Category: General

round metal cylindrical containers at factory

8 Nov, 2023

A pesar del alivio en materia de sanciones comerciales por parte del gobierno de EE.UU al sector del petróleo y gas en Venezuela todavía hay retos por superar

Matt Stankiewicz, socio en The Volkov Law Group PC, se une otra vez a nuestro blog para discutir el context del Alivio de las sanciones en Venezuela por parte del gobierno de EEUU. Matt lo pueden contactar en [email protected]. Este blog fue traducido por: Daniela Melendez, la pueden contactar en [email protected]. Como lo mencionamos en nuestro artículo la semana pasada, la Oficina de Control de...

General

8 Nov, 2023

OFAC Settlement with DaVinci Payments Is Wake-Up Call for Prepaid Access Industry

Rewards programs have become ubiquitous in recent years. These so-called loyalty management programs exist to nudge customers or employees in a particular direction; a company’s workers might be inclined to exercise more regularly, for example, if they know there is a $5 gift card waiting for them after a specified number of gym check-ins. Their rapid expansion and cash-equivalent, pre-paid nature make loyalty management programs...

General

7 Nov, 2023

Despite OFAC Sanctions Relief, the Venezuelan Oil and Gas Industry Still Presents Risks

Matt Stankiewicz, Partner at The Volkov Law Group PC, provides important context regarding OFAC’s new General Licenses under the Venezuela Sanctions Program. Matt can be reached at [email protected]. As we discussed previously, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) recently provided Venezuela with much needed sanctions relief. Specifically, OFAC issued General License 44 (among others) that broadly authorizes transactions related to...

General

6 Nov, 2023

Biden Administration Issues Sweeping Executive Order on Artificial Intelligence

The Biden Administration issued a sweeping Executive Order directing a broad set of government actions addressing consumer harms, discrimination, privacy protections and other issues stemming from the widespread use of artificial intelligence. While the Executive Order sets forth a set of requirements to various federal agencies, the actions will establish important standards and expectations applicable to the federal government and have a resulting impact on...

General

3 Nov, 2023

UK Parliament Enacts Sweeping New Fraud Legislation Aimed at AML/TF Activities

Alexander J. Cotoia currently serves as the Regulatory Compliance Manager at The Volkov Law Group, where he regularly advises the firm and its clients on international developments implicating compliance concerns. He is a regular speaker at compliance events and webinars, and provides training to AML officials in a variety of areas. He may be reached at [email protected]. On October 26, 2023, the Parliament of the...

General

1 Nov, 2023

The Volkov Law Group and Diligent Unveil New AI Certification for Board Members

The Volkov Law Group is pleased to have participated in both the curriculum development phase and the content creation phase with our dear friends at Diligent, addressing the timely issue of artificial intelligence (“AI”) in the corporate arena with a focus on reinforcing basic ethics and compliance principles. Through a series of courses—aptly titled “AI Ethics and Oversight Board Certification”—participants will receive feedback from a...

General

1 Nov, 2023

Quarterly Trade Compliance Update – October 2023

Each quarter, we send many of our clients a quarterly trade compliance update, highlighting important developments over the last few months and summarizing key points for important sanctions programs. Click here to download the quarterly update for October. Below is a summary of events this past quarter: About the document: This handy one-pager is designed to be used by our clients to provide a quick...

General

31 Oct, 2023

Profiles in Effective CEO Leadership

One of the many great experiences I have been fortunate to have in my career is to meet some impressive leaders – at the Department of Justice, on Capitol Hill, and in corporations. To focus on the latter, I have met some amazing CEOs, Chief Compliance Officers, and other senior executives. To be candid, I have also met some not-so-great CEOs and senior executives. To...

General

31 Oct, 2023

La Oficina de Control de Activos Extranjeros (OFAC) otorgó alivios a las sanciones comerciales en Venezuela y autorizó ciertas transacciones en la industria de petroleo y gas.

Matt Stankiewicz, socio en The Volkov Law Group PC, se une nuevamente en nuestro blog con una tema de suma importancia, alivios del gobierno de Estados Unidos respecto del programa de sanciones comerciales de Venezuela por parte de la OFAC. Para mayor información: [email protected] El 18 de octubre de 2023, la Oficina de Control de Activos Extranjeros (“OFAC”) del Departamento del Tesoro de los Estados...

General

27 Oct, 2023

Simplicity – the Key to Compliance Persuasion

Truth is ever to be found in simplicity, and not in the multiplicity and confusion of things. – Isaac Newton We all know the adage – Keep it Simple Stupid (“KISS”). The principle applies to all organizations and underscores an important communications requirement. The governance landscape has become more complex over the last decade with competing priorities and demands on leadership and organizations. Many...