Drive governance and compliance
Working with regulators to convince them of your focus on remediation and improvement
From time to time, you will find yourself in front of a regulator explaining ‘what went wrong’ and ‘how you are going to fix it’. These occasions, albeit upsetting to most people, are likely to happen and you should be prepared for them. Our solutions help you get ready and present your best case.
Learn more by reading some of our client stories.
Getting taken off a US Government restricted parties list saved a company from near financial and reputational destruction.
Our client, owing to some less-than-ideal due diligence, performed a business transaction that landed them in hot water because they did business (unknowingly) with an Iranian state asset. Banned from doing business with the US, they were placed on a US government sanctions list for three years. Our job was to convince the US government that they had improved their controls and should be freed from these limitations.
Clear independent reviews and independent advice provided
Helping present their case to regulators
Successful removal of the sanctions
Situation or challenge
Our client operates a fleet of ships and (unknowingly) bought a ship from a front company that was shielding Iranian interests. Subsequently banned under US sanctions, they had to build a strong due diligence system to prevent this from happening again.
Our solution was to conduct a review of their due diligence system around the purchase and sale of major assets to ensure that each counterparty was known and cleared from a compliance perspective. The review was designed to be shared with the US government to prove that the company now had great systems in place and had ‘learnt its lesson’.
The resulting report was a success and was shown to the US government as part of the company's overall presentation on its compliance system. The sanctions on the company were ultimately removed, and the programme continues to be the model programme for all companies in its group.
* We take our clients' confidentiality seriously. While we've masked or changed their names, the results are real.