Last week the US Congress passed legislation that strengthens existing sanctions against Iran and specifically targets the financial services industry. This legislation substantially changes the rules applicable to US and foreign financial services firms with respect to their dealings with Iran. Please join Carol J. Bilzi, Timothy J. Keeler, and Simeon M. Kriesberg, members of our Government and Global Trade practice, for our call on Thursday, July 1, to discuss what financial services executives and counsel need to know about the new sanctions legislation, including:
- What new sanctions does the legislation authorize? Which are mandatory and which are discretionary?
- Which provisions represent the most critical changes for the financial services industry?
- To what extent does the legislation reach foreign subsidiaries of US firms?
- To what extent does the legislation reach entirely foreign firms?
- Are there any safe harbors or waivers available?
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Mayer Brown's Global Financial Markets Initiative helps clients deal with the legal and business challenges resulting from the ongoing turbulence in worldwide financial markets. By mobilizing the firm's global resources from multiple practices and offices, the Initiative provides clients with knowledgeable and timely counsel on a broad spectrum of their legal needs.