Due to latest changes in the world politics and the response by U.S. and E.U. authorities to such changes, sanctions are playing an increasingly important role and their impact on European companies and their decision making is growing. A violation of the sanctions may indeed result in huge fines for the violator and European companies - not only banks, but manufacturers, exporters and service providers - therefore need to take compliance measures to ensure that the sanctions are properly complied with in their businesses.
Many U.S. lawyers will insist that all companies require full-scale, U.S.-style compliance programs. Many European companies do not believe compliance changes are worth the expense. We believe there is a middle ground, a way for a European company to protect itself without over-spending its resources.
Bird & Bird and Sheppard Mullin are uniquely positioned to support compliance efforts:
- Bird & Bird has regulatory and practical compliance experience throughout Europe
- Sheppard Mullin has deep expertise on U.S. sanctions regulations, regulators, and enforcement agencies
- In the worst case, if there is an investigation, we are capable of scoping an investigation in ways that maximize efficiency by targeting resources to the highest risks
- Our understanding of the investigators' culture helps us negotiate lower penalties.
- Bird & Bird has expertise on the Iranian regime and culture
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