Elliot Letts

Associate, Steptoe International (UK) LLP

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Areas of Work

International Arbitration, Anti-Money Laundering, Economic Sanctions, Blockchain & Cryptocurrency

Overview

Elliot Letts counsels financial institutions, multinational corporations, and high-net-worth individuals on a variety of international regulatory, criminal and compliance matters. He regularly advises clients on issues related to anti-money laundering (AML), economic sanctions, export controls, and anti-corruption. His experience includes conducting cross-border investigations, obtaining licenses from HM Treasury's the Office of Financial Sanctions Implementation (OFSI), conducting risk assessments, conducting internal investigations, and representing individuals and companies seeking removal from the UK Sanctions List and the US Department of the Treasury's Office of Foreign Assets Control's (OFAC) Specially Designated Nationals and Blocked Persons List (SDN List).

Elliot's practice also includes international disputes, with a particular focus on representing clients in complex, high-value civil fraud cases, enforcement actions, and cross-border commercial disputes. In addition, Elliot represents some of the world’s largest and most innovative FinTech companies, including entities focused on payments, blockchain and cryptocurrency, Web3 and decentralized finance (DeFi).

Elliot's recent experience involves assisting one of the world’s biggest multinational investment funds in developing effective financial crime compliance strategies, including establishing internal policies and procedures, for its portfolio of companies worth $100 billion. He also acted for DeFi platforms in understanding the scope and regulatory requirements of UK AML legislation.

Solicitor, England & Wales

L.P.C., University of Law
G.D.L., City University London
B.A. (Hons), University of Kent, Criminology

Areas of Work

Representative Matters

Advised DeFi platforms in understanding the scope and regulatory requirements of UK AML legislation.
Drafted and implemented AML and economic sanctions compliance programs for a variety of AI-based technology companies.
Assisted a major European bank in understanding the scope and regulatory requirements of UK AML legislation.
Assisted clients in seeking removal from sanctions and restrictive trade lists maintained by OFSI and OFAC.
Acted for high net worth individuals in connection with the coordination and initiation of parallel civil, extradition, and arbitration proceedings in multiple jurisdictions.
Acted for a major bank in South East Asia in relation to a regulatory investigation arising from alleged violations of US sanctions and export controls.
Assisted internal investigations related to potential sanctions and export controls violations of OFAC sanctions programs.
Advised on successful launch of multiple DeFi and Web3 platforms.