9th Annual Canadian Forum on
GLOBAL ECONOMIC SANCTIONS
February 26–27, 2025
One King West Hotel & Residence, Toronto, ON
Designed to cover Canadian, U.S., UK, and EU sanctions, this one-of-a kind event provides rich networking and benchmarking opportunities. Ensure that you stay ahead of the curve in this complex landscape while gaining insights from Canadian, U.S. and more international experts —including government officials, financial institutions, and exporters from diverse industries.
Canada’s Only Dedicated Event on Multi-Jurisdictional Sanctions Compliance & Enforcement
Gain invaluable best practices for navigating critical new issues, including:
ĉ Canada’s New Sanctions Evasion Reporting Regime: Satisfying Bill C-59 and New Reporting Requirements Under the PCMLTFA
ĉ The Most Complex Multi-Jurisdictional Sanctions and Reporting Challenges: Concrete Examples of How to Work Through the Most Vexing Dilemmas
ĉ Positioning Your Program in Anticipation of Expanded China Sanctions and Export Controls: Navigating New Compliance Lessons and Pain Points
ĉ Addressing Delisting Challenges in Today’s Evolving Sanctions Landscape
Early rates will expire soon. Join the community to compare notes and prepare for what’s ahead!
Gain the Newest Compliance Best Practices from:
• BMO
• Cybrid
• Generali
• Manulife
• Paramount Commerce
• PNC Bank
• RBC
• Scotiabank
• Stripe
• TD
• TREMCO
• UPS
2025 Speakers
CONFERENCE CO-CHAIRS
Heidi Kinkartz
Global Sanctions & Screening, Global Compliance & AML Scotiabank
Sabrina Bandali Partner
Bennett Jones LLP
David Lim Partner
White & Case LLP
Former Co-Director, KleptoCapture U.S. Department of Justice
ESTEEMED GOVERNMENT
SPEAKERS INCLUDE:
KEYNOTE:
Matthew Shannon
Senior Economist Department of Finance Canada
Alesia Nahirny
Legal Counsel Department of Justice Canada
Chief Superintendent
Richard Burchill
Director General, Financial Crimes RCMP
Valerie Dahan
Detective Constable, Financial Crimes Unit, Asset Forfeiture Unit Toronto Police Service
Rob Vingerhoets
Detective Constable, Proceeds of Crime Section, Financial Crimes Unit York Regional Police
INDUSTRY SPEAKERS AND THOUGHT LEADERS
Stephen Alsace VP and Global Head of Economic Sanctions Anti-Bribery and Anti-Corruption RBC
Umair Azam Legal Counsel Canadian Bankers Association
Jochen Best VP, Compliance Paramount Commerce
Andres Betancourt VP - AML, Sanctions, Internal Audit and Internal Controls PNC Bank
Luis Duarte Head of U.S. OFAC and Sanctions Compliance Generali
Andrii Dzhaga FCSP Advisory Lead, Global Sanctions Stripe
Cameron Field Vice President VIDOCQ
Laura Houlihan Chief Compliance Officer Cybrid
Penny Moulton Director, Customs and Trade Compliance Canada UPS
Riyam Ratnajothi Director, Sanctions Compliance and Watchlist Management BMO
Kevin Riddell Director, Trade & Regulatory Compliance TREMCO
Paul Jonathan Saguil Deputy Head, Global Sanctions Compliance and Anti-Bribery/ Anti-Corruption Program TD
Kuno Tucker
Chief Compliance Officer Manulife
LAW FIRM SPEAKERS
Andrew Adams Partner
Steptoe LLP (USA)
Former Director, Task Force KleptoCapture U.S. Department of Justice
Peter Aziz
Senior Counsel Torys LLP
John Boscariol Partner
McCarthy Tétrault LLP
Erin Brown Senior Counsel
Norton Rose Fulbright
Former Policy Officer, Global Affairs Canada
Anden Chow Partner
MoloLamken LLP (USA)
Adam Huckle Partner
Maples Group
Greg Kanargelidis
Corporate Director Kanargelidis Global Trade & Customs Law
Shawn Neylan Partner
Stikeman Elliott LLP
William Pellerin Partner
McMillan LLP
Clifford Sosnow Partner
Fasken Martineau DuMoulin LLP
David Stetson Partner
Steptoe & Johnson LLP (USA)
Former Senior Lawyer, OFAC
Brenda Swick Partner
Cassels Brock & Blackwell LLP
AGENDA-AT-A-GLANCE
PRE-CONFERENCE WORKSHOPS
Tuesday, February 25, 2025
WORKSHOP A: 9:00 am–12:30 pm
Comprehensive Course on EU, U.S., and Canadian Sanctions: A Step-by-Step Guide to Incorporating Multi-Jurisdictional Requirements into Your Program
CONFERENCE DAY
1
Wednesday, February 26, 2025
8:00 am Networking Breakfast and Registration
8:45 am Opening Remarks from the Co-Chairs
9:00 am OPENING KEYNOTE
9:30 am CANADA’S NEW SANCTIONS EVASION REPORTING REGIME Satisfying Bill C-59 and New Reporting Requirements Under the PCMLTFA
10:30 am Extended Networking Break
11:00 am The Most Complex Multi-Jurisdictional Sanctions and Reporting Challenges: How to Work Through the Most Vexing Dilemmas
12:00 pm Networking Luncheon
1:15 pm KEYNOTE: DEPARTMENT OF FINANCE CANADA
1:45 pm CHINA Positioning Your Program in Anticipation of Expanded China Sanctions and Export Controls: New Compliance Lessons and Pain Points
2:45 pm Networking Break
3:00 pm Addressing Delisting Challenges in Today’s Evolving Sanctions Landscape
4:00 pm Analyzing Canadian and U.S. Asset Seizure and Forfeiture: Current Trends and Strategic Priorities
5:00 pm Day 1 Remarks and Networking Cocktail Reception
WORKSHOP B: 1:30–5:00 pm
Practical Guide to Detecting Evasion, Circumvention and Diversion Schemes: An Updated Roadmap to Keep Up with Increasingly Complex, Sophisticated Schemes
CONFERENCE
DAY 2
Thursday, February 27, 2025
8:00 am Networking Breakfast and Registration
8:45 am Opening Remarks from the Co-Chairs
9:00 am KEYNOTE: FINTRAC
9:30 am RUSSIA The Next Phase of Russia Sanctions Compliance: New, Anticipated Developments—and the Interplay with Export Controls
10:15 am Networking Break
10:30 am KEYNOTE ADDRESS
11:00 am IRAN Updating Your Program in Response to Increasing Sanctions Against Iran
12:00 pm Networking Luncheon
1:00 pm Mastering Compliance with Canada’s Deemed Ownership Rule: Proven Best Practices
1:45 pm Strengthening Your Third-Party Risk Assessments: Key Considerations for Your Supply Chain and Business Partners in Russia, China and Other Hot Spots
2:30 pm Networking Break
2:45 pm Canada’s Real-Time Rail: Sanctions Compliance Guidance for Instant Payments and the Path Forward for Modernisation
3:30 pm CUBA Conundrums: Navigating Blocking Orders and Conflicts of Law
4:30 pm Closing Remarks from the Co-Chairs and Conference Concludes
Special Update on the Interplay of AML, Sanctions and Export Controls—U.S. and Canadian Trends, Compliance and Enforcement Risks
John Boscariol Partner McCarthy Tétrault LLP
Andrew Adams Partner Steptoe LLP (USA)
Former Director, Task Force KleptoCapture U.S. Department of Justice
Legal Accreditation
This program can be applied towards 8.5 hours of annual Continuing Professional Development (CPD) required by the Law Society of Upper Canada. Members will also receive 8.5 additional CPD credit hours for the attendance at the workshops.
Members of the Law Society of Saskatchewan seeking accreditation for an out of province activity are requested to submit the CPD Activity Application Form and agenda directly to the LSS for approval. The form is available on the LSS Website.
The same number of hours may be applied toward your continuing legal education requirements in British Columbia.
The Barreau du Quebec automatically recognizes the same number of hours for this training activity, the latter having been accredited by another Law Society subject to MCLE.
Attendance at this program by members of the Law Society of Alberta may be submitted to the Law Society for Continuing Professional Development credits.
PRE-CONFERENCE WORKSHOPS
Tuesday, February 25, 2025
9:00 am–12:30 pm (Registration opens at 8:30 am)
AComprehensive Course on EU, U.S., and Canadian Sanctions: A Step-by-Step
Roadmap to Incorporating Multi-Jurisdictional Requirements into Your Program
Join your compliance colleagues for an in-depth exploration of the complex landscape of sanctions regulations across multiple jurisdictions, including Canada, the U.S., and the EU. During this workshop, attendees will take a deep dive into key regulatory frameworks, including the EU’s sanctions under its Common Foreign and Security Policy (CFSP), U.S. sanctions under OFAC, and Canada’s sanctions under its Special Economic Measures Act (SEMA).
Attendees will get “into the weeds” of the legal foundations, enforcement priorities, and urgent compliance challenges facing today’s businesses. Join this workshop and position yourself strategically to be prepared for the evolving sanctions landscape as we explore:
• Navigating current guidance on sanctions compliance programs across different agencies, including OFAC, the EU and UK, and Global Affairs Canada
• Ensuring compliance in today’s global geopolitical climate; how different regimes are leveraging sanctions as a critical tool amid geopolitical conflicts
• Best practices for monitoring third parties for sanctions risk across multiple jurisdictions
• Major differences between key regulatory frameworks
• Preparing for regulatory developments in real-time through advanced technologies
• Coordinating a multijurisdictional approach to key frameworks
1:30–5:00 pm (Registration opens at 1:00 pm)
BA Practical Guide to Detecting Evasion, Circumvention and Diversion Schemes: An Updated Blue Print to Keep Up with Increasingly Complex, Sophisticated Schemes
As evasion techniques become increasingly sophisticated and complex, companies and financial institutions must recognize red flags, conduct enhanced due diligence, and leverage advanced data analytics to stay ahead of bad actors.
During this deep-dive workshop, attendees will gain insights into real-world cases and schemes that are emerging, including the lesser-known red flags and how to detect them in real time. Key topics include:
• How bad actors are leveraging indirect routes, shell companies and third-party intermediaries to circumvent sanctions
• Identifying red flags in cases of complex corporate structures used to obscure ownership, source of funds, or the involvement of other sanctioned countries
• An update on the latest criminal and civil enforcement and designation actions
• Best practices for investigating a sanctions breach, including managing frozen assets
• Addressing the circumvention of export controls to facilitate the transfer of sensitive goods into Russia and other key hot spots
Norton Rose Fulbright
Former Policy Officer, Global Affairs Canada
Media Partners
Luis Duarte Head of U.S. OFAC and Sanctions Compliance Generali
Cameron Field Vice President VIDOCQ
Erin Brown Senior Counsel
DAY ONE
Wednesday, February 26, 2025
8:00 Registration and Networking Breakfast
8:45 Opening Remarks from the Co-Chairs
Sabrina Bandali Partner Bennett Jones LLP
Heidi Kinkartz
Global Sanctions & Screening, Global Compliance & AML Scotiabank
David Lim Partner
White & Case LLP (USA)
Former Co-Director, KleptoCapture U.S. Department of Justice
9:00
Speaker to Be Announced!
9:30 Satisfying Bill C-59 and New Reporting Requirements Under the PCMLTFA—How Organizations Are Incorporating Expanded Mandates Amid the Intersection of Sanctions and AML
As of Aug. 19, 2024, FINTRAC’s amended regulations to the PCMLTFA via Bill C-59 create a new requirement for reporting entities to report sanctions evasion for the very first time. Bill C-59, “the Fall Economic Statement Implementation Act, 2023,” requires entities subject to the PCMLTFA to report suspected sanctions evasion transactions to FINTRAC. In effect, reporting entities could be subject to FINTRAC’s administrative monetary penalties for failing to report transactions that might violate Canada’s sanctions laws.
During this panel, we will explore:
• Interpreting the latest key amendments to the PCMLTFA
Riyam Ratnajothi Director, Sanctions Compliance and Watchlist Management BMO
Kuno Tucker Chief Compliance Officer Manulife
• How to prepare for stricter due diligence obligations related to sanctions evasion measures and the impact on businesses
• Understanding the characteristics of attempted or completed financial transactions that could amount to suspected sanctions evasion
• Best practices for implementing controls and measures to mitigate risks
• Reviewing and updating your sanctions and AML policies to integrate new reporting requirements
10:30 Extended Networking Break
11:00 The Most Complex Multi-Jurisdictional Sanctions Complaince and Reporting Challenges: Concrete Examples of How to Work Through the Most Vexing Dilemmas
As governments around the globe impose new sanctions at a rapid pace, organizations must be ready with ramped up efforts to mitigate the risk of violations and penalties. During this panel, we will delve into the challenges of complying with overlapping sanctions regimes across Canada, the U.S., the UK, and the EU. Join this panel discussion as we explore:
• Strategies for managing the intricacies of conflicting legal standards, enforcement priorities, and reporting obligations
• Practical solutions for ensuring compliance and maintaining operational efficiency amid rapidly changing sanctions landscapes
• Comparing and contrasting EU, UK, and U.S. sanctions—recent developments and enforcement trends
• Best practices for building your multi-jurisdictional sanctions compliance program
12:00 Networking Luncheon
1:15 KEYNOTE: Department of Finance Canada Insights: FATF Assessment and the 5-Year-Review
Join us for a special keynote focused on the FATF assessment and its 5-yearreview, where Department of Finance Canada will give insights into the assessment of sanctions risk exposure in Canada. What does the FATF assessment mean for stakeholders? Learn about new legislation, heightened expectations and guidance.
Andres Betancourt
VP - AML, Sanctions, Internal Audit and Internal Controls PNC Bank
Adam Huckle Partner Maples Group
Clifford Sosnow Partner
Fasken Martineau DuMoulin LLP
Former Senior Legal Counsel, Global Affairs Canada
Matthew Shannon Senior Economist Department of Finance Canada
As companies and financial institutions prepare for the expansion of sanctions and export control restrictions with respect to China, there is an urgency for enhanced due diligence and real-time monitoring of supply chains, particularly in industries with heavy reliance on Chinese technology or manufacturing. During this panel, we will explore:
• Scenarios: Working through challenges and consequences of expanded China sanctions and export controls by the U.S., Canada and more jurisdictions
• The current landscape of automated solutions for screening transactions and specific flagging violations of humanitarian law
• Adapting your teams to real-time changes in legal frameworks
• Xinjiang, human rights-related designations, and the interplay with UFLPA
Stephen Alsace
Vice President, Global Head of Economic Sanctions, Anti-Bribery and Anti-Corruption RBC
David Lim Partner
White & Case LLP (USA)
Former Co-Director, KleptoCapture U.S. Department of Justice
I enjoyed the size and setting [of the event]; I also enjoyed the amount of time available for networking and side discussions.”
2:45
3:00 Mastering Delisting Challenges in Today’s Evolving Sanctions Landscape
During this panel, we will explore the uptick in delistings and updates, and how organizations are facing heightened challenges, including:
• A closer look at the latest Delisting Guidance
• How minority shareholders are dealing with their assets
• How are minority shareholders acting with non-sanctioned parties, and what kinds of issues should be examined?
• A look at the delisting application process
4:00
Chief Superintendent Rick Burchill Director General, Financial Crimes Royal Canadian Mounted Police
Greg Kanargelidis Corporate Director Kanargelidis Global Trade & Customs Law
Analyzing Canadian and U.S. Asset Seizure and Forfeiture Regimes: Key Trends and Priorities in 2025
Join us for an important discussion on asset seizure and forfeiture through both a Canadian and U.S. lens. During this panel discussion, we will unpack the latest amendments and more, including:
• Clarifying the process for seeking forfeiture under Canada’s Special Economic Measures Act (SEMA)
• Developing stronger due diligence protocols amid increasingly sophisticated money laundering and other financial schemes
• Practical implications for organizations to consider
• How proceeds of asset seizure and forfeiture are being used for the reconstruction of Ukraine
Alesia Nahirny Legal Counsel Department of Justice Canada
Valerie Dahan Detective Constable, Financial Crimes Unit, Asset Forfeiture Unit Toronto Police Service
Rob Vingerhoets Detective Constable, Proceeds of Crime Section, Financial Crimes Unit York Regional Police Anden Chow Partner MoloLamken LLP (USA)
5:00
Day 1 Concludes to Networking Cocktail Reception
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DAY TWO
Thursday, February 27, 2025
8:00 Registration and Networking Breakfast
8:45 Opening Remarks from the Co-Chairs
Sabrina Bandali Partner Bennett Jones LLP
9:00 KEYNOTE ADDRESS
Speaker to Be Announced!
Heidi Kinkartz
Global Sanctions & Screening, Global Compliance & AML Scotiabank
David Lim Partner
White & Case LLP (USA)
Former Co-Director, KleptoCapture, U.S. Department of Justice
RUSSIA
9:30 The Next Phase of Russia Sanctions Compliance: Recent and Anticipated Developments—and the Interplay with Export Controls
The next phase of Russia sanctions compliance is marked by increasingly sophisticated and targeted measures with a mounting overlap between sanctions and export controls. Recent developments, which have expanded restrictions on sectors like energy, defense, and critical technologies, have tightened the scope of permissible business with Russian entities. During this panel, we will explore:
• An overview of recent developments and lessons learned related to the correlation between sanctions and export controls
• Anticipating measures that might restrict access to advanced technologies and dual-use goods
• Ensuring supply chain transparency and compliance with both U.S. and international export control laws
• Russia sanctions and export controls through a U.S. lens
• The latest in sanctions evasion and how Russia is setting up new branches for subsidiary banks
• Navigating the complexities of key language in legislation and Russia sanctions regimes
10:15 Networking Break
10:30 KEYNOTE ADDRESS
Speaker to Be Announced!
Andrii Dzhaga
FCSP Advisory Lead, Global Sanctions Stripe
William Pellerin Partner McMillan LLP
Andrew Adams Partner
Steptoe LLP (USA)
Former Director, Task Force KleptoCapture U.S. Department of Justice
11:00 Updating Your Program in Response to Increasing Sanctions Against Iran: Confronting New Enforcement and Compliance Risks
Join this panel as we explore the expansion of sanctions on Iran across multiple jurisdictions, including:
• Latest U.S., UK, and EU sanctions against Iran
• The impacts and latest in Iran’s ghost fleet and illicit shipping actors
• Sanctions implications and 2024 year-end updates to sanctions against Iran, including OFAC’s economic sanctions enforcement guidelines
• Exploring the Iranian-Russian-Chinese alliances
» The Russia-Iran military cooperation
» How Iran is helping Russia evade sanctions
12:00 Networking Luncheon
Laura Houlihan Chief Compliance Officer Cybrid
Sabrina Bandali Partner
Bennett Jones
1:00 Mastering Compliance with Canada’s Deemed Ownership Rule: Proven Best Practices, Valuable Lessons Learned
In June 2023, as part of the Budget Implementation Act 2023, there were significant amendments made to Canada’s sanctions statutes—the Special Economic Measures Act (SEMA), and the Justice for Victims of Corrupt Foreign Officials (JVCFOA). As a result of these amendments, ownership and control rules were clarified, expanding the scope of due diligence on counterparties that might be owned or controlled by sanctioned parties. During this panel discussion, we will explore:
• Enhancing current due diligence standards to satisfy key requirements
• Big compliance missteps to avoid—best practices and lessons learned
• How to address the complexities of compliance with the new amendments—a look at the real-world challenges and how to manage them
Umair Azam Legal Counsel
Canadian Bankers Association
Jochen Best VP, Compliance
Paramount Commerce
John Boscariol Partner
McCarthy Tetrault LLP
1:45 Strengthening Your Third-Party Risk Assessments: Key Considerations for Your Supply Chain and Business Partners in Russia, China and Other Hot Spots
Strengthening your third-party risk assessments in regions like Russia, China, and other key hotspots requires a strategy that includes evaluating geopolitical factors, regulatory compliance, and the financial stability of potential partners. Key topics during this session include:
• Conducting enhanced due diligence that encompasses not only financial and operational capabilities, but also an understanding of potential exposure to sanctions risks and international political unrest
• Regularly updating risk assessments and establishing clear communication channels with partners
• Mitigating the impacts associated with supply chain disruptions
• Leveraging real-time, third-party risk monitoring solutions that considers a multi-jurisdictional approach
• Approaching due diligence “up” the supply chain and industries implicated by supply chain restrictions
2:30 Networking Break
Penny Moulton
Director, Customs and Trade Compliance
Canada
UPS
Kevin Riddell
Director, Trade & Regulatory Compliance TREMCO
Shawn Neylan Partner
Stikeman Elliott LLP
2:45 Canada’s Real-Time Rail: Sanctions Compliance Guidance for Instant Payments and the Path Forward for Current Modernization Efforts
Instant payment systems are creating both high reward and high risk for Canada’s payments infrastructure. During this session, take a dive into the Real-Time Rail (RTR) and learn the latest sanctions compliance guidance in the world of instant payments. Discussion points include:
• Understanding the latest with the Real-Time Rail system and the real-life implications for financial institutions
• How RTR is changing the payments sphere in Canada
• Exploring the world of real-time payments and the aligned need for real-time compliance
• How industry will prepare for misuse of the payments rail
• The impact of RTR expanding to include non-banking MSBs in sanctions
• Current guidance on Real-Time Rail
Paul Jonathan Saguil Deputy Head, Global Sanctions Compliance and Anti-Bribery/Anti-Corruption Program
Peter Aziz
Senior Counsel Torys LLP
3:30 Cuba Conundrums: Navigating Blocking Orders and Conflicts of Law
Join our closing panel as we explore the evolving impact of U.S. sanctions on Cuba in the Canadian context, with discussion points including:
• Managing overlapping sanctions obligations and blocking laws across multiple jurisdictions
• How should companies treat non-sanctioned currencies when financial infrastructures are almost fully sanctioned?
• Best practices for navigating conflicts between sanctions regimes, and how to efficiently deal with blocking orders
Brenda Swick Partner Cassels Brock & Blackwell LLP
4:30 Closing Remarks from the Co-Chairs and Conference Concludes
Upcoming Events
ACCOMMODATIONS
contact the hotel directly and quote "CI’s Canada Sanctions".
Please note that the guest room block cut-off date is February 10, 2025. After that date OR when the room block fills,