Debevoise & Plimpton LLP assisted the Securities Industry and Financial Markets Association (“SIFMA”) in preparing its recent white paper, U.S. Capital Markets Sanctions: A Proposed Framework to Standardize Requirements and Mitigate U.S. Investor Harm. The white paper, prepared with members of SIFMA’s Anti-Money Laundering and Financial Crimes Committee and Sanctions Working Group, outlines recommendations to modernize and standardize U.S. sanctions affecting capital markets activities. The paper’s suggested reforms would mitigate negative impacts to U.S. investors, provide clarity on sanctions compliance obligations and enhance the effectiveness of U.S. sanctions policy.

SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in U.S. and global capital markets. The Debevoise team was led by Debevoise counsel Aseel Rabie and associate Jonathan Wong, with assistance from associates Tealanie Baldwin and Ally Farley.

For more information, see SIFMA’s press release here. The full white paper is available here.

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Debevoise’s market-leading International Sanctions Compliance & Enforcement practice provides expert advice and practical guidance to a wide range of institutions—including U.S. and non-U.S. banks, securities broker-dealers, asset managers, market intermediaries, digital asset firms, fintech companies and others—as well as leading industry trade associations, such as SIFMA.

We regularly represent clients before the U.S. Department of the Treasury’s Office of Foreign Assets Control and federal law enforcement and regulatory authorities on sanctions matters. With sanctions experts in the United States, European Union, United Kingdom and our offices across the globe, we provide our clients with comprehensive advice on cross-border U.S., UK, EU and other sanctions issues. Our attorneys draw on extensive experience from the private sector and in government to provide practical guidance. We work with clients on transactional and compliance matters and in all types of adversarial proceedings, ranging from contentious regulatory examinations to administrative enforcement actions to civil and criminal litigation. More information about Debevoise’s practice is available here.

This publication is for general information purposes only. It is not intended to provide, nor is it to be used as, a substitute for legal advice. In some jurisdictions it may be considered attorney advertising.