Department of the Treasury – Office of Foreign Assets Control (OFAC)

The US Department of Treasury’s Office of Foreign Assets Control (OFAC) administers and enforces trade and economic sanctions against certain countries and territories as well as designated individuals and entities. Latham’s global sanctions practice — which includes lawyers based in London and throughout Europe, in addition to the US — is well positioned to help clients around the world comply with US and EU sanctions laws. For instance, Latham assists clients in investigating, remedying, and disclosing potential violations. 

Latham lawyers have advised clients on sanctions issues in the following sectors: aerospace and defense, energy, financial services, emerging technologies, life sciences, telecommunications, and not-for-profit, among others. The firm’s key focus areas include: 

• Leading large-scale internal investigations of possible instances of non-compliance with US sanctions, including in response to government requests for information, subpoenas, and indictments
• Assisting clients with voluntary self-disclosures to OFAC, including designing and implementing corrective actions, as well as negotiating resolutions with OFAC, the Department of Justice, and other agencies  
• Providing day-to-day US sanctions compliance advice; securing OFAC licensing; developing, implementing, and/or enhancing sanctions-related compliance policies and procedures and safeguards; and developing and delivering US sanctions training at all levels of an organization 
• Leading and advising on sanctions due diligence in the context of mergers and acquisitions, joint ventures, or other business activities. The firm’s efforts include advising lenders and borrowers, as well as issuers and underwriters, on sanctions compliance in the financing context.

Latham lawyers draw on their deep subject knowledge and experience advising on compliance with sanctions laws to effectively partner with clients in this complex, sensitive, and aggressively enforced area of law.