Companies carrying on cross border commercial activities need to be aware of both the scope and the consequences of the sanction regime recently imposed by the United States of America (the “US”).

The regime applies regardless of geographical boundaries.  A lack of awareness as to whether commercial activities undertaken are subject to such a regime may lead to violations and as a consequence, the imposition of penalties on those operating in breach of the rules.  The US sanctions regime imposes corporate and personal liability, resulting in the potential application of penalties on the company, its shareholders and directors.

Given the seriousness of the consequences arising as a result of any breach, compliance management is of critical importance. Raising awareness through an understanding of the scope and application of the regime is the first step towards identifying possible risk factors within your business. For this purpose, BASEAK hosted an exclusive session entitled “US Sanctions and Turkey: Compliance Management and Preventive Measures in Light of Recent Developments” on October 22th.

During the event, Dentons’ Partners and global experts on the US sanctions regime, Peter Feldman and Maxwell Carr-Howard discussed how to manage operations in compliance with the current sanctions regime.

About Balcıoğlu Selçuk Ardıyok Keki

Balcıoğlu Selçuk Ardıyok Keki Attorney Partnership is an Istanbul-based full service law firm with a team of 130+ lawyers and economists. Our practice focuses on a wide range of areas including real estate, corporate, mergers and acquisitions, banking, project finance, capital markets, competition and anti-trust, employment, litigation and arbitration, telecommunication, regulatory and public law and intellectual property. We represent and advise Turkish and multinational clients, including Fortune 500 companies, in the banking and finance, private equity, real estate, manufacturing, hospitality and leisure, retail, automotive, energy, information technology, life sciences, luxury fashion and beauty, and media sectors.