DLA Piper announced today that David J. Brummond has joined the firm’s Insurance and Reinsurance practice as of counsel in the Washington, DC, office. Brummond had previously served as senior sanctions advisor – insurance for the US Treasury Department’s Office of Foreign Assets Control (OFAC) from 2006 to 2014.
In this position at OFAC, Brummond assisted in the development of compliance policy for the insurance industry by providing counsel and guidance on insurance matters to OFAC as well as the Office of Undersecretary for Terrorism and Financial Intelligence, by assisting in the drafting of licenses for insurance transactions, and by serving as case officer for enforcement actions involving sanctions violations within the insurance sector. He also promoted understanding and awareness of OFAC sanctions programs through outreach activities to all segments of the insurance industry.
At DLA Piper, Brummond will provide strategic advice and guidance on international trade and economic sanctions issues implicating the insurance industry, as well as counseling and advocacy for insurance regulatory issues at state, federal and international forums. He will also advise on issues related to enforcement actions brought by OFAC and other US federal agencies for alleged violations of US sanctions.
“Dave’s knowledge of US, and international sanctions law and related compliance requirements across the industry will be a tremendous asset to our insurance and reinsurance clients who are seeking guidance in light of the increasing use of economic sanctions as a diplomatic tool and the heightened regulatory and enforcement actions by the US and other governments,” said Michael Murphy, global head of DLA Piper’s Insurance and Reinsurance practice.
“In addition to his unique expertise with economic sanctions, Dave has deep knowledge of the insurance industry and its regulatory environment. He will enhance our ability to advise clients on the increasingly complex and global nature of insurance regulatory issues facing the industry,” added Bill Marcoux, global head of DLA Piper’s insurance sector transactions and regulation practice. “Dave is well respected in the industry and within regulatory circles, and will be a great addition to the firm.”
“Dave’s unique insight into the US government's processes and sanctions programs will complement the firm's experience and capabilities in economic sanctions and international trade law,” said Ignacio Sanchez, co-chair of DLA Piper’s International Trade, Regulatory and Government Affairs practice.
Brummond previously served as legal counsel for the Terrorism Risk Insurance Program at the Treasury Department. Earlier in his career, he served as general counsel for the National Fraternal Congress of America, assistant vice president and assistant general counsel for the National Association of Independent Insurers, and acting staff director for the National Association of Insurance Commissioners, among other roles.
Brummond earned his J.D. from the University of Iowa and his B.A. from Marquette University.