourg on their master’s degrees in international trade, where HFW’s use of case studies is famous for its practical teaching approach for tomorrow’s industry leaders.

Sarah is regularly recognized by Legal 500 EMEA, with clients praising her and the team’s “fast response”, “very deep and sound expertise in commodities and shipping” and ability to “transmit complex matters in a comprehensive language which can be understood also by someone who is not a legal expert.”

Sarah is listed in Tier 1 for Legal 500 Transport, Switzerland: “HFW’s ’professional and client oriented’ team collaborates with its international network to advise client such as shipowners, charterers, P&I Clubs, banks, governments, and brokers on commercial, regulatory and litigation matters. The team has extensive knowledge of the dry shipping, admiralty and crisis management markets as well as transactional work. Sarah Hunt has extensive experience advising trading companies, charterers and owners on complex shipping and international trade disputes. Hunt also heads a team of lawyers which has advised HFW’s industry clients on shipping, trading, insurance and complex trade finance matters involving multi-jurisdictional sanctions arising out of the Russo-Ukrainian war.”

Sarah is listed in Tier 1 for Legal 500 Transport, Switzerland: “HFW’s ’professional and client oriented’ team collaborates with its international network to advise client such as shipowners, charterers, P&I Clubs, banks, governments, and brokers on commercial, regulatory and litigation matters. The team has extensive knowledge of the dry shipping, admiralty and crisis management markets as well as transactional work. Sarah Hunt has extensive experience advising trading companies, charterers and owners on complex shipping and international trade disputes. Hunt also heads a team of lawyers which has advised HFW’s industry clients on shipping, trading, insurance and complex trade finance matters involving multi-jurisdictional sanctions arising out of the Russo-Ukrainian war.”