Following the recent publishing of an Opinion by Gerard Hogan, Advocate General, of the European Court of Justice on European banks and the potential breach of the EU blocking statute if contracts with US-sanctioned Iranian and Cuban entities are terminated, Anita Clifford was asked by Thomson Reuters to comment on the implications.
Anita spoke of the potential for a bank’s anti-money laundering and anti-corruption policies to ground a decision to not do business with certain entities but emphasised the need for it to be genuine and evidenced by a track record of taking AML and corruption issues seriously. The article was published on 1 June 2021 by Thomson Reuters Regulatory Intelligence.
