[Ws2-jurisdiction] OFAC: Background Reading -- a few FAQs and Overviews

[Kavouss Arasteh]

Dear All,

As I mentioned before, in order to enable everybody, to equally understands
the presentation of Samantha ,she is kindly and respectfully requested to
provide a written version of what she is being prepared on OFAC FOR
TOMORROW 's meeting at 13,00 UTC.

This in no way supersedes or replaces the background document that I have
asked

Regards

Kavouss

On Mon, Jul 31, 2017 at 9:18 AM, Nigel Roberts <nigel at channelisles.net>
wrote:

> OFAC applies, it seems, to ALL countries, not a few
>
> See answer 10 at
> https://www.treasury.gov/resource-center/faqs/Sanctions/
> Pages/faq_general.aspx#licenses
>
>
> The real key as to whether ICANN and/or PTI is seriously affected by OFAC
> depends not so much on the countries to which OFAC applies (to which, for
> the reasons above the answer is "ALL"), but to the true construction of the
> expression "prohibited transaction".
>
> OFAC's own website gives a fairly general and broad definition: " trade or
> financial transactions and other dealings in which U.S. persons may not
> engage unless authorized by OFAC or expressly exempted by statute."
>
> But what matters is the detail of the statute and the regulations issued
> under it.
>
>
> Nonetheless, if ICANN, or PTI does not engage in prohibited transactions
> for which a license would be required, then the effect of the OFAC system
> is going to be negligible, or insignificant.
>
> (Unfortunately, risk aversion, an over-abundance of caution, and a
> 'box-ticking' approach might result in an inappropriately disproportionate
> approach to compliance "just to make sure").
>
> Which is a risk in itself.
>
>
>
> On 31/07/17 07:53, Arasteh wrote:
>
>> Greg
>> Tks for the info which are available on GOOGLE but nor quickly as you
>> gathered.
>> Appreciation for that
>> I request you to kindly collect the names of countries to which OFAC
>> applies by ICANN
>> Kavouss
>>
>> Sent from my iPhone
>>
>> On 31 Jul 2017, at 08:40, Greg Shatan <gregshatanipc at gmail.com
>> <mailto:gregshatanipc at gmail.com>> wrote:
>>
>> All,
>>>
>>> I thought it might be helpful to provide some background information
>>> on OFAC  in advance of Tuesday's meeting.  These are intended to
>>> provide overall information on OFAC, not analysis of the relationshipO
>>> between OFAC compliance and ICANN.  If there are other helpful general
>>> resources, please reply to this email.
>>>
>>> OFAC FAQ, General Questions:
>>> https://www.treasury.gov/resource-center/faqs/Sanctions/
>>> Pages/faq_general.aspx#basic
>>>
>>> A basic overview of OFAC compliance for US-based businesses (a little
>>> old (2011), but still helpful):
>>> https://www.law360.com/articles/262952/4-steps-toward-ofac-
>>> sanctions-compliance
>>> (Also attached as PDF in case the link can't be accessed)
>>>
>>> Good overview, though oriented toward banks and financial
>>> institutions, from FFIEC (Federal Financial Institutions Examination
>>> Council, a US inter-agency body empowered to prescribe uniform
>>> principles, standards, and report forms for the federal examination of
>>> financial institutions):
>>> https://www.ffiec.gov/bsa_aml_infobase/pages_manual/olm_037.htm
>>>
>>> Wikipedia
>>> https://en.wikipedia.org/wiki/Office_of_Foreign_Assets_Control
>>>
>>> IEEE and OFAC:
>>> https://www.ieee.org/about/corporate/compliance/legal/ofac/
>>> DF_IEEE_MIG_NAV_94987
>>>
>>>
>>>
>>>
>>> Greg
>>> <4 Steps Toward OFAC Sanctions Compliance.docx>
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>>
>>
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