CBFL Seminar Series: Sanctions & The Finance Industry – How Sanctions Fundamentally Changed The Rules Of The Game

Jonathan Goacher, Partner, Stephenson Harwood, delivered the seminar, “Sanctions & The Finance Industry – How Sanctions Fundamentally Changed The Rules Of The Game” on 7 November 2023 with the Centre for Banking & Finance Law. The lecture focuses on sanctions enforcement by the United States of America and its impact on financial institutions.

Recent cases such as Kuvera Resources Pte Ltd v JPMorgan Chase Bank, N.A. [2023] SGCA 28 were discussed, as well as the impact on sanctioned individuals. Jonathan noted that the finance industry has found itself at the forefront of sanctions enforcement, with organisations operating in the banking sector and headquartered outside the United States facing record-breaking sanctions penalties. Astonishingly, some of these entities had no presence whatsoever in the United States, emphasising the universal impact of sanctions and sanctions compliance.