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NATIONAL SECURITY PRACTICE ECONOMIC SANCTIONS
Q2 2020
1 Morrison & Foerster LLP
NATIONAL SECURITY PRACTICE: ECONOMIC SANCTIONS A DESTINATION FIRM FOR SENIOR OFFICIALS LEAVING U.S. GOVERNMENT AGENCIES,
Morrison & Foerster’s Economic Sanctions practice has the distinction
of being perhaps the only law firm in the world with three full-time veterans of the
U.S. Department of the Treasury’s Office of Foreign Assets Control (including John
Smith, who served as OFAC Director until summer of 2018). We are certainly the
only firm with three such recent additions from OFAC who can speak from
eyewitness experience regarding the inner workings of OFAC and the Trump
Administration in their implementation, analysis, and enforcement of U.S. economic
sanctions and their expectations regarding corporate compliance programs.
Additionally, by having John Carlin – the former Assistant Attorney General for DOJ’s
National Security Division and former Chief of Staff to then-FBI Director Robert
Mueller – co-leading our team, we have both the former top civil and criminal
sanctions enforcement authorities available to engage on the matter wherever it
leads. We also have an elite roster of former federal regulators, prosecutors, and
other leading officials who assist leading global financial institutions and major
corporations to identify and resolve sanctions compliance and export controls
issues from a regulator’s point of view, bolster compliance programs, navigate
regulatory investigations and inquiries, negotiate with prosecutors and regulators,
and, when necessary, defend against potential charges or enforcement actions.
NATIONAL SECURITY
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MOFO AT A GLANCE
A GLOBAL FIRM WITH UNMATCHED NATIONAL SECURITY EXPERIENCE
We are among a handful of firms that operate a genuinely global national security group. With a formidable team led by seasoned former government officials and attorneys with decades of leading private sector experience, our firm brings a depth of experience and perspective that is unmatched and enables it to address our clients’ most challenging Export Controls/Sanctions, FARA, and CFIUS matters. Few, if any, law firms in the world have done more in recent years to assemble highly respected, prominent former U.S. government officials in the national security space, providing us with unrivaled subject-matter depth and insight in a broad range of matters.
All told, the Morrison & Foerster’s national security practice includes three former Senate-confirmed national security officials, the former leading officials who until recently oversaw both criminal and civil sanctions enforcement, two former top representatives of their respective departments on CFIUS, three recent experienced OFAC officials, two former National Security Council staff members, the top official overseeing FARA compliance and enforcement, the top official overseeing criminal export control compliance, three former DOJ senior national security lawyers, and two former Supreme Court clerks. Most importantly, the Firm’s recent additions from government reinforce and strengthen a practice that was already advising clients throughout the world on their most challenging and significant national security matters and draw upon an existing wealth of experience within the Firm.
A GLOBAL REACH
1,000+
lawyers globally
Ranked among
TOP 10 FIRMS in American
Lawyer’s Diversity Scorecard
Offices
in 7 countries
17
200
lawyers in Asia
Global reach of
125+ Countries
Worldwide
Department of Justice Securities and Exchange Commission Office of Foreign Assets Control National Security Council Office of the Director of National
Intelligence Department of Defense
Experience as high-ranking U.S. government officials
NATIONAL SECURITY
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ECONOMIC SANCTIONS
Sanctions are a global compliance challenge, and a global challenge requires a global solution. With sanctions
experts in our 17 offices across the United States, Europe, and Asia, Morrison & Foerster has an unparalleled
ability to provide on-demand representation when our clients need it most. Our attorneys are diverse in every
sense, but indistinguishable in their commitment to excellence and client service.
Led by two of the most experienced enforcement officials covering both the civil and criminal sides of U.S.
sanctions and export controls investigations and enforcement actions, Morrison & Foerster’s National Security
Practice Group can help clients make sense of the regulatory and policy landscapes, and forecast what might
be coming so that our clients can get ahead of it. Our lawyers help
clients understand the various sanctions regimes implemented by
OFAC; assist them on discrete issues, such as obtaining an OFAC license
for the release of blocked funds or to permit an otherwise prohibited
transaction; and handle broad sanctions investigation and enforcement
matters. When new sanctions are imposed (whether by legislation,
executive order, or implementing regulations), we assist clients in
updating their policies and procedures to ensure best compliance
practices or in creating/revamping compliance programs.
We also assist our clients with assessments of their OFAC policies and
procedures, conduct internal investigations to identify issues that
contributed to deficiencies in their OFAC compliance programs, provide
training on sanctions issues, and help clients develop strategic plans to
improve their systems and procedures to address compliance gaps. If a
lapse results in government interest or action, our award-winning
Investigations + White Collar Defense practice is there to provide
support.
One of our greatest strengths is our global presence, allowing us to provide daily advice and assistance to
financial institutions and major corporations facing challenges across a multitude of markets. We are
constantly monitoring issues and developments across sanctions programs covering Iran, Russia,
Syria/Turkey, Cuba, North Korea, and Venezuela, among other programs. We have a strategically located team
in the United States, Europe, and Asia to provide real-time and seamless advice and assistance to global
financial institutions and major corporations across continents and time zones. Our international platform
and network allow us to remain on top of the U.S. sanctions risk and overall financial crimes landscape in
every region where our clients operate.
Our extensive U.S. government experience and connections in economic sanctions, along with the expertise of
our experienced private sector colleagues, allow us to be more insightful and efficient as we serve your needs.
Our sanctions practitioners understand first-hand the challenges our clients face as global financial
institutions or major corporations in ever-changing regulatory landscapes, and we can respond accordingly.
With our unmatched in-house expertise, a collaborative team approach, sensible staffing, strict budget
monitoring, technological innovation, and extensive project management training, we provide true quality
client service at reasonable rates.
Chambers USA 2019 Financial Services Regulation: Banking (Compliance): Nationwide White-Collar Crime & Government Investigations: New York
Legal 500 US 2019 Financial Services Regulation: National White-Collar Criminal Defense: National
IFLR1000 2019 United States: Financial Services Regulatory
NATIONAL SECURITY
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We have counseled clients, conducted investigations, and worked with partners across the globe, including in some of the world's most challenging markets in Africa, Asia, Europe, Latin America, the
Middle East, and Russia.
With 17 offices across the United States, Europe, and Asia, Morrison & Foerster is up to the task. Our attorneys are diverse in every sense, but indistinguishable in
their commitment to excellence and client service.
NATIONAL SECURITY
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REPRESENTATIVE MATTERS
ECONOMIC SANCTIONS
Routinely advise multinational financial institutions of all aspects of U.S. sanctions compliance and risk
mitigation.
Represent a publicly listed Asian company in evaluating permissible Iranian trading activities and impact
of Ukraine-related sanctions on potential investment transactions with Russian sovereign wealth fund.
Represent a major state-owned heavy equipment manufacturing company on compliance with U.S. and
EU sanctions in connection with initial public offering. Ongoing compliance training.
Represent one of the largest automobile manufacturers in evaluating joint ventures in sanctioned
countries.
Represent global insurance companies in OFAC compliance issues regarding co-investment with Iranian
government-owned companies.
Represent an international trading company in dealing with OFAC freezing of funds in connection with
shipments of goods on Iranian-owned blocked vessels.
Advise a non-U.S. government-owned bank in OFAC negotiations regarding potential violations of U.S.
prohibitions on non-U.S. persons doing business with Iran.
Represent non-EU companies on EU sanctions regimes related to Iran, Syria, and Ukraine/Russia.
Advise a non-U.S. government-owned bank in OFAC negotiations regarding potential violations of U.S.
prohibitions on non-U.S. persons doing business with Iran.
Represent the largest container ship and supply vessel operator in the world, by advising on sanctions
issues related to its port operations in areas near sanctioned countries and compliance issues related to
historical transactions.
Represent The Clearing House – which is owned by and represents dozens of the world’s largest
commercial banks – on a range of sanctions advisory matters including drafting of memoranda and
consultations with OFAC.
Represent one of the largest banking institutions in the United States, regarding a request for
authorization from OFAC to unblock and transfer a large payment from a frozen account pursuant to a
U.S. court order.
Established the sanctions compliance program around a shipping terminal that the client is developing in
a jurisdiction with relatively high sanctions risks
Represent one of the largest retailers and tech services firms in the world, including updating their
sanctions contract provisions, advising on how to engage with OFAC Enforcement during an ongoing
investigation, advising on third-party sanctions liability issues.
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OUR TEAM OUR TEAM: UNITED STATES
John E. Smith served as the Director of OFAC, as well as its Deputy Director and
Associate Director, for 11 years before joining MoFo in July 2018. Concurrent with serving
as OFAC Director, John also served as acting Under Secretary for the Office of Terrorism
and Financial Intelligence at Treasury (January 2017 to June 2017). John has overseen
the U.S. government’s economic sanctions efforts, imposing sanctions on heads of state,
countries, and illicit actors; conducting enforcement actions against dozens of major
financial institutions and companies around the world; and developing innovative
sanctions enforcement policies to address evolving U.S. national security priorities. John
has also supervised the investigation, preparation, and settlement of cases for hundreds of
millions of dollars. John is co-head of Morrison & Foerster’s National Security practice
and was named by Global Investigations Review (GIR) in November 2019 as one of the
most respected Washington, D.C. sanctions lawyers.
John E. Smith Washington, D.C.
John P. Carlin, former Assistant Attorney General for the U.S. Department of Justice’s
National Security Division (“NSD”), chairs Morrison & Foerster’s global risk and crisis
management team and advises industry-leading organizations in sensitive cyber,
sanctions and embargoes, and other national security matters; white-collar
investigations; and government enforcement actions. John regularly advises leading U.S.
and overseas companies across numerous industries - including in the technology,
defense, and telecommunications sectors - regarding crisis management, cyber incident
response and preparedness, regulatory strategy, FARA, and CFIUS. Mr. Carlin is co-head
of Morrison & Foerster’s National Security practice. He is also the author of Dawn of the
Code War: America’s Battle Against Russia, China, and the Rising Global Cyber Threat,
which provides an inside look into how we combat daily attacks on United States
companies, citizens, and government.
John P. Carlin Washington, D.C.
Nick Spiliotes has 25 years of experience advising clients on national security
compliance matters involving foreign investment approvals (CFIUS); Department of
Defense, Department of Energy, and Nuclear Regulatory Commission foreign investment
approvals under the National Industrial Security Program; and United States sanctions
and embargoes (OFAC), including certain enforcement matters, relating to a broad range
of industries, products, and transactions. Nick is co-head of Morrison & Foerster’s
National Security practice.
Nick Spiliotes Washington, D.C
OUR TEAM
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David A. Newman Washington, D.C.
David Newman is a partner in Morrison & Foerster Global Risk and Crisis
Management, Privacy and Data Security, and National Security practice groups. David
draws upon his experience as a senior White House and U.S. Department of Justice (DOJ)
attorney and his extensive background in government regulation and national security to
guide clients through sensitive matters pertaining to national security and global risk and
crisis management. He has significant experience advising clients on crisis management
and cybersecurity, counseling clients on Committee on Foreign Investments in the United
States (CFIUS) reviews, and conducting internal and government-facing cross-border
investigations.
Barbara Mendelson New York
Barbara Mendelson is a partner in the Financial Services Group in the New York
office. Her practice involves advising foreign and U.S. banks in a variety of complex
regulatory matters, including sales and acquisitions of U.S. banking and nonbanking
firms; Dodd-Frank Act issues; applications to federal and state bank regulators for
expansion of activities and new products; Bank Secrecy Act and OFAC matters; and over-
the-counter and exchange-based trading of various instruments and derivatives. She has
represented foreign banks in their U.S. operations for more than 25 years.
Jiang Liu New York
Jiang Liu is a partner in the Securities Litigation, Enforcement, and White-Collar
Criminal Defense Group. Jiang’s practice spans a broad range of bank regulatory work,
and he has significant experience representing global financial institutions. Jiang has
deep knowledge of the regulations applicable to U.S. and global financial institutions. He
regularly provides advice in connection with the Bank Holding Company Act, the Volcker
Rule, bank securities activities, and U.S. bank and non-bank acquisitions, among other
things. He has a substantial practice representing global financial institutions, especially
those in China, related to their U.S. activities. Prior to joining Morrison & Foerster, Jiang
worked at a leading international law firm in their Hong Kong and New York offices.
Ruti Smithline New York
Ruti Smithline is a partner in the Securities Litigation, Enforcement, and White-Collar
Criminal Defense Group. Her practice focuses on cross-border corporate internal
investigations and white-collar criminal defense matters. She regularly advises individual
and corporate clients in criminal matters and related civil enforcement and regulatory
matters. Her cases have involved alleged violations of the FCPA and other anti-corruption
laws, money laundering and the Bank Secrecy Act, trade and sanctions laws, securities
fraud, and a myriad of compliance issues. She is a member of the firm’s global FCPA &
Anti-Corruption Task Force. As a native Spanish-speaker, her practice focuses on internal
investigations and related compliance work throughout Latin America.
OUR TEAM
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Charles Capito III Washington, D.C.
Charles Capito, a member of the firm’s Government Contracts + Public Procurement
and National Security, CFIUS, Sanctions + Export Controls Groups, is based in the
Washington, D.C. office. Charles represents clients in several key regulatory areas. In the
National Security space, he counsels frequently on the complex and evolving
requirements of the Committee on Foreign Investment in the United States (CFIUS) as
U.S. businesses and foreign investors balance their business plans against CFIUS’s
considerable role in protecting U.S. national security. He also regularly advises clients on
U.S. export controls regimes - the International Traffic in Arms Regulations (ITAR) and
the Export Administration Regulations (EAR) - and issues that government contractors
face when subject to foreign ownership, control, and influence (FOCI).
Michael V. Dobson Washington D.C.
Michael Dobson is of counsel in Morrison & Foerster’s National Security practice
group and has extensive experience advising clients on critical national security matters
pertaining to U.S. economic sanctions, export controls, and various regulatory and
compliance issues. He also counsels clients on matters regarding U.S. and foreign
international trade laws and regulations, including the Export Administration
Regulations (EAR), the International Traffic in Arms Regulations (ITAR), the Foreign
Corrupt Practices Act (FCPA), and the Committee on Foreign Investments in the United
States (CFIUS). Michael most recently served as a Senior Sanctions Policy Advisor in the
U.S. Treasury Department’s Office of Foreign Assets Control (OFAC), where he was one of
the U.S. government’s leading sanctions officials in the development and implementation
of U.S. sanctions policy toward Russia and throughout the Western Hemisphere.
Aki Bayz advises clients on compliance with the applicable trade-sanction and economic
embargoes administered by OFAC; the export control and anti-boycott requirements of
the BIS; and military items subject to the jurisdiction of the DDTC. Aki’s clients come
from a broad range of companies, from multinational corporations engaged in
international transactions worldwide to startup entities exporting for the first time, and
across an array of industries and sectors, including information technology,
telecommunications, financial services, FinTech, basic commodities, consumer goods,
defense electronics, aerospace, biotechnology, medical devices, and semiconductors.
Aki Bayz Washington, D.C.
Robert Litt Washington, D.C.
Bob Litt, former General Counsel for the Director of National Intelligence, is of counsel
in Morrison & Foerster’s National Security and Global Risk & Crisis Management
practices. Bob has extensive experience advising clients on national security matters,
including those in relation to the Committee on Foreign Investment in the United States
(CFIUS). In addition, he also has significant experience in civil and criminal litigation as
well as investigations.
OUR TEAM
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Jennifer Talbert Washington, D.C
Jennifer Talbert is an associate in the National Security Group in Morrison & Foerster’s
Washington, D.C. office. Her practice involves assisting clients on regulatory and
transactional matters relating to financial services, economic sanctions, and national
security. In national security contexts, Jennifer assists clients with matters involving
economic sanctions administered by the Office of Foreign Assets Control (OFAC) and
compliance with trade controls under the Export Administration Regulations (EAR). She is
also experienced in guiding clients through U.S. foreign investment approvals involving the
Committee on Foreign Investment in the United States (CFIUS).
Joseph Benkert served as a leading civilian official in the Department of Defense
(“DoD”) from 2003 to 2009 under both the Bush and Obama administrations, including
as Assistant Secretary of Defense for Global Security Affairs after being nominated by
President Bush and confirmed by the Senate. While at the DoD, Joseph led the
department’s involvement in numerous complex matters before CFIUS. He oversaw more
than 400 CFIUS cases and represented the DoD in CFIUS deliberations determining
whether a foreign investment in a U.S. company or its operations represented a national
security risk. During his tenure, he advised clients on transactional matters that were
subject to CFIUS review. Joseph is a senior advisor in Morrison & Foerster’s National
Security practice group.
Joseph Benkert Washington, D.C.
Amy Josselyn Washington, D.C
Amy Josselyn draws upon 15 years of experience in the U.S. Intelligence Community to
advise clients on national security regulatory compliance and transactional matters.
Amy’s practice focuses on U.S. foreign investment approvals involving the Committee on
Foreign Investment in the United States (CFIUS) and related compliance regimes,
including Department of Defense foreign ownership, control, and influence (FOCI)
mitigation under the National Industrial Security Program; the Export Administration
Regulations (EAR); the International Traffic in Arms Regulations (ITAR); and U.S.
sanctions and embargoes administered by the Office of Foreign Assets Control (OFAC).
Kristofer Readling Washington, D.C.
Kristofer Readling focuses his practice on sanctions and export control issues and
investigations, having most recently served as an Enforcement Officer in the Enforcement
Division of the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC). At
OFAC, Kristofer investigated violations of various U.S. sanctions programs, led large,
complex enforcement cases, developed and implemented novel investigative strategies
and enforcement theories, and negotiated settlements. To support OFAC’s mission,
Kristofer advised OFAC staff on difficult issues with few legal or policy precedents and
helped to establish many OFAC Enforcement precedents by bringing novel public actions
against U.S. and foreign companies for violations of U.S. sanctions.
OUR TEAM
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Jonathan Babcock Washington, D.C.
Jonathan Babcock is an associate in the National Security Practice Group in Morrison &
Foerster’s Washington, D.C. office. His practice involves assisting clients in a range of
national security matters, including economic sanctions compliance, export controls
compliance, and national security reviews before the Committee on Foreign Investment in
the United States (CFIUS). Prior to joining Morrison & Foerster, Jonathan practiced in the
International Trade and National Security practice groups of a major D.C. law firm. Jonathan
graduated from the University of Virginia School of Law, where he served as an articles
editor for the Virginia Journal of International Law. Jonathan received his B.A. summa cum
laude from the George Washington University.
OUR TEAM: ASIA
Timothy Blakely is Managing Partner of Morrison & Foerster’s Hong Kong office. He is
also head of the firm’s Hong Kong Litigation Department. Mr. Blakely’s practice focuses
on government and internal investigations and complex commercial litigation and
international arbitration matters. He also is a member of the firm’s global anti-corruption
and compliance team. He conducts internal investigations throughout Asia of potential
violations of anti-corruption laws, leads pre-acquisition anti-corruption related due
diligence and post-closing remediation, and regularly provides advice, counseling, and
training to clients about FCPA and anti-corruption related issues.
Timothy W. Blakely Hong Kong
Daniel Levison is a partner in Morrison & Foerster’s Singapore office, where he heads
its Litigation Department. He counsels clients regarding compliance matters and
conducts investigations and compliance reviews across the Asia-Pacific region, where he
has over 18 years of experience. Mr. Levison also represents clients in complex
commercial litigation and arbitration and contentious regulatory proceedings. His
practice has included work in many countries in Southeast Asia and beyond, including
Malaysia, Thailand, Indonesia, Vietnam, the Philippines and Singapore, as well as India,
Nepal, Australia, New Zealand, Japan, Korea and China.
Daniel P. Levison Singapore
Sheryl George Singapore
Sheryl George is a disputes and compliance associate in the Singapore office of
Morrison & Foerster. Her practice focuses on investigations and white-collar matters,
regulatory and global compliance, including compliance due diligence for corporate
transactions, as well as complex commercial disputes. Ms. George has particular
expertise in fraud and corruption, money laundering, economic sanctions, cybercrime
and cybersecurity, and a broad range of complex commercial matters.
OUR TEAM
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Gary Zeng Hong Kong
Gary Zeng focuses his practice on China-related investigation and dispute resolution
matters for multinational and Asia-based companies. Gary has extensive experience in
investigations involving allegations of corruption, fraud, and other business misconduct
in various industries, including IT, finance, and manufacturing. Gary is also experienced
in assisting multinational clients in coordinating responses to Chinese regulatory
inquiries and other contentious regulatory and litigation matters and in conducting due
diligence focused on compliance-related issues.
Kasuyasu Yoneyama Tokyo
Kazuyasu Yoneyama is Of Counsel in the Tokyo office of Morrison & Foerster,
specializing in complex cross- border antitrust investigations, intellectual property, and
national security matters, including economic sanctions. These include the defense of a
Japan-based manufacturing group in an international cartel investigation brought by the
European Commission, representing of individuals in relation to Antitrust Criminal
Investigations driven by the U.S. Department of Justice, and representing a global
technology company in a Japan Fair Trade Commission investigation of its competitor
and as the plaintiff in Japanese civil antitrust litigation. He also has range of experience
in intellectual property, product liability and other litigation matters. He brings to the IP
practice his background as a physicist.
OUR TEAM: EUROPE
Roland Steinmeyer Berlin
Roland Steinmeyer is a partner in Morrison & Foerster’s Berlin office, and advises on
national and international corporate matters. He has more than 35 years of experience in
the areas of regulatory compliance, internal investigations, and corporate governance
law. His practice focuses on board counseling as well as on German and U.S. compliance
requirements, such as matters involving the FCPA, and on corporate litigation matters.
He also advises clients on a range of cross-border government enforcement and other
compliance and corporate matters, the structuring of compliance programs, follow-on
litigation, and D&O insurance coverage.
Gareth Rees QC is a partner based in the London office of Morrison & Foerster. He
is a leading UK white collar and regulatory litigator. Gareth is one of the most
experienced white-collar crime and regulatory lawyers in the UK. His experience
includes advising clients on white-collar crime, regulatory, sanctions, fraud, bribery
and corruption matters. He acted for a defendant in the SFO Iraq Oil-for-Food
prosecutions in 2011 and in a leading export control matter in 2008. Offering
corporations confidential internal investigations with the view to identifying potential
breaches and offenses, and investigations responding to criminal and regulatory
agencies, Gareth advises clients on criminal and regulatory breaches, compliance
assessment and multi-jurisdictional issues. . He was Executive Director of
Enforcement at the UK Financial Reporting Council 2012-17.
Gareth Rees QC London
OUR TEAM
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Saqib Alam London
Saqib Alam is of counsel in Morrison & Foerster’s London office specializing in
regulatory compliance and investigations, and white collar crime. Mr. Alam also has
experience advising clients on matters related to economic sanctions. He has carried out
compliance investigations in more than 30 countries around the world and has
represented clients before prosecuting agencies in the United States, United Kingdom,
Brazil, Germany, India and Singapore. Mr. Alam is admitted in New York, England and
Singapore.
Tola Adeseye London
Tola Adeseye advises on a broad range of commercial litigation, including complex
commercial contracts disputes, internal corporate investigations, white-collar crime and
defending clients against government enforcement agencies. Mr. Adeseye has experience
representing a major multinational company in connection with a joint DOJ and SEC
investigation of alleged violations of the Foreign Corrupt Practices Act. He also has
experience advising a large multinational company regarding third-party compliance and
internal anti-corruption compliance issues.
Felix Helmstädter is of counsel at the German office of Morrison & Foerster in Berlin.
He advises clients in the area of public commercial and regulatory law, in particular on all
matters of German and European public procurement law, state aid law, and sector-
specific regulatory law; foreign trade law, export control law, and EU sanctions law; and
antitrust and merger control law. Dr. Helmstädter has particular, industry-specific
expertise in the areas of transportation, technology, media, and telecommunications.
Another area of emphasis of his work lies in the health and energy sectors. He has years
of experience in providing strategic regulatory advice to companies, as well as
representing them in administrative litigation, civil litigation, and public procurement
disputes before national and European authorities and courts.
Dr. Felix Helmstädter Berlin