WorldECR Virtual Forum hits the ground running
Once again, the continuing (possibly ebbing?) Covid-19 pandemic has precluded us from holding a face-to-face conference – and we meet again by video-link. However, there has been nothing ‘virtual’ about the quality of content and debate in the first week of this year’s event.
On 14 February, we kicked off with an engaging discussion on sanctions and export control enforcement. Barbara Linney, Steven Brotherton and Jim Huish – trade compliance experts from BakerHostetler, KPMG and FTI Consulting, respectively – outlined areas of confusion sometimes encountered by clients in navigating enforcement actions and compliance obligations (amongst them, the reach of ‘extra-territorial jurisdiction’, scope of secondary sanctions, and risks associated with providing humanitarian aid in, e.g., Afghanistan and high sanctions-risk countries).
We were joined by Michael Lieberman of OFAC, who, while speaking on his own account, set out how the key regulatory agencies view their priorities and expectations of industry.
Building on some of those themes, on 15 February, IBM’s Kevin Cuddy and Sanjay Notani of Economic Laws Practice explored how, as legislation strives to address new technologies and national security concerns, business must parse increasingly stringent rules. Amongst areas of uncertainty are a lack of clarity as to why certain goods and technologies are being controlled, a new emphasis on ‘plurilateral’ controls, and nebulous definitions of ‘national security’. Also, as ESG considerations become folded into the trade compliance remit, new questions are raised around roles and responsibility.
Seasoned international trade compliance expert Nancy Draper Schaeffer followed up with a presentation looking at the challenges faced across the profession by the imposition of work-from-home rules during the pandemic, and the need for companies to ensure that their employees are equipped with the tools they need to stay compliant. Screening practices, data retention and record keeping, IT security are all amongst the many facets that are potentially affected – but also important is how to maintain cohesion within teams and reduce potential for loneliness? (Good communication is key). This was a presentation full of critical insights that will have resonated with everybody.
16 February saw two EAR-focused presentations. Former BIS Special Agent Donald Pearce (now of Sentinel LLC and a senior adviser with Torres Trade Advisory) challenged delegates to ask themselves whether when it comes to knowing when to apply for US export control licences, and which licences to apply for, they’re stuck on ‘autopilot’, repeating application practices that may well be out of date, insufficient for compliance, or even unnecessary. Full of suggestions for best practice, and compliance know-how, this presentation will be certain to have compliance officers revisiting their status-quo operations.
Don was followed by an incisive dissection of the EAR Entity List by Steptoe’s Alexandra Baj and Meredith Rathbone. It was remarked upon that, once an obscure facet of trade controls, the Entity List has become a mainstream tool in the armoury of foreign policy instruments, with its use now hitting front page news, especially where applied to big corporate players.
Alexandra and Meredith used a Huawei case study to illustrate the theme and dispelled some of main misconceptions around the Entity List (e.g., that it is never permissible for US companies to do business with listed entities).
The conference continues through to 24 February.
IT IS NOT TOO LATE TO REGISTER FOR THE FORUM!
DELEGATES WILL HAVE FULL ACCESS TO RECORDINGS OF ALL SESSIONS.
See the full programme at: https://www.worldecr.com/worldecr-virtual-forum/
