Date: 25Sep 2015
The $9 billion penalty imposed against BNP Paribas in 2014 was characterized as illustrating the ‘ferocity’ of US extraterritorial enforcement against non-US companies, particularly financial institutions. In recent years we saw an explosive increase in the impact of the US extraterritorial enforcement by US regulatory agencies and to a lesser extent courts both in the range of activities and the number of non-US companies impacted. US extraterritoriality brought blockbuster penalties in the hundreds of millions and billions of dollars against companies whose places of registration, headquarters and primary operating locations, predominant majority of clients, shareholders and transactions lie outside the US.
This seminar will examine how US extraterritoriality enables US regulatory agencies and courts to punish companies and physical persons based outside of US borders for actions outside US borders potentially violating US domestic law and regulations or posing a threat to US foreign policy or security interests.
Mr. Paul Backer served as the General Counsel of an energy company with over a dozen international subsidiaries. He has 20+ years of professional experience as an attorney and C level company officer worked onsite in over 30 countries as a leader of company and development assistance projects. Mr. Backer led over 40 seminars and served as the editor of four law textbooks on corporate law, governance and finance sponsored by the World Bank, USAID, national securities SRO and others. He is a member of the NYS Bar and holds Dual LL.M. degrees from Georgetown University Law Center in International Law and in Securities Regulation.
