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For U.S. Banks, Compliance Risks of Iran Deal May Lie Overseas: Sanctions Expert

The expected reemergence of Iran on global markets will likely pose the toughest challenge for sanctions compliance officers in the coming year, according to Alexandre Lamy, an attorney with Baker & McKenzie's International Trade Practice Group. The uneven nature of the sanctions-relief package, which would keep in place most U.S. restrictions while suspending the bulk of global prohibitions against the Islamic republic, raises compliance questions that have yet to be answered. What's certain is that banks will have to monitor against banned U.S.-dollar transactions and prohibited activity by affiliates and clients with an American footprint, he said. Lamy, who also...

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