Our Website Uses Cookies
We and the third parties that provide content, functionality, or business services on our website may use cookies to collect information about your browsing activities in order to provide you with more relevant content and promotional materials, on and off the website, and help us understand your interests and improve the website.
For more information, please contact us or consult our Privacy Notice.
Your binder contains too many pages, the maximum is 40.
We are unable to add this page to your binder, please try again later.
This page has been added to your binder.
David Lorello is of counsel in the firm’s London office and serves as a vice chair of the firm’s International Trade Controls Practice Group. Mr. Lorello advises clients concerning a range of international regulatory, white collar, and commercial matters under both European and U.S. laws. Mr. Lorello is recognized in the leading peer review publications for his work on trade controls and anti-corruption compliance and investigations matters, with Chambers Global describing Mr. Lorello as a “compliance authority” in those areas.
Anti-Corruption Compliance and Investigations
Mr. Lorello regularly assists clients in investigating anti-corruption compliance issues arising under the U.S. Foreign Corrupt Practices Act (FCPA), the UK Bribery Act and other related U.S., UK, and European anti-bribery and anti-money laundering laws. Mr. Lorello has particular experience in managing corporate investigations and developing anti-corruption compliance programs for companies operating in Europe, including coordinating advice concerning parallel risks under U.S. and European anti-corruption laws, advising clients concerning European criminal enforcement and debarment risks, and ensuring compliance with European data protection and workplace laws in the course of investigations and compliance matters.
Mr. Lorello also regularly represents clients before the World Bank, and other international financial institutions, in debarment proceedings concerning allegations of corrupt practices in connection with contracts financed by those institutions. In addition, Mr. Lorello advises clients concerning the commercial liability risks arising from corrupt practices, including private rights of action that may arise for parties that suffer losses as a result of corrupt practices.
Export Controls and Economic Sanctions
Mr. Lorello regularly represents clients before the major agencies responsible for export controls and economic sanctions laws and regulations, both in the United States and European Union. He has assisted clients in export and sanctions licensing and compliance issues with regard to a variety of industries and products, including encryption and other computer technologies, satellites, oil and gas products, military items, and other goods and technology controlled for export due to national security reasons. Mr. Lorello has extensive experience assisting clients in developing effective export compliance strategies, including preparing export license requests, voluntary self-disclosures and intra-company agreements as well as policies necessary to ensure export controls and economic sanctions compliance.
Mr. Lorello has particular experience in assisting clients in economic sanctions matters relating to the financial services industry. He has represented financial services clients in various matters before U.S. and EU Member State regulators, and he has worked with financial services clients in developing tailored internal controls focused on economic sanctions compliance.
Memberships and Affiliations
- American Bar Association, Member
October 14, 2020, Covington Alert
On October 8, 2020, the United States Treasury Department’s Office of Foreign Assets Control (“OFAC”) announced the imposition of comprehensive sanctions against 18 major Iranian banks. As part of the same action, the Treasury Department identified the “financial sector” of the Iranian economy as subject to sanctions under Executive Order No. 13902 (the ...
September 4, 2020, Covington Alert
It has been over twenty years since the OECD Anti-Bribery Convention came into force, over a decade since the enactment of the UK Bribery Act, and over three years since the passage of France’s Sapin II law. Alongside those ground-breaking developments have come a host of other measures across the Europe, Middle East, and Africa (“EMEA”) region to strengthen ...
July 10, 2020, Covington Alert
On 6 July 2020, the UK Government announced the creation of a new UK human rights sanctions regime, which is the first independent UK sanctions regime to be established under the Sanctions and Anti-Money Laundering Act 2018 (“SAMLA 2018”).
July 6, 2020, Covington Alert
On July 3, 2020, the U.S. Department of Justice’s (“DOJ” or the “Department”) Criminal Division and the U.S. Securities and Exchange Commission’s (“SEC”) Enforcement Division quietly released A Resource Guide to the U.S. Foreign Corrupt Practices Act, Second Edition (the “Second Edition”). The first edition of the Resource Guide (the “First Edition”) was ...
June 3, 2020, Covington Alert
On June 1, 2020, the U.S. Department of Justice (“DOJ” or the “Department”) Criminal Division released an updated version of its Evaluation of Corporate Compliance Programs document (the “Guidance”), which serves as a reference for prosecutors in assessing corporate compliance programs in the context of DOJ investigations. The Department last revised the ...
May 21, 2020, Covington Alert
In an effort to curtail access by China’s Huawei Technologies Co., Ltd. to products made using U.S. semiconductor software and technology, the Commerce Department’s Bureau of Industry and Security (“BIS”) on May 15, 2020, released an Interim Final Rule expanding and extending U.S. export controls jurisdiction to certain non-U.S. items when destined for Huawei or ...
April 29, 2020, Covington Alert
On April 28, 2020, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) published two final rules and one proposed rule to modify certain license exceptions and definitions in the Export Administration Regulations (“EAR”) (15 CFR Parts 730 – 774), based on concern that sensitive products and technologies were being diverted to military uses ...
April 10, 2020, Covington Alert
On 18 February 2020, the UK Economic Secretary to the Treasury upheld a decision on the part of HM Treasury to impose monetary penalties against Standard Chartered Bank, for breaches of the EU-Russia sanctions and associated UK implementing legislation.
March 20, 2020, Covington Alert
In recent days, both the EU and certain EU Member States have imposed new export licensing requirements on the export of certain types of medical equipment and medicines, in light of the COVID-19 outbreak. We summarize those measures below. The new measures are relevant for any companies who may export medical equipment or medicines from the EU or the United ...
January 31, 2020, Covington Alert
This evening, at 11:00 p.m. GMT, the UK will leave the European Union. Brexit day marks a beginning, not an end. The UK today embarks on a complex process of negotiating new arrangements for trade and cooperation with the EU and partners around the world. Regulatory divergence seems inevitable, given that the UK will want to make its own decisions on existing ...
January 30, 2020, Covington Alert
It has been another strong year in anti-corruption enforcement, with 2019 meeting or beating the high-water mark for enforcement across a number of measurements.
January 15, 2020, Covington Alert
On January 10, 2020, President Trump issued a new Executive Order (“January 10 Executive Order”) that provides authority for the imposition of sanctions with respect to certain additional sectors of Iran’s economy, including Iran’s construction, mining, manufacturing, and textiles sectors. The January 10 Executive Order introduces both property-blocking ...
August 23, 2019, Covington Alert
The Serious Fraud Office (SFO) released its much-anticipated cooperation guidance on August 6, 2019. The five-page document sets out the steps an organization can take to assist the SFO in an investigation and thereby maximise the organization’s chances of avoiding prosecution. The publication represents a welcome change in direction on the part of the SFO, ...
Economic Sanctions Update for the Airline Industry
March 7, 2019, IATA Symposium 2019
Q1 2019, Covington Alert
It was business as usual for FCPA enforcement in 2018. The U.S. Department of Justice (“DOJ”) and the U.S. Securities and Exchange Commission (“SEC”) collected a total of $1 billion from seventeen corporate defendants, including through their share of two high-value, multi-jurisdictional enforcement actions. DOJ also announced thirteen new FCPA prosecutions ...
Winter 2019, Covington Alert
It was business as usual for FCPA enforcement in 2018. The U.S. Department of Justice (“DOJ”) and the U.S. Securities and Exchange Commission (“SEC”) collected a total of $1 billion from seventeen corporate defendants, including through their share of two high-value, multi-jurisdictional enforcement actions. DOJ also announced thirteen new FCPA prosecutions ...
August 8, 2018, Covington Alert
On August 6, 2018, President Trump issued Executive Order 13846 (the “Executive Order”) that re-imposes -- and to a limited extent broadens the scope of -- certain U.S. secondary sanctions targeting Iran that had been suspended in January 2016 pursuant to the Joint Comprehensive Plan of Action (“JCPOA”) with Iran.
June 15, 2018, Covington Alert
As described in our May 9, 2018, alert, the United States determined on May 8, 2018, to end its participation in the Joint Comprehensive Plan of Action (“JCPOA”) and re-impose sanctions against Iran that had been suspended as part of this 2015 nuclear agreement between the United States, Iran, Germany, France, the UK, and China.
May 15, 2018, Covington Alert
On May 8, 2018, the United States announced the decision to end its participation in the Joint Comprehensive Plan of Action (“JCPOA”) and re-impose sanctions against Iran that had been suspended as part of this 2015 nuclear agreement between the United States, Iran, Germany, France, the UK and China.
May 9, 2018, Covington Alert
On May 8, 2018, President Trump announced his decision to end U.S. participation in the Joint Comprehensive Plan of Action (“JCPOA”) and re-impose sanctions against Iran that had been suspended as part of this 2015 nuclear agreement between the United States, Iran, and certain other governments. This action will have far-reaching effects for both U.S. and ...
May 9, 2018, Covington Alert
On May 8, 2018, President Trump announced his decision to end U.S. participation in the Joint Comprehensive Plan of Action (“JCPOA”) and re-impose sanctions against Iran that had been suspended as part of this 2015 nuclear agreement between the United States, Iran, and certain other governments. This action will have far-reaching effects for both U.S. and ...
January 25, 2018, Covington Advisory
Our message this year is simple: FCPA enforcement is here to stay. Despite pre-election statements to the contrary, various senior officials in the U.S. Department of Justice (“DOJ”) and U.S. Securities and Exchange Commission (“SEC”) have, over the past year, consistently reaffirmed DOJ’s and the SEC’s commitment to FCPA enforcement.
December 13, 2017, Covington Alert
During his keynote speech at the 34th International Conference on the Foreign Corrupt Practices Act (“FCPA”), U.S. Deputy Attorney General Rod J. Rosenstein announced a new FCPA Corporate Enforcement Policy (the “Policy”), which is now incorporated in the United States Attorneys’ Manual (“USAM”).
Global Sanctions Perspectives: Update on EU Sanctions Rules and Why US Industry and Financial Institutions Need to Stay Abreast of Latest Developments
December 5, 2017, 8th Annual New York Forum on Economic Sanctions
Experiences from Practice, Including Non-Prosecution Agreements
November 20, 2017, The Hague Academy of International Law Advanced Course on International Criminal Law
International Law and Economic Crime: Trends and Challenges
November 20, 2017, The Hague Academy of International Law Advanced Course on International Criminal Law
UK Imposes New Sanctions Disclosure Obligation on Legal Professionals, Certain Other Businesses
August 7, 2017, Covington Alert
On July 18, 2017, the UK published a new statutory instrument, The European Union Financial Sanctions (Amendment of Information Provisions) Regulation 2017 (S.I. 2017/754) (hereinafter, the “AIP Regulation”). The Regulation comes into force on August 8, 2017.
February 3, 2017, Global Investigations Review
Ian Hargreaves and David Lorello are quoted in a Global Investigations Review article regarding Hargreaves’ recent arrival to Covington. According to Hargreaves, the firm’s “pre-eminence in dispute resolution, and its immense strength and global recognition as a market-leader in white-collar crime matters and investigations” fueled his decision. Lorello says, ...
January 31, 2017
LONDON—Ian Hargreaves has joined Covington as a partner in the firm’s European Dispute Resolution practice resident in London. Mr. Hargreaves’ arrival follows that of litigation partners Craig Pollack, Greg Lascelles, Elaine Whiteford, and Louise Freeman over the past six months. Mr. Hargreaves advises on major European white collar and related civil and ...
Financial Crime Compliance
July 12, 2016, Economic Sanctions and Financial Crime Conference
Regulatory Change Slow and Slight in Case of Brexit
June 22, 2016, The Wall Street Journal
David Lorello is quoted in a Wall Street Journal article regarding the possible regulatory changes that may come as a result of Brexit. According to Lorello, commenting on potential changes to the sanctions regime, “If the UK leaves the EU, it may no longer be required to implement those sanctions, but it all depends on how Brexit would be negotiated.”
May 26, 2016, The Wall Street Journal
David Lorello is quoted in a Wall Street Journal article regarding a recent call to review the UK Serious Fraud Office’s (SFO) funding model after increased scrutiny of the SFO’s governance structure. According to Lorello, “The blockbuster funding has been a matter of significant public attention for some years now." He continues, “As with many government ...
Revamping Sanctions Compliance: Effective Strategies for Managing Complex Global Changes
May 25, 2016, ACAMS 12th Annual AML & Financial Crime Conference
Sanctions compliance 2016 – addressing the dynamic challenge
March 14, 2016, 12th Annual AML & Financial Crime Seminar – Roundtable Masterclass
FORUM: Fraud and corruption investigations in multilateral development banks
January 11, 2016, Financier Worldwide
The regulators’ views: practical issues for European exportcontrols
November 20, 2015, 28th Annual Global Trade Controls & Compliance Conference
Export Controls Reform
September 14, 2015, UK-Canada-Australia-U.S. Quadrilateral Conference
Developments in Sanctions
June 1, 2015, Global Trade & Regulatory Compliance Summit
May 19, 2015, Global Anti-corruption & Compliance in Mining
Focus on Iran from Both the US and EU Perspectives: What is the Impact of the Extension of the Iran Sanctions Restrictions
April 29, 2015, 8th Advanced Forum on Economic Sanctions
International regulations on trade sanctions and anticorruption jurisdiction and liability for the parent company
February 26, 2015, Anti-Corruption & Compliance Seminar
UK issues proposed rule to implement EU extractive and logging industry reporting requirements
December 2014, White Collar Crime
Bruce Bennett and David Lorello have authored an article on draft legislation in the U.K. titled “Reports on Payments to Governments Regulations 2014,” that would require mining, quarrying and logging companies registered in the U.K. to report payments they make to governments in all countries where they operate.
Sanctions and Judicial Proceedings in Third States
November 7, 2014, Kiev Arbitration Days 2014: Think Big!
Violations, Penalties, and Administrative Procedures," "The Expert License" and "Technical Data
11/4/2014-11/5/2014, U.S. Export Controls Under the Ear (The Essentials) Workshop and Export Controls & Licensing Under the Ear Workshop
Practicalities of Complying with Sanctions Against Russian Sanctioned Parties and other SDNs
October 9, 2014, Economic Sanctions & Financial Crime Forum - For the Financial and Insurance Industries
UK Issues Proposed Rule to Implement EU Extractive and Logging Industry Reporting Requirements
October 1, 2014, Covington E-Alert
September 13, 2014, Covington E-Alert
Four more months – measured sanctions relief for Iran
September 2014, Money Laundering Bulletin
Peter Flanagan and David Lorello have co-authored this piece on US and EU sanctions targeting Iran: "On 19 July 2014, the United States, the United Kingdom, Germany, France, Russia, and China (the “P5+1”) and Iran mutually consented to extend the Joint Plan of Action (JPOA), reached by the parties on 24 November 2013, for an additional four-month period, to 24 ...
August 12, 2014, Money Laundering Bulletin
August 12, 2014, Covington E-Alert
August 7, 2014, Covington E-Alert
July 23, 2014, Covington E-Alert
Rise of Client Cases Against Financial Institutions: How to Safeguard your Company from Potential Law Suits
June 12, 2014, C5 8th Advanced Forum on Economic Sanctions
Evolving Legal Compliance Risks in Russia and Iran
May 14, 2014, Breakbulk Europe 2014
May 1, 2014
LONDON, 1 May, 2014 — Covington & Burling advised Lombard Medical, Inc. on its $55 million U.S. initial public offering and the listing of the company’s ordinary shares on the NASDAQ Global Market. Covington also advised the company on its change of domicile from the U.K. to the Cayman Islands and the delisting of its shares from the AIM market of the London ...
April 15, 2014, Covington E-Alert
Connecting Investor Initiatives
April 11, 2014, World Forum on Governance: Leveraging Private Capital and Political Action in the Fight Against Corruption
Promoting Best Practices in the Private Sector
April 10, 2014, World Forum on Governance: Leveraging Private Capital and Political Action in the Fight Against Corruption
March 21, 2014, Covington E-Alert
United States and European Union Impose Additional Sanctions in Response to the Crisis in Ukraine
March 18, 2014, Covington E-Alert
March 6, 2014, Covington E-Alert
Accurate Books and Records: How to Devise and Maintain an Adequate System of Internal Accounting Controls
January 28, 2014, 7th Advanced Forum on Anti-Corruption
Reducing the Risk of Data Transfers and Deemed Exports/Re-exports
January 22, 2014, 5th Advanced Forum on ITAR Compliance for European Operations
December 16, 2013, Covington E-Alert
November 2013, PLC Guide to Corporate Crime, Fraud and Investigations
Compliance With Multiple Economic Sanctions Regimes
October 21, 2013, Workshop, Annual European Financial Crime Conference, London
Non-compliance in a global market
October 3, 2013, Defence Exports conference, Amsterdam
Competitive Advantage: Attracting Investment through Strong Rule of Law
July 11, 2013, The World Justice Forum
Minimising Corruption and Bribery Risk Exposure in Joint-Ventures: How to Achieve the Right Level of Control and Supervision
June 25, 2013, C5 Anti-Corruption London
International Economic Sanctions
June 24, 2013, Lexis Nexis Financial Crime and Anti-Money Laundering Conference, London
June 19, 2013, Covington Advisory
Overview of International Anti-Corruption Laws that have Application in Ukraine and Enforcement Risk
May 21, 2013, Compliance - Global Best Practices and Ukrainian Experience
May 3, 2013, Covington E-Alert
Multi-Nationals’ Perspective on Meeting the Terms of Foreign and Dual National Requirements under the EAR Whilst Following EU Privacy and Anti-Discrimination Laws
April 17, 2013, C5 Forum on Export Controls in Brussels
Export Controls and ITAR Round Table: Complying in an Evolving Regulatory Environment
January 23, 2013, C5 ITAR Compliance for European Operations, London
October 19, 2012, Covington E-Alert
July 26, 2012, Covington E-Alert
Covington & Burling Partner Lorello on Importing Deferred Prosecutions into the United Kingdom
June 25, 2012, Corporate Crime Reporter
David Lorello was interviewed for this article discussing the UK deferred prosecution agreement process.
May 16, 2012
LONDON, 16 May, 2012 — Covington & Burling is strengthening its anti-corruption and trade control practices by adding lawyer David Lorello as a partner in its London office. Mr. Lorello is a US lawyer, and has been practicing in London for the last five years, with a broad practice spanning US, UK, and European international regulatory issues. This is ...
Foreign Corrupt Practices Act (FCPA)
October 24, 2011, Federal Publications Seminars
Audits, Investigations and Enforcements: How to Prepare in Order to Tackle Even the Most Difficult Challenges
September 28, 2011, C5’s 2nd Annual Forum on European Export Controls
Preparing for Multi-Jurisdictional Government Investigations and Other Complex Legal Issues Arising from Cross-Border Cooperation Among Enforcement Agencies
June 28, 2011, C5's 11th European Forum Anti-Corruption Conference
Avoiding the Risks of Facilitating Sanctioned Transactions and Other Indirect Sanctions
May 27, 2011, 5th European Forum on Economic Sanctions
- Chambers UK, Financial Crime: Corporates (2017)
- Chambers Global, International Trade/WTO (2014, 2016-2018) and Corporate Investigations - Anti-Corruption (2015)
- Chambers Europe, International Trade (2017-2018) and Corporate Investigations (2014-2017)
- Legal 500 UK
- Corporate Crime (2014-2016)
- Corporate and Commercial: Trade, WTO, Anti-dumping, Customs (2016-2017)
- Fraud - Civil (2012)
- Public International Law (2011)
- World ECR - ‘Highly Commended’ for Export Controls Law Firm of the Year (Europe) (2015)
COVID-19: Legal and Business Toolkit
We are helping clients around the world navigate this evolving, complex situation.
Practices
Education
Columbia Law School, J.D., 1999
- Harlan Fiske Stone Scholar
- Columbia Human Rights Law Review, Articles Editor
Rutgers College, B.A., 1996
- high honors