Speaker(s)

Description

Businesses nowadays are facing rapidly proliferating and sometimes conflicting sanctions measures imposed by different authorities around the world. We have seen a myriad of Russia-related sanctions since the war in Ukraine as well as the implementation of the Uyghur Forced Labor Prevention Act. Non-compliance could bring legal, financial, commercial and reputational consequences to a business.

A robust sanctions compliance programme involves more than just checking against lists of restricted parties, businesses should develop policies, procedures and internal controls corresponding to the sanctions risks they are exposed to. All of these must base upon certain levels of understanding of sanctions and sanctions compliance.

In this seminar, an expert in political and sanctions risk will give an overview on the basics of sanctions, examine the core elements in a sanctions compliance programme, and share practical experience with case study. Below is a summary of contents covered:

1. Basics of Sanctions

• What are sanctions?
• Common objectives of sanctions
• Who impose sanctions?
• What sanctions are implemented in Hong Kong?
• Common sanctions measures
• Who needs to comply with what sanctions?
• The emerging Chinese sanctions regime
• Consequences of non-compliance

2. Sanctions Compliance Programme

• Management Commitment
• Risk Assessment
• Keeping Up on Sanctions
• Policies, Procedures and Internal Controls
• Testing and Auditing
• Staff Training

3. Case study – SenseTime

Level: Intermediate

Speaker's bio:
Mr Richard Ip

Seat guarantee will only be given to HKCGI Fellows and/or Practitioner’s Endorsement (PE) holders if registered 10 clear working days with payment prior to the date of the seminar.