Increased activity in sanctions-related matters, as noted by Jonathan Poling, reported by Bloomberg Law.
In the world of international trade, a significant shift has been observed, with an increase in enforcement in the sanctions area becoming apparent. This surge, as reported by Jonathan Poling, an international trade partner at Gump, is largely due to recent changes in nearly two-dozen sanctions programs, including those related to Cuba, Venezuela, and Iran.
Jonathan Poling's responsibilities encompass the disclosure and remediation of certain sanctions violations, a role that demands a considerable amount of his time due to the increased enforcement. Approximately 40% of his time is spent on matters with potential criminal exposure related to sanctions.
The heightened enforcement has led to a more pronounced focus on cases with criminal risk compared to those with just civil risk. This shift is not only observed in Jonathan Poling's work but also across various agencies, with the Justice Department and FBI taking a firm stance against sanctions evasion and related issues.
The increased demand for law firms handling sanctions-related activity, including those with a focus on criminal matters, is a direct consequence of this shift. Leading law firms specializing in sanctions and export controls, such as Shearman & Sterling, Steptoe & Johnson, Hughes Hubbard & Reed, Alston & Bird, and Clifford Chance, are actively seeking good practitioners who can handle both criminal and civil matters.
Many clients now have a greater appreciation for the dangers and risks of getting sanctions wrong, as the threat of both civil and criminal penalties looms larger. The surge in sanctions-related activity, as discussed in the Bloomberg Law article "Sanctions Shift Sparks Boon for Big-and Little-Law," is driving this demand.
In conclusion, the increased enforcement in the sanctions area, coupled with the greater threat of penalties, is reshaping the landscape of international trade law. As the focus shifts towards criminal matters, law firms are actively seeking practitioners who can navigate this complex and evolving field.
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