This call was a special briefing for TCH member banks on recently-enacted Justice Against Sponsors of Terrorism Act (“JASTA”) and how it may affect your bank. As you probably know, JASTA is commonly understood to relate to the Foreign Sovereign Immunities Act (“FSIA”), Saudi Arabia, and the 9/11 attacks. But, in fact, JASTA is not so limited, and what many observers do not fully appreciate is that JASTA includes a new provision that, in certain circumstances, allows for secondary liability—both conspiracy and aiding and abetting—under the Anti-Terrorism Act (“ATA”), 18 U.S.C. § 2333. Alex Lakatos and Andy Pincus of Mayer Brown will discuss the contours of the new ATA aiding and abetting liability in some detail and also explain the litigation risks to large dollar clearing banks, including an increasing number of ATA lawsuits by plaintiffs’ firms.
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