Since WorldCom, the United States Department of Justice and other agencies have imposed more than 80 monitorships on a variety of companies, including some of the world’s best-known names. The terms of these monitorships and the industries in which they have been employed vary widely. Yet many of the legal issues they raise are the same. To date, there has been no in-depth work that examines them.
GIR’s The Guide to Monitorships provides articles written by contributors with first-hand experience working with or as monitors. The Guide discusses key issues, from every stakeholder’s perspective, making it an invaluable resource for anyone interested in understanding or practicing in the area. In this chapter, our experts Ellen Zimiles, Patrick McArdle, Steven McCarthy and Jeremy Robb provide an overview of monitorships relating to violations of sanctions law and/or regulation. Although the structure of sanctions monitorships can be similar to other types of monitorships, due to the specifics of sanctions law and regulation, certain factors, such as the technology systems required to be compliant, inconsistencies across geographies and the binary context of sanctions compliance, require specific attention. Download the full chapter to learn about the legal and historical context of sanctions monitorships, as well as specific challenges for institutions under a monitorship.