Dec 06, 2010 19:10 UTC
Guest Article by Mike McNamara, Michael Zolandz, Peter Feldman & Jeffrey Krilla.
Among many sobering revelations coming out of the latest Wikileaks document dump – another quarter-million pages of classified documents posted – is that absolutely everyone is worried about Iran. The confidential cables reveal the extent to which government officials, analysts, diplomats and heads of state fear that containment of Iran’s nuclear ambitions has become an insoluble problem. For businesses engaged in foreign trade, and defense sector businesses in particular, the Iranian conundrum only heightens the need to comply with reinforced sanctions against doing business with the Islamic Republic.
In this article, members of the Public Policy & Regulatory practice at law firm SNR Denton take a deep dive into the political and enterprise risk management issues surrounding Iranian sanctions regimes. Non-compliance is no small matter, regardless of how tenuous or arm’s length a company’s connections with Iran. “As the nature of risk evolves, it is critical that the way companies monitor and evaluate risk adapts to the new landscape.” Welcome to the brave new world of global compliance, where the consequences of even an inadvertent failure can be especially heavy for defense sector firms…
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