Financial institutions face an increasingly complex sanctions compliance environment. Sanctions are increasingly emerging at the forefront of compliance agendas given the proliferation of new restrictions and counter-measures, together with increasingly aggressive enforcement action extra-territorially. This is impacting both financial institutions and their clients, leading to expectations for more robust compliance programs for both. This has been acutely felt most recently in the Middle East following the USD 100 million sanctions fine against a Dubai based bank, as UAE branches of global banks continue to face on-going monitoring from foreign regulators following settlements for past sanctions violations involving the payment of significant penalties.

To help consider the implications of this recent sanctions fine for the Gulf market, together with risk mitigation strategies more broadly, Baker McKenzie is pleased to invite you to an interactive webinar focused on sanctions compliance in the Gulf. Our panel will include partners from our UK, US and Middle East sanctions teams, and will discuss the following themes from the perspective of both lenders and borrowers:

  1. Implications following recent fines for sanctions breaches imposed on UAE based banks
  2. Recent sanctions legislative developments, including the UAE’s targeted financial sanctions regime
  3. Specific sanctions risks and obligations for banks and other financial institutions
  4. Compliance risk implications for corporate borrowers and issuers

For more information about the webinar and to register, please visit: Sanctions Compliance Strategies for the Financial Services Sector in the Gulf | Insight | Baker McKenzie


Borys has been a partner of Baker McKenzie since 1995, and is the Managing Partner of our UAE offices. He is Head of the Investigations, Compliance & Ethics practice in the Middle East and is co-chair of the Investigations, Compliance & Ethics Steering Committee for the EMEA region. He regularly advises clients across various industries on a broad range of compliance-related matters, including sanctions, anti-bribery, and anti-money laundering policies and programs.


Terry Gilroy is a partner in the New York office of Baker McKenzie and a member of the Investigations Compliance and Ethics Practice Group. Prior to joining the Firm in 2018, Terry served as Americas Head of the Financial Crime Legal function at Barclays. Terry advises businesses and individuals on white collar and financial crime issues and has significant experience conducting investigations relating to compliance with the US Foreign Corrupt Practices Act (FCPA) and related bribery and corruption statutes, economic sanctions regulations as administered by the US Department of the Treasury's Office of Foreign Assets Control (OFAC), and the Bank Secrecy Act and related anti-money laundering (AML) regulations and statutes. Terry spent six years on active duty in the United States Army as a Field Artillery officer.


Sven Bates is Of Counsel for International Trade at Baker McKenzie. He has spent the majority of his career at the Firm's London office, focusing on international trade compliance, trade remedies and anti-bribery. He has also practiced in Amsterdam and has previously worked for the European Commission and the Shadow Attorney General. Sven has extensive experience in particular in the financial services sector, and has undertaken secondments at a Tier 1 UK bank and the Lloyd's insurance market.