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S. HRG. 115–26 

NOMINATIONS OF SIGAL P. MANDELKER, 

MIRA RADIELOVIC RICARDEL, MARSHALL 

BILLINGSLEA, AND HEATH P. TARBERT 

HEARING 

BEFORE THE

COMMITTEE ON 

BANKING, HOUSING, AND URBAN AFFAIRS 

UNITED STATES SENATE 

ONE HUNDRED FIFTEENTH CONGRESS 

FIRST SESSION 

ON 

NOMINATIONS OF: 

SIGAL P. MANDELKER, OF NEW YORK, TO BE UNDER SECRETARY FOR

TERRORISM AND FINANCIAL INTELLIGENCE, DEPARTMENT OF THE TREASURY

MIRA RADIELOVIC RICARDEL, OF CALIFORNIA, TO BE UNDER SECRETARY FOR

EXPORT ADMINISTRATION, DEPARTMENT OF COMMERCE

MARSHALL BILLINGSLEA, OF VIRGINIA, TO BE ASSISTANT SECRETARY FOR

TERRORIST FINANCING, DEPARTMENT OF THE TREASURY

HEATH P. TARBERT, OF MARYLAND, TO BE ASSISTANT SECRETARY, 

INTERNATIONAL MARKETS AND DEVELOPMENT, DEPARTMENT OF THE

TREASURY

MAY 16, 2017 

Printed for the use of the Committee on Banking, Housing, and Urban Affairs 

( 

Available at: http://www.fdsys.gov/ 

COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS 

MIKE CRAPO, Idaho, Chairman 

RICHARD C. SHELBY, Alabama 

BOB CORKER, Tennessee 

PATRICK J. TOOMEY, Pennsylvania 

DEAN HELLER, Nevada 

TIM SCOTT, South Carolina 

BEN SASSE, Nebraska 

TOM COTTON, Arkansas 

MIKE ROUNDS, South Dakota 

DAVID PERDUE, Georgia 

THOM TILLIS, North Carolina 

JOHN KENNEDY, Louisiana 

SHERROD BROWN, Ohio 

JACK REED, Rhode Island 

ROBERT MENENDEZ, New Jersey 

JON TESTER, Montana 

MARK R. WARNER, Virginia 

ELIZABETH WARREN, Massachusetts 

HEIDI HEITKAMP, North Dakota 

JOE DONNELLY, Indiana 

BRIAN SCHATZ, Hawaii 

CHRIS VAN HOLLEN, Maryland 

CATHERINE CORTEZ MASTO, Nevada 

GREGG RICHARD, Staff Director 

MARK POWDEN, Democratic Staff Director 

ELAD ROISMAN, Chief Counsel 

JOHN O’HARA, Chief Counsel for National Security Policy 

KRISTINE JOHNSON, Professional Staff Member 

GRAHAM STEELE, Democratic Chief Counsel 

LAURA SWANSON, Democratic Deputy Staff Director 

COLIN MCGINNIS, Democratic Policy Director 

DAWN RATLIFF, Chief Clerk 

CAMERON RICKER, Hearing Clerk 

SHELVIN SIMMONS, IT Director 

JIM CROWELL, Editor 

(II)

C O N T E N T S 

TUESDAY, MAY 16, 2017 

Page 

Opening statement of Chairman Crapo ................................................................. 1 

Opening statements, comments, or prepared statements of: 

Senator Brown .................................................................................................. 3 

NOMINEES 

Sigal P. Mandelker, of New York, to be Under Secretary for Terrorism and 

Financial Intelligence, Department of the Treasury ......................................... 5 

Prepared statement .......................................................................................... 37 

Biographical sketch of nominee ....................................................................... 39 

Responses to written questions of: 

Senator Corker .......................................................................................... 84 

Senator Toomey ......................................................................................... 85 

Senator Sasse ............................................................................................ 86 

Senator Menendez ..................................................................................... 88 

Senator Warren ......................................................................................... 89 

Senator Donnelly ....................................................................................... 92 

Mira Radielovic Ricardel, of California, to be Under Secretary for Export 

Administration, Department of Commerce ........................................................ 7 

Prepared statement .......................................................................................... 52 

Biographical sketch of nominee ....................................................................... 53 

Responses to written questions of: 

Chairman Crapo ........................................................................................ 93 

Senator Sasse ............................................................................................ 94 

Senator Perdue .......................................................................................... 94 

Senator Warren ......................................................................................... 95 

Senator Donnelly ....................................................................................... 96 

Marshall Billingslea, of Virginia, to be Assistant Secretary for Terrorist Financing, Department of the Treasury ................................................................ 8 

Prepared statement .......................................................................................... 60 

Biographical sketch of nominee ....................................................................... 62 

Responses to written questions of: 

Senator Sasse ............................................................................................ 96 

Senator Warren ......................................................................................... 98 

Heath P. Tarbert, of Maryland, to be Assistant Secretary, International Markets and Development, Department of the Treasury ........................................ 10 

Prepared statement .......................................................................................... 70 

Biographical sketch of nominee ....................................................................... 71 

Responses to written questions of: 

Senator Brown ........................................................................................... 101 

Senator Warren ......................................................................................... 101 

Senator Donnelly ....................................................................................... 102 

ADDITIONAL MATERIAL SUPPLIED FOR THE RECORD

Letters submitted in support of the nomination of Sigal P. Mandelker ............. 104 

Letters submitted in support of the nomination of Mira Radielovic Ricardel .... 114 

Letter submitted in support of the nomination of Marshall Billingslea ............. 116 

(III)

(1) 

NOMINATIONS OF SIGAL P. MANDELKER, OF 

NEW YORK, TO BE UNDER SECRETARY FOR 

TERRORISM AND FINANCIAL INTELLIGENCE, DEPARTMENT OF THE TREASURY; 

MIRA RADIELOVIC RICARDEL, OF CALIFORNIA, TO BE UNDER SECRETARY FOR EXPORT ADMINISTRATION, DEPARTMENT OF 

COMMERCE; MARSHALL BILLINGSLEA, OF 

VIRGINIA, TO BE ASSISTANT SECRETARY 

FOR TERRORIST FINANCING, DEPARTMENT 

OF THE TREASURY; HEATH P. TARBERT, OF 

MARYLAND, TO BE ASSISTANT SECRETARY, 

INTERNATIONAL MARKETS AND DEVELOPMENT, DEPARTMENT OF THE TREASURY 

TUESDAY, MAY 16, 2017 

U.S. SENATE, 

COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS, 

Washington, DC. 

The Committee met at 10:03 a.m., in room SD–538, Dirksen Senate Office Building, Hon. Mike Crapo, Chairman of the Committee, 

presiding. 

OPENING STATEMENT OF CHAIRMAN MIKE CRAPO 

Chairman CRAPO. This hearing will come to order. 

Congratulations to all of you on your nominations to these very 

important offices. I see friends and family behind you, and I welcome all of you here as well. 

This morning, we are going to consider four nominations: 

First, Ms. Sigal Mandelker. She is to be the Under Secretary of 

the Treasury for Terrorism and Financial Crimes. 

Second, Ms. Mira Ricardel. Did I get that right, Ricardel? 

Ms. RICARDEL. Yes, sir. Thank you. 

Chairman CRAPO. Thank you. To be Under Secretary of Commerce for Export Administration. 

Third, Mr. Marshall Billingslea, to be Assistant Secretary of 

Treasury for Terrorist Financing. 

And, finally, Mr. Heath Tarbert, to be Assistant Secretary of the 

Treasury for International Markets and Development. 

Again, welcome to all of you. 

2 

Considering the nature of these nominations, especially in a time 

of heightened security in the international arena, we need to work 

together to process your nominations quickly. 

All four of these highly qualified nominees have extensive national security experience from their years spent in Government, 

supplemented by an understanding of the practicalities and specific 

commerce and finance requirements honed in the private sector. 

Ms. Mandelker’s experience in senior law enforcement and national security positions equip her with the judgment necessary as 

Under Secretary to lead Treasury’s Office of Terrorism and Financial Intelligence, the TFI, where she would oversee sanctions policy 

on Iran, Russia, North Korea, Syria, and some 25 other programs, 

including narcotraffickers, nuclear proliferators, and the like. Ms. 

Mandelker would also lead on the Nation’s anti-money laundering 

efforts and other illicit financial threats. 

As Assistant Secretary, Mr. Billingslea would work with Ms. 

Mandelker to coordinate all elements of the national security and 

law enforcement community to develop and execute TFI policies 

and to conduct outreach strategies to address threats to the domestic and international financial system. Mr. Billingslea has worked 

jointly with Treasury elements in the past while he served in senior defense positions. This experience puts him in an excellent position to leverage these and other such relationships in the future. 

Mr. Tarbert has an in-depth knowledge of both international and 

domestic financial markets. He will be a great representative for 

the United States in international discussions on matters of financial services regulation and open investment. If confirmed, he will 

manage Treasury regulations affecting financial institutions, including systemic risk designations. He will also coordinate Treasury initiatives on financial education and overseeing the Terrorism 

Risk Insurance Program. And as if that were not enough, a critical 

part of Mr. Tarbert’s job, and the reason for which his position was 

created by legislation passed in this Committee, is to marshal the 

procedures and processes of the multi-agency, Treasury-led Committee on Foreign Investment in the United States, or what we call 

‘‘CFIUS’’, in a timely manner to protect our Nation from hostile foreign investment transactions designed to undermine the national 

security interests of the United States. 

Ms. Ricardel has extensive Government and private sector leadership experience in the national security arena necessary to lead 

the Commerce Department’s Bureau of Industry and Security. The 

core mission of BIS is to ensure that sensitive dual-use items do 

not find their way into the hands of dangerous countries, organizations, and individuals in such a manner that still ensures the 

United States retains its innovative and productive capacity. Every 

decision will call for a national security, foreign policy, and fundamental business decision affecting the bottom line of companies, 

U.S. exports, and American jobs. 

All four of these positions are important to maintaining critical 

United States law enforcement and national security interests, 

while also preserving vibrant financial markets and cross-border 

transactions that can contribute greatly to the economic growth of 

the United States. 

3 

While many people may not have heard of the exact positions to 

which each of you have been nominated, these are critical and sensitive national security positions within the United States financial 

system. 

Some have argued that candidates for such positions must be 

able to balance these security interests with supporting an environment for flexible and open financial and commercial transactions. 

The United States is not in the business of balancing its national 

security interests against anyone or anything; it assures them. 

In that context, you are also charged with preserving the integrity of a uniquely American financial and commercial environment 

respected the world over for its access and its certainty. 

None of the candidates here will ever wake up in the morning 

asking themselves why they are going to work. There is too much 

at stake in the perennial war on terror and in protecting our national interests. 

Thank you very much for accepting these difficult challenges and 

for your service to our country. I urge my colleagues to confirm you 

without delay. 

At this time I would like to ask unanimous consent to enter into 

the record six letters in support of the nominees. Without objection. 

Senator Brown. 

STATEMENT OF SENATOR SHERROD BROWN 

Senator BROWN. Thank you, Mr. Chairman. 

Today the Banking Committee is meeting to do something it 

rarely or never did over the last 2 years: to assess the qualifications of four nominees that the President has put forward for key 

national security roles in the Treasury and Commerce Departments. These include: 

Ms. Sigal Mandelker, to be Treasury Under Secretary for Terrorism and Financial Crimes. Welcome. 

Mr. Marshall Billingslea, to serve as Treasury Assistant Secretary for Terrorist Financing. Welcome to you. 

Mr. Heath Tarbert, to be Treasury Assistant Secretary for International Markets. Welcome, Mr. Tarbert. 

And Ms. Mira Ricardel, to serve as Commerce Under Secretary 

for Export Administration. Welcome to the Committee. 

As you will introduce them, Mr. Chairman, I will not spend more 

time on their distinguished backgrounds. I will join you in thanking the nominees for their willingness to serve and in welcoming 

them and their family members to our Committee. I am pleased we 

appear to be returning to the Banking Committee’s long tradition 

of giving Administration appointees full, fair, and prompt consideration. For the last 2 years, this Committee slow-walked, and more 

precisely in many cases stonewalled, the President’s nominations 

for key positions in our jurisdiction. Perhaps the most reprehensible was Adam Szubin, who testified before one of our Subcommittees last week. He was denied a Committee vote for many months, 

then was never considered by the Senate—all this despite broad bipartisan support for him and the superb work he did in the terrorism and illicit finance arena at Treasury for many years. This 

Committee’s dereliction of duty during that period was reprehensible. 

4 

Considering the volatile situations in North Korea and Syria and 

Iran, and with non-State actors like ISIS, I am all for getting these 

important national security nominees in place. How fast we do so 

likely depends in part on how quickly Treasury satisfies a bipartisan request for certain financial information on the Russia investigation by the Intelligence Committee. I share Senator Warner’s 

views on this. I hope that information is provided without further 

delay. 

As Under Secretary for Terrorism and Financial Crimes, Ms. 

Mandelker would oversee the Office of Terrorism and Financial Intelligence. With 700 employees, this office marshals Treasury’s intelligence and enforcement functions. Its twin aims are to safeguard the financial system against illicit use and to combat threats 

from rogue Nations, terrorist facilitators, weapons of mass destruction proliferators, money launderers, and drug kingpins. It is also 

perhaps the most important role in the U.S. Government to ensure 

that economic measures like sanctions are applied effectively 

against our adversaries. 

Mr. Billingslea’s role alongside Ms. Mandelker will also be critical. He has been selected for a position as the head of a unit that 

does outreach across all elements of the national security community, including law enforcement, regulatory, policy, diplomatic, and 

intelligence communities, and with the private sector and foreign 

Governments to identify and address illicit finance threats within 

the international finance system. 

Mr. Tarbert has been nominated to be Treasury Assistant Secretary for International Markets and Development. If confirmed, he 

would be responsible for leading Treasury’s efforts related to the 

Committee on Foreign Investment in the United States, CFIUS, as 

well as international financial services regulation, trade, development, technical assistance, and climate finance. CFIUS continues 

to play a vital role reviewing foreign investments that could threaten our national security. We should be concerned when investments come from entities with ties to the Chinese Government and 

State-owned enterprises. We have already seen attempts by foreign 

entities to acquire businesses and real estate of senior Administration officials. 

In addition, after the financial crisis, as economies around the 

world continue to recover, it is essential that Treasury engage with 

our international counterparts to conduct strong financial services 

oversight. I expect the U.S. will continue to pursue strong rules 

and not support a race to the bottom that put the world’s financial 

institutions at risk. 

Finally, as Under Secretary for Export Administration, Ms. 

Ricardel would oversee the Commerce Department’s Bureau of Industry and Security. BIS is a licensing, regulatory, and enforcement agency that works to ensure an effective export control and 

treaty compliance system and promotes U.S. technology leadership 

and a strong industrial base. 

Again, I welcome the nominees to the Committee. I look forward 

to hearing from them. Thank you. 

Chairman CRAPO. Thank you very much, Senator Brown. 

And with that, I need to administer an oath, so would each of 

you please stand and raise your right hand? Do you swear or affirm 

5 

that the testimony you are about to give is the truth, the whole 

truth, and nothing but the truth, so help you God? 

Ms. MANDELKER. I do. 

Ms. RICARDEL. I do. 

Mr. BILLINGSLEA. I do. 

Mr. TARBERT. I do. 

Chairman CRAPO. And do you agree to appear and testify before 

any duly constituted Committee of the senate? 

Ms. MANDELKER. I do. 

Ms. RICARDEL. I do. 

Mr. BILLINGSLEA. I do. 

Mr. TARBERT. I do. 

Chairman CRAPO. Thank you. You may take your seats. 

Your written statements will each be made a part of the record, 

and as I believe you have been informed, I ask you to try to keep 

your oral comments today to 5 minutes. We have a lot of Senators, 

who I also remind to keep their questioning to 5 minutes. 

And before you begin your statements—we will go in the order 

that you are seated. Before you begin your statements, you are welcome to introduce anyone of your family who is here, if you would 

like, and we will start with you, Ms. Mandelker. 

Ms. MANDELKER. Thank you, Chairman. I have a number of people here, my brother, my father, and my niece. 

Chairman CRAPO. Thank you very much. We welcome you here. 

You have got to be very proud. 

Please proceed. 

Ms. RICARDEL. Thank you, Mr. Chairman. I am honored to introduce my husband, Vincent; my mother, Brigitta; my brother and 

sister-in-law, and my aunt and uncle. And I am so honored to have 

their love and support and have them here today. Thank you. 

Chairman CRAPO. Thank you. 

Mr. Billingslea. 

Mr. BILLINGSLEA. Thank you, Chairman. I am joined by my wife, 

Karen, and my youngest daughter, Elsa, and my oldest daughter, 

Morgan; and my sister, who is in the very back. 

Chairman CRAPO. Thank you. 

Mr. Tarbert. 

Mr. TARBERT. Thank you, Mr. Chairman. I am joined by my wife, 

Kate; my 5-year-old son, Ben; my mother, Pat Tarbert; my brother, 

Colin Tarbert; and my sister-in-law, Bonnie Tarbert. 

Chairman CRAPO. Well, thank you. And you are each honored by 

your family who are here to support you, and I know that they, as 

I just indicated, are all very proud of you. We appreciate, again, 

your willingness to be of service to your country. 

Let us start with the testimony then, and, Ms. Mandelker, please 

proceed. 

STATEMENT OF SIGAL P. MANDELKER, OF NEW YORK, TO BE 

UNDER SECRETARY FOR TERRORISM AND FINANCIAL INTELLIGENCE, DEPARTMENT OF THE TREASURY 

Ms. MANDELKER. Thank you very much. Thank you, Chairman 

Crapo, Ranking Member Brown, and Members of the Committee. 

It is a great honor to appear before you as the President’s nominee 

to lead the Office of Terrorism and Financial Intelligence. I want 

6 

to thank the President and the Secretary for their trust and confidence in me. I have had the opportunity to meet with so many 

of you over the last few weeks, and I want to thank you for the 

courtesies that you have shown me. And I also look forward to 

working very closely with this Committee if I am honored to be 

confirmed. 

I also want to say I am very grateful for the tremendous support 

of my family and friends, including those who traveled to attend 

this hearing. I want to recognize in particular two of my heroes 

and constant sources of inspiration: my father, Gershon Mandelker, 

who is here today, and my wonderfully lovely mother who passed 

away 12 years ago. Both of them were Holocaust survivors who 

spent part of their childhood hiding underground, in the forest, and 

elsewhere in constant fear for their lives as they tried to escape the 

Nazis. My dad tells one story about how he was hiding in a barn. 

The head of a village, a very courageous man, had agreed to hide 

my dad, my grandfather, and several others. And as they were hiding, a group of soldiers came to the barn because they wanted to 

see whether or not that was a good place to park their guns and 

their horses. And so my dad hid under a haystack, and he very distinctly remembers the soldiers coming in, walking around, looking, 

and then ultimately decided that that is not where they were going 

to put their horses. But he has a vivid memory of watching the 

boots of one of those soldiers. If my dad had so much as sneezed 

in that moment, I can assure you I would not be here today, and 

my dad would not be here proudly sitting beside me. 

I grew up hearing about these stories of my parents, their stories 

of survival and how they narrowly avoided death. Unfortunately, 

many members of my family did not survive. Three of my grandparents who were either killed or died as a result of the Holocaust. 

But I can say that with this history, my parents not only survived, 

but they went on to pursue successful careers in Pittsburgh. They 

gave us a very normal life, and they were incredibly positive role 

models. They raised my brother and me with enormous love and 

a deep appreciation for the opportunities that our great Nation provides and the knowledge that we should never take for granted our 

safety, security, and our freedom. I carry this legacy, which is an 

important one, with me always, and as I have told some of you, it 

is really what has motivated me to public service, for I think that 

the opportunity to make a difference is incredibly humbling, especially when we consider the kinds of threats that we face today. 

After 9/11, like so many other Americans, I wanted nothing more 

than to contribute to the response to this terrible attack on our Nation. After finishing my clerkship on the Supreme Court, I immediately went to work for the Justice Department in August of 2002, 

where I joined in its counterterrorism and national security mission in positions in both the Criminal Division and later the Deputy Attorney General’s Office. With the Nation on high alert for follow-on attacks, I was privileged to work as part of the dedicated 

team that oversaw all of the country’s counterterrorism and national security criminal cases, including those involving the illicit 

financing of terrorism. 

Among other positions that I held in the Government, I was also 

a counselor to the Secretary of Homeland Security, where I had a 

7 

very similar focus. And then in 2006, I returned to the Justice Department to be Deputy Assistant Attorney General in the Criminal 

Division, where I supervised four major sections, again, touching 

on the many issues that I will be confronted with should I be confirmed, including just by way of example cybersecurity, human 

rights money laundering, among other cases. Then in 2009, I joined 

the private sector, where I gained valuable and practical insights 

into the compliance issues that financial institutions and other 

companies face on a regular basis. 

I am particularly honored to be nominated for this position, 

which serves such an important function in our national security, 

foreign policy, and economic apparatus. If confirmed, I will strategically and tactically marshal all of the tools of the Office of Terrorism and Financial Intelligence and will constantly evaluate how 

to evolve those tools to meet new challenges, and to always be 

proactive, intelligence driven, and results oriented. I am also very 

much looking forward to leading the many talented and dedicated 

career professionals in the Office of Terrorism and Financial Intelligence. And, of course, I look forward to working both closely with 

this Committee and with the interagency to make sure that we are 

effectively executing those tools in order to meet the objectives that 

we set for ourselves and for the country. 

Thank you. 

Chairman CRAPO. Thank you, Ms. Mandelker. 

Ms. Ricardel. 

STATEMENT OF MIRA RADIELOVIC RICARDEL, OF CALIFORNIA, TO BE UNDER SECRETARY FOR EXPORT ADMINISTRATION, DEPARTMENT OF COMMERCE 

Ms. RICARDEL. Thank you. Mr. Chairman, Ranking Member Senator Brown, Senators of the Committee, it is a distinct privilege 

and truly humbling experience to come before this Committee to be 

considered for Under Secretary of Commerce for Export Administration. I am deeply honored to have been nominated by President 

Donald Trump and greatly appreciate the confidence that has been 

placed in me by the President and Secretary of Commerce Wilbur 

Ross. 

When I served as legislative assistant to Republican Leader Bob 

Dole, I did not imagine that the future might hold this opportunity, 

that one day I would not be preparing questions but answering 

them. Perhaps my late father might have thought this possible, not 

only because of his bias toward his daughter, but because he was 

always optimistic about what was possible in this great Nation— 

a view that carried him from communist-controlled Croatia via 

Germany to the United States, with little more than optimism in 

his pockets. 

I wish to thank Senator Bob Dole for teaching me so much about 

leadership, integrity, and fairness. I learned hands-on that building 

bipartisan coalitions is essential to progress and reaching agreements. This lesson informed how I approached issues as a member 

of his staff and also how later I approached working within the 

U.S. Government interagency while serving at the Department of 

Defense. The ability to understand and balance the equities of U.S. 

8 

agencies and drive toward solutions that strengthen U.S. national 

security is vital. 

The role of the Under Secretary of Commerce for Export Administration is consequential and one in which I will be able to leverage my experience and skills if confirmed. The Bureau of Industry 

and Security advances U.S. national security and economic objectives by ably managing and ensuring effective export control systems, supporting treaty compliance, and enforcing sanctions. The 

Bureau’s responsibilities are executed in close cooperation with a 

wide range of departments and agencies, including the Departments of Treasury, Justice, State, Defense, and Homeland Security. 

The recent announcement by Secretary Ross of record criminal 

and civil penalties against ZTE Corporation is the culmination of 

6 years of investigation and highlights the crucial functions of the 

Bureau’s Office of Export Enforcement. Last year, the Bureau’s Export Administration office processed nearly 33,000 license applications related to dual-use items and items that had previously been 

on the U.S. Munitions List. The U.S. retains jurisdiction over reexports of U.S. origin goods abroad; this is an indispensable tool to 

address the potential diversion of items to our adversaries who 

might use them against U.S. military forces abroad or in the development of weapons of mass destruction. 

Important also is that the licenses processed by the Bureau of Industry and Security enable exports of U.S. goods, and these exports 

mean jobs for American workers. As a former employee of an aerospace company, I can appreciate the impact of exports on jobs. At 

the same time, the health of the U.S. defense industrial base is imperative, and in that regard, under Secretary Ross’ initiative, the 

Bureau of Industry and Security has launched two investigations 

on steel and aluminum imports under Section 232 of the Trade Expansion Act. In addition, the Bureau regularly conducts studies on 

other areas of the U.S. industrial base. 

Secretary Ross recently said, ‘‘Under President Trump’s leadership, we will be aggressively enforcing strong trade policies with 

the dual purpose of protecting national security and protecting 

American workers.’’ If confirmed, I will act vigorously to enforce 

U.S. export controls, embargoes, and sanctions, as well as continuously promote and advance policies that support U.S. industries 

and technologies and the American workers who are the foundation 

of our industrial base. 

Mr. Chairman, Senator Brown, and Senators of this Committee, 

thank you for your consideration of my nomination. I would be 

pleased to answer any questions the Committee may have. 

Chairman CRAPO. Thank you, Ms. Ricardel. 

Mr. Billingslea. 

STATEMENT OF MARSHALL BILLINGSLEA, OF VIRGINIA, TO BE 

ASSISTANT SECRETARY FOR TERRORIST FINANCING, DEPARTMENT OF THE TREASURY 

Mr. BILLINGSLEA. Thank you. Chairman Crapo, Ranking Member 

Brown, and members of the Committee, I am honored to appear before you today as the President’s nominee for Assistant Secretary 

of the Treasury for Terrorist Financing. 

9 

Senators, at the outset, I thank my family—I introduced my wife, 

Karen, and my two daughters, Morgan and Elsa—for supporting 

my decision to accept the President’s nomination. These positions 

require significant family sacrifice, and I could not undertake this 

without their love and their backing. 

Unfortunately, my mother and father could not be here today, 

but I am very happy that my sister, Rachel—who is a career Pentagon official—is present. Rachel and her husband, Craig, who is 

a chief warrant officer, have collectively served more than 5 years 

in Afghanistan and Iraq, both together and apart during their marriage, helping keep our Nation safe from the terrorist threat. They 

are, in my view, Senators, great Americans who have sacrificed 

much to protect our Nation. 

By way of background, Rachel and I were born and raised in 

Montgomery, Alabama, as your constituents, Senator Shelby. Our 

father, Oliver, is the son of a cotton farmer and was, in fact, the 

first to graduate from college. Our mother, Nancy, Senator Brown, 

hails from Xenia, Ohio, where I am proud to say that today we 

have a very large extended family and do family reunions out there 

when we can. From our parents I learned the value of stoicism and 

hard work, and I am deeply grateful to them for the sacrifices that 

they made over the years that have allowed me to be here today. 

I have had the opportunity over the past weeks to meet with several Members of the Committee, and I greatly appreciate that 

chance and the opportunity to understand the issues that you feel 

are most important with respect to the Treasury Department and 

terrorist financing. And if confirmed, I look forward to working 

with all Members of the Committee, and with your staff, on this 

crucial national security issue. 

There are four brief points that I would like to stress for you this 

morning with regard to my nomination. 

First is that I understand the criticality of close, bipartisan working relationships both within the and with Congress. From 1995 to 

2001, as the Senior Professional Staff Member for National Security Affairs on the Foreign Relations Committee, I drafted multiple 

pieces of sanctions legislation, most of which were subsequently enacted into law with overwhelming bipartisan support. The focus of 

these statutes was, and remains today, to combat the proliferation 

of weapons of mass destruction and missile systems and to disrupt 

foreign terrorist and trafficking networks. 

Second, I appreciate how important are financial and economic 

tools in the fight against terrorism. After 9/11, I served as the Principal Deputy Assistant Secretary for Special Operations and Low 

Intensity Conflict. Disruption of the terror network’s financing operations featured heavily in our day-to-day operations and our 

planning. And, in fact, working very closely with multiple Treasury 

offices, this Committee had not yet created the position to which 

I have been nominated. That was done a few years later. I established the first DOD Counter Threat Finance cell, with a detailee 

from Treasury playing a critical role. 

Third, ‘‘buy-in’’ from friendly Nations is crucial to the work of the 

office. At NATO, from 2003 to 2006, I served as our Assistant Secretary General for Defense Investment, and my time at NATO 

taught me the importance of forging close working relationships 

10 

with officials from across the Alliance. Many of these officials remain in office today overseas and I believe will be in a position to 

assist the United States in many of the various initiatives that are 

either underway or which need to be undertaken. 

Finally, disrupting terrorist finance and illicit trade requires 

working closely with the private sector, as the Chairman mentioned in his opening remarks. Since 2009, I have served as a managing director at Deloitte, where I lead the Federal Business Intelligence Services group. We perform due diligence into third parties 

on behalf of both Federal departments agencies—the counterintelligence community, for example—but also for commercial clients, 

and the purpose of this is to protect against doing business with 

entities accused of corruption, of narcotics trafficking, of money 

laundering, of child or slave labor activities, or other worrisome 

matters. So I bring close working relationships across the global financial services sector, and I will leverage those connections to advance our national security agenda. 

In conclusion, Chairman and Ranking Member Brown, I greatly 

appreciate the opportunity afforded by your Committee to appear 

before you today as your consider my nomination. Over the past 22 

years, I have had the privilege of working closely with the Department of the Treasury on multiple terrorist financing and financial 

crimes issues, and I believe I bring a unique combination of both 

legislative as well as executive branch and private sector experience to the role. If confirmed by the Senate, I will work very closely 

with this Committee to drive the policies and actions necessary to 

disrupt illicit finance and terror networks. 

Thank you, sir. 

Chairman CRAPO. Thank you, Mr. Billingslea. 

Mr. Tarbert. 

STATEMENT OF HEATH P. TARBERT, OF MARYLAND, TO BE ASSISTANT SECRETARY, INTERNATIONAL MARKETS AND DEVELOPMENT, DEPARTMENT OF THE TREASURY 

Mr. TARBERT. Chairman Crapo, Ranking Member Brown, and 

distinguished Members of the Committee, I am honored to appear 

before you today. I am humbled by the confidence the President 

has shown in me by nominating me to be the next Assistant Secretary of the Treasury for International Markets and Development. 

I appear before you today with full recognition of the serious responsibilities associated with the position. If confirmed as Assistant 

Secretary, I would lead nine of the Treasury Department’s offices 

charged with protecting and supporting foreign investment in the 

United States, reducing global financial instability, fostering international economic development, and managing key global challenges. I believe that my professional background and desire to 

serve our country will enable me to perform this role and work to 

keep our country safe and prosperous. 

While growing up in Baltimore, my family emphasized hard 

work, education, and the importance of public service at every level 

of Government. Both of my grandfathers fought in World War II— 

one with the Army in Europe, one with the Navy in the Pacific. 

One of my uncles was a police officer, another a firefighter. My father went to night school to become an accountant and eventually 

11 

served as Comptroller of the Maryland Port Administration and of 

the Baltimore County Community College System. Although my father passed away after a courageous battle with cancer, his commitment to public service remains a guiding example for me. 

Each of my adult guests today is or has been a public servant. 

My mother retired as a child support enforcement officer, my sister-in-law is a public school teacher, and my brother just completed 

a term as deputy mayor of Baltimore for economic and neighborhood development. Finally, my wife, Kate, and I met clerking for 

the U.S. Court of Appeals here in Washington. Now a full-time 

mom to our two young sons, she has served in the Justice Department and as a law clerk to the Chief Justice of the United States. 

I have been inspired by their dedication to public service as well. 

I myself have had the privilege of serving in all three branches 

of the Federal Government. One of my most enjoyable jobs in public service was working as Special Counsel to this Committee back 

in 2009 and 2010. During that period, I had the privilege of working closely with Banking Committee staff members and legislative 

assistants on both sides of the aisle on a number of important 

international economic issues. And it was especially an honor to 

serve under your leadership, Senator Shelby. 

Since leaving the Banking Committee staff, I have practiced as 

a regulatory compliance lawyer, with a chief focus on international 

markets. In this role, I have assisted public and private sector institutions from outside the United States make investments in our 

country that created jobs for working Americans and their families. 

I have also helped financial services companies around the world 

comply with regulatory and supervisory measures intended to 

make them safer and sounder, thereby reducing or eliminating the 

possibility of future taxpayer bailouts. In addition, I have designed 

compliance programs aimed at detecting and preventing money 

laundering and terrorist financing. 

If confirmed as Assistant Secretary of the Treasury, I hope to 

work closely with this Committee, others in the Senate and House 

of Representatives, and my colleagues in the Administration to 

carry out my responsibilities. 

Thank you again for the opportunity to appear before you today. 

I am happy to answer any questions you may have. 

Chairman CRAPO. Thank you, Mr. Tarbert. 

For my 5 minutes of questioning, I would like to give each one 

of you about a minute to just respond briefly to me about what you 

see as your top one or two priorities in assuming office. What 

would you use your minute for to discuss this? We will start with 

you, Ms. Mandelker. 

Ms. MANDELKER. Thank you, Chairman. I will try to fit it in in 

a minute. I will have, of course, many priorities. But first and foremost, I want to focus very immediately on the areas that pose the 

greatest threats. That is, of course, North Korea, Iran, ISIS, Syria, 

Russia. I will immediately ask for a briefing from the folks in the 

Intelligence Office that I will be supervising so I can understand 

where we are in intelligence in the area of threat finance. 

I will also immediately want to gather all folks from all of the 

components of TFI so I can understand, number one, what are we 

doing in any particular area, what do we propose to the interVerDate Nov 24 2008 14:28 Jun 26, 2017 Jkt 046629 PO 00000 Frm 00015 Fmt 6633 Sfmt 6633 L:\HEARINGS 2017\05-16 NOMINATIONS\HEARING\25925.TXT JASON
12 

agency, what are our gaps, our vulnerabilities, and how can we increase pressure using the wide array of tools, not just sanctions, of 

course—FinCEN has a number of tools. TFFC is very engaged 

internationally. And I will want to put myself right in the middle 

of that so I can lead them in the right way and continue to think 

innovatively and strategically and tactically as to how we can further our national security interests. 

Chairman CRAPO. Thank you. 

Ms. Ricardel. 

Ms. RICARDEL. Thank you. Through the use of effective export 

controls and enforcement, we need to be sure that we are preventing the export of technology and goods to terrorists and stemming the flow of weapons of mass destruction, while at the same 

time protecting U.S. critical technologies and competitiveness. I 

think it is very important as an early step to see whether there are 

sufficient resources allocated to do these important functions, to assess whether there are potential gaps that could be filled with 

stricter restrictions, for example, on the export of goods, at the 

same time assessing the state of the industrial base, getting up to 

speed on what the internal assessments are currently on critical 

areas. And I look forward to also consulting with the Committee on 

areas of concern, if confirmed, to see what will be on your priority 

list. 

Chairman CRAPO. Thank you. 

Mr. Billingslea. 

Mr. BILLINGSLEA. Thank you, Mr. Chairman. I was in the Pentagon the day they slammed the plane into the building, and I 

think if you had told me at the time that we would today and potentially my daughters would be facing the threat of terrorism, I 

am not sure I would have believed you at the time. The reason I 

have agreed to accept this nomination and come before you today 

is because I am absolutely committed. We live in a very dangerous 

world today, and I believe we have to apply every potential source 

of leverage to deal with both terrorist threats as well as State sponsors of terrorism, as well as Nation States who are engaged in unacceptable behaviors. 

And so I share Ms. Mandelker’s priorities, and disrupting these 

networks will be my absolute and unrelenting focus, if confirmed. 

Chairman CRAPO. Thank you. 

Mr. Tarbert. 

Mr. TARBERT. If confirmed, Mr. Chairman, I believe my top priority would be to ensure that the Office of Investment Security and 

the CFIUS process more generally has the resources and tools it 

needs to perform the function that Congress intended it to. 

Chairman CRAPO. All right. Thank you very much. In fact, you 

all kept within the time limits. 

Senator Brown, I am going to yield a minute back. 

Senator BROWN. Thank you, Mr. Chairman. 

Since my time is short, I would appreciate a yes or no answer 

from each of you on a handful of questions. If you would like to expand your answer, feel free, but please do it in writing, if you 

would. And remember, you are under oath. I will start with you, 

Ms. Mandelker, and just work my way down. 

13 

Do you commit to reply to every oversight or other letter and request for information from me and from all other Members of the 

Banking Committee in a timely manner? 

Ms. MANDELKER. Yes, I do. 

Ms. RICARDEL. Yes, I do. 

Mr. BILLINGSLEA. Yes, sir. 

Mr. TARBERT. Yes. 

Senator BROWN. Thank you. Do you commit to alert the Committee of any attempt by the White House to interfere with, to 

stall, or to change responses from your Department for oversight 

information that has been requested by Congress? Do you commit 

to alert the Committee of any attempt like that? 

Ms. MANDELKER. Well, Senator, I commit to working very closely 

with this Committee, and should any issue like that arise, I would 

think that we would have some consultation. 

Senator BROWN. That is not quite a yes. 

Ms. MANDELKER. Well, I would, of course, want to consult with 

the Department—— 

Senator BROWN. If the White House tries to interfere or change 

responses by your Department, would you notify this Committee? 

Ms. MANDELKER. Well, Senator, I would work very closely with 

this Committee on a wide range of issues. I would want to consult 

with the Secretary in any such case, and I will commit to doing 

that. 

Ms. RICARDEL. Senator, I do not anticipate that this kind of an 

issue would come up, that there would be any interference in that 

way. I would execute, if confirmed, my duties within the authorities of the Bureau. 

Senator BROWN. Mr. Billingslea. 

Mr. BILLINGSLEA. Senator, as the Under Secretary nominee has 

indicated, within those parameters, yes, sir. 

Mr. TARBERT. Again, within those parameters, yes, sir. 

Senator BROWN. Also, I would appreciate a yes or no on this bit 

more complicated question but one answerable that way. Unlike 

past Administrations that you have worked in, senior Government 

officials in this Administration have not divested themselves of 

many of their assets, some overseas, some with international partners, some unclear as to who the ultimate beneficial owner of an 

interest might be. The question is: Do you think it would be in the 

interest of those officials as well as the offices you will head to undertake a process to ensure that foreign entanglements are benign 

with respect to the laws you will enforce on terrorism, on money 

laundering, on sanctions, on CFIUS, and the like? Ms. Mandelker. 

Ms. MANDELKER. Senator, again, I would have to consult with 

the ethics officials at the Department and elsewhere. I do not think 

that we should—I do not have any issues of that sort, and I would 

agree that—— 

Senator BROWN. But many in the Administration do, correct? 

Ms. MANDELKER. I cannot—I cannot—— 

Senator BROWN. But you know the answer to that. 

Ms. MANDELKER. Well, I cannot weigh in on that question. I have 

not seen their financials, of course. 

Senator BROWN. But you read a lot. OK. 

14 

Ms. RICARDEL. Senator, I can speak for myself. My ethics letter 

reflects that I am going to divest of any assets that I have that 

could pose a conflict of interest, and I do not have insights into 

other people’s personal finances. 

Mr. BILLINGSLEA. Senator, as my Committee questionnaire indicates, I am divesting, including going above and beyond what the 

Office of Government Ethics required. 

Mr. TARBERT. Senator, I plan to fully comply with all applicable 

ethical laws and regulations, and I would assume other public officials will as well. 

Senator BROWN. I think you know from my question I am not 

challenging or concerned with the ethics of the four of you. I am 

concerned with ethics of others in the Administration that you have 

all read widely about and, frankly, I think perhaps made some of 

you not so certain perhaps that you wanted to sign up with this 

Administration. I will leave it at that. 

Ms. Mandelker, I am sure you have read the papers today. Can 

you tell me if an allied Nation in the Middle East or elsewhere 

shares sensitive intelligence with us on condition that they will 

control the sharing or release of it, and the U.S. then shares that 

information without permission of the country that originated it, do 

you think that would harm our future ability to gather similar intelligence from that ally and from others because it would undermine their confidence in our willingness to protect such information? 

Ms. MANDELKER. Senator, that is a difficult question for me to 

answer. I would have to understand the underlying facts and circumstances and speak with the individuals who are experts in how 

we do share information with other countries. 

Senator BROWN. I am not asking what might have happened in 

the Oval Office when the U.S. President asked the American media 

to leave and stayed there with the old Soviet news agency TASS. 

I am not asking about the specifics because we do not know for 

sure yet exactly what was said. But I am asking if, in fact, an allied Nation which shared sensitive intelligence with us on the condition that we not share it or release it without their approval, if 

they did it, would that harm our future ability to get information 

and gather similar intelligence from that ally or other allies? 

Ms. MANDELKER. Again, Senator, in the absence of understanding any particular set of facts and circumstances, it is difficult 

for me to answer that question. Of course, we should be careful in 

how we share information with our allies and elsewhere, but I cannot answer a hypothetical when I do not understand all the complexities that are involved. 

Senator BROWN. All right. Thank you. 

Chairman CRAPO. Senator Shelby. 

Senator SHELBY. Thank you, Mr. Chairman. 

I believe this is a great group, the four of you eminently qualified 

for your jobs here. I have a few questions, and I will start with you, 

Ms. Mandelker. You have been nominated to be the Under Secretary for Terrorism and Financial Intelligence. That is at Treasury. Tell us and share it with the American people who are watching how important the war on terrorism—that we win this war, 

15 

that we contain it and try to destroy it and the connection to financial intelligence. 

Ms. MANDELKER. Thank you for that question, Senator. It is, of 

course, incredibly important. It is what I dedicated myself to when 

I joined the Justice Department in 2002. I think that the Office of 

Terrorism and Financial Intelligence has tremendous tools which 

have been used very successfully since the office was stood up in 

2004, and it is one that I would dedicate myself to every day. 

Senator SHELBY. Ms. Ricardel, you have had great experience in 

the private sector but also starting out with the Majority Leader 

here in the U.S. Senate, Senator Dole. What do you believe will be 

your biggest challenge as Under Secretary of Commerce for Export 

Administration? Will it be protecting American business? Or what 

will it be? 

Ms. RICARDEL. Thank you, Senator, and I appreciated the opportunity to meet with you the other day. I believe that strong national security requires a strong defense industrial base. So in a 

way, I do not see the question as either/or, protecting defense business or protecting our national security, because we need strong 

defense capabilities, and that is what our defense industry brings 

us with the right guidance. 

Senator SHELBY. Mr. Billingslea, you bring broad experience into 

your nomination as Assistant Secretary of the Treasury for Terrorist Financing. Of course, a lot of this overlaps financial intelligence and what we do with it. But terrorists cannot go very far 

in today’s modern world without financing, can they? They have 

got to have it one or the other. So your role has got to be central 

to our fight against terrorism all over the world globally. 

Mr. BILLINGSLEA. Thank you, Senator. Yes, I believe very strongly in the position that this Committee and the Congress has established and its value in supporting the Under Secretary, particularly 

in the diplomatic arena, engaging with Nations across the spectrum. 

If I may just very quickly add that we have come a long way— 

I remember the very first time I heard of a hawala and tried to 

understand what that was back 15 years ago. Our country has 

come a very long way in our ability to combat this kind of illicit 

finance. 

Senator SHELBY. But the challenge goes on. 

Mr. BILLINGSLEA. The challenge goes on. 

Senator SHELBY. The terrorists are very resourceful and very 

smart in a lot of ways, are they not? 

Mr. BILLINGSLEA. They are thinking—they are very thinking and 

creative people. 

Senator SHELBY. And they are thinking in tomorrow’s world 

through the Internet and everything that goes with it. 

Mr. BILLINGSLEA. Yes, sir. 

Senator SHELBY. And that is our challenge. 

Mr. BILLINGSLEA. Absolutely, sir. 

Senator SHELBY. Mr. Tarbert, you are no stranger to this Committee as you worked here before and you did a lot of great work. 

We are glad to have you back. What do you believe is going to be 

your biggest challenge? 

16 

Mr. TARBERT. If confirmed, I think the biggest challenge would 

be really making sure that no investment gets approved as part of 

the CFIUS process that has any unresolved national security concerns, so to really make sure that there are no unresolved national 

security concerns before CFIUS certifies it to Congress. 

Senator SHELBY. How do you balance that with the concerns of 

not exporting things that are so important to our national security 

with ordinary commerce? Isn’t that part of the—— 

Mr. TARBERT. The test right now focuses solely on national security, and so as I read the statute, it does not include considerations 

of commerce. But what I would say is that the very fact that 

CFIUS sits in the Treasury Department—the idea is we want to 

encourage foreign investment, and the only exception to that is 

where there is a national security issue. 

Senator SHELBY. Do you believe that the CFIUS statute as now 

written, which we were all involved in on this Committee, is sufficient for your work? 

Mr. TARBERT. It is a great question, Senator Shelby. I understand there are discussions now about whether that is the case. 

There is also a GAO report due out. So, if confirmed, I would obviously want to ensure that the CFIUS process, first of all, is doing 

the job that Congress intended, but, second, whether there are any 

gaps. 

Senator SHELBY. Would you work with this Committee on any 

deficiencies that are brought up and maybe we need to address? 

Mr. TARBERT. If confirmed, I absolutely would, Senator. 

Senator SHELBY. Thank you, Mr. Chairman. 

Chairman CRAPO. Thank you. 

Senator Reed. 

Senator REED. Thank you very much, Mr. Chairman, and thank 

you all for your willingness to serve. 

I want to follow up with a variation on one of Senator Brown’s 

questions, and I will go down the line. Are you aware of any formal 

or informal guidance from the White House that urges limiting or 

not responding to legitimate oversight letters from Members of 

Congress, particularly minority Members of Congress? We will 

begin with Ms. Mandelker. 

Ms. MANDELKER. No, Senator, I am not. 

Senator REED. Ma’am. 

Ms. RICARDEL. No, sir, I am not. 

Mr. BILLINGSLEA. Senator, I am not. 

Senator REED. Thank you. 

Mr. TARBERT. No, Senator Reed. 

Senator REED. Thank you very much. 

Mr. Tarbert, in 2012, the U.S. Joint Economic Security Review 

Commission issued a report that essentially said a lot of the investment by Chinese companies is based on strategic rather than purely economic interests because of subsidies they receive from the 

Government, because many of them are entities of the Government 

in most respects. If this is the case, and if they are doing this, 

should we look again at our laws with respect to evaluating Chinese acquisitions of U.S. interests in U.S. companies? 

Mr. TARBERT. I think it is an excellent question, Senator. My understanding is that there are discussions now about pending legisVerDate Nov 24 2008 14:28 Jun 26, 2017 Jkt 046629 PO 00000 Frm 00020 Fmt 6633 Sfmt 6633 L:\HEARINGS 2017\05-16 NOMINATIONS\HEARING\25925.TXT JASON
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lation as well as a GAO report that is coming out, and I think one 

of the questions that was listed is the one that you are addressing. 

I do know that currently as part of the CFIUS process, which 

was required by this Committee in FINSA, State-owned enterprises 

automatically trigger a presumption of an investigation. But, if confirmed, I commit to working with this Committee to discuss this 

issue and others. 

Senator REED. And you would sort of take the material that is 

being developed now and use that to advise us on statutory 

changes that might be necessary or you would use your current authority to try to resist these types of acquisitions? 

Mr. TARBERT. If confirmed, I would imagine I would do both. 

Senator REED. Thank you. 

Ms. Mandelker, China is providing significant support to North 

Korea, and they are doing it through financial means; they are 

doing it through their banking system. How would you propose to 

disrupt this trade, which, if we do not, could lead us to a very serious confrontation on the peninsula? 

Ms. MANDELKER. Thank you for that question, Senator. I share 

your concerns. I think it is very important to engage very 

proactively with China to curb the support that is going to North 

Korea. I note, of course, that Secretary Tillerson, the President, 

and others in the Administration have engaged in a very active dialog with the Chinese, and not just with China but also, of course, 

with other countries. In fact, over the weekend there was a call for 

all countries to enhance their sanctions regimes when it comes to 

curbing the North Korean threat. 

I think that we have to be very active in how we track, trace, 

and ultimately interdict illegal assets that are going to North 

Korea. We have to be very active in our enforcement of illicit actors 

that are violating our sanctions. We have to be very active in how 

we track down the intelligence, and we have to constantly consider 

what levers of pressure we are going to apply if other countries do 

not, in fact, abide by our call to further isolate North Korea. 

Senator REED. Thank you very much. 

Ms. Ricardel, there have been changes recently in the items that 

can be sold, basically moving some items from the U.S. Munitions 

List, the State Department’s, the Commerce-administered list. Do 

you have any comments on those changes and any perspective 

about how you would enforce them? 

Ms. RICARDEL. Senator, thank you. I am aware of the things that 

have been moved from the U.S. Munitions List, and my understanding is that there is still a vigorous export control enforcement 

process, whether it is on the Munitions List or on the Commerce 

Control List. Certainly, dual-use technologies are often challenging, 

but that is why there are controls not just on what the end use is, 

but also end users. 

Senator REED. Thank you very much. 

Thank you, Mr. Chairman. 

Chairman CRAPO. Thank you. 

Senator Tillis. 

Senator TILLIS. Thank you, Mr. Chair. Thank you all for being 

here. I appreciate the three of you that were able to come into my 

office, and I am sorry, Ms. Ricardel, we were not able to meet toVerDate Nov 24 2008 14:28 Jun 26, 2017 Jkt 046629 PO 00000 Frm 00021 Fmt 6633 Sfmt 6633 L:\HEARINGS 2017\05-16 NOMINATIONS\HEARING\25925.TXT JASON
18 

gether. But Robert Wilkie speaks very highly of you, and his opinion means a lot to me. So I thank you for being here and congratulations to the family. 

Ms. RICARDEL. Thank you, Senator. 

Senator TILLIS. I have a general question, and it relates to the 

current—the person in an acting capacity—we have in acting capacity. We are looking to confirm people to move into the organization. Can you very quickly down the line describe why you think 

it is problematic to maybe delay the confirmations and what that 

would prevent the head of the organizations that you are going to 

be confirmed to, how that would affect the day-to-day operations, 

either morale or execution? Mr. Tarbert, in your particular case, 

acting on the recommendations that come from the GAO? So just 

down the line why you would emphasize the importance of an expedient confirmation in your roles? 

Ms. MANDELKER. Senator, I know from my prior experience having worked in the Government that it is very important to have 

your political appointees confirmed. The authority that somebody 

speaks with once they have been confirmed by the Senate is much 

greater. Your ability to engage in the right way with the international community is very much heightened when you have a confirmed person in that position. And I think that the career professionals within any department are looking for direction and leadership, and they want to know what their next steps are, where is 

the office going to be taken under the leadership of the new appointee, and it is very important to have that person in there as 

quickly as possible so that they can carry on and get to the—I am 

sure they are all dedicated and working very hard, but they can 

get to the business of understanding what the direction is going to 

be. 

Senator TILLIS. Ms. Ricardel. 

Ms. RICARDEL. Thank you. I would agree with my colleague’s assessment on the internal and external aspects of this. Also, policymaking tends not to move forward when you have people in an acting capacity. 

Senator TILLIS. Is it fair to say that we have some open switches 

on policy that we need to move forward on? 

Ms. RICARDEL. Yes, sir. 

Senator TILLIS. And every day delayed is a delay in policy that 

has probably got bipartisan support? 

Ms. RICARDEL. I would agree with that assessment. 

Senator TILLIS. Thank you. 

Mr. BILLINGSLEA. Senator, on top of that, events are moving 

ahead, and we have a worsening situation in North Korea, to name 

just one flash point, where incoming Administrations are in the 

process of—you know, they always contend with new issues, and 

this Administration is going through a review on a variety of 

issues. To the extent that this Committee trusts our judgment, it 

might be better to have us involved in those discussions sooner 

rather than later. 

Mr. TARBERT. I will not repeat all the things that my colleagues 

said, all of which I think go to your question. Specifically with respect to CFIUS, Congress enacted FINSA in 2007 for the main reason of making sure that there was a Senate-confirmed appointee 

19 

who would certify the transactions once approved. So that is an example of where specifically Congress had intended there to be a political appointee. 

Senator TILLIS. So it sounds like to me consensus that a lot of— 

the threats are increasing every day, and you are going to be in 

very, very important roles that either affect our national security 

or homeland security or our economic relationships with other—in 

a global economy. So this delay, it seems to me, would not be 

healthy for the areas that you are being tasked with trying to improve our situation, our safety and security. I do not see anyone 

that wants to question that. 

I want to go to maybe a specific question, and, Heath, this is 

back to you, and it relates to CFIUS. You know, we are in an increasingly complex world where we want to attract global investment, but sometimes that global investment could wade into an 

area where we have to assess national security interests. How do 

we modernize or how do we get to a point—it could be about the 

data that a global investor may have access to. It could be about 

trade secrets, other things. How do you balance that and make 

sure that we have got a modern view of how that works? Because 

we are in a global data environment and economy so—— 

Mr. TARBERT. It is an excellent question, Senator. I probably do 

not have a fulsome answer for you now, but I think you raise an 

excellent point, which is that we want to make sure for those foreign investments that do not raise actual national security issues 

that they are certified in a fast process so we can have foreign investment in the United States that creates jobs for American workers and families. Then, of course, we want to make sure that for 

those transactions that do raise genuine national security issues, 

that we take the time we need to really evaluate them. 

Senator TILLIS. Ms. Ricardel, I was going to ask you a similar 

question, but my time has expired, and I admire the way the Chair 

keeps us on time. 

Chairman CRAPO. I appreciate it. Thank you. 

Senator Menendez. 

Senator MENENDEZ. Thank you, Mr. Chairman. The nominees we 

are considering today are critical components of our national security and foreign policy, particularly in combating terrorism and implementing what I consider to be a peaceful tool of foreign diplomacy, including sanctions. 

And I would agree with the answer you gave Senator Tillis, Ms. 

Ricardel, in that had we not held up Adam Szubin, that being Republicans holding up Adam Szubin, for a critical position, there is 

a difference between someone who is acting or someone who has 

the full authority of the position. And so I wish that my colleagues 

had had the same focus and attention and commitment as they 

seem to have now. But at least it is a good moment to move to the 

understanding of the importance of these positions. 

Ms. Mandelker, if you are confirmed, you will oversee a wide 

range of financial tools that the United States strategically employs 

to target the finances, assets, laundering office of terrorist networks, dictators, other actors who facilitate nefarious activities 

against U.S. interests. I have often been not only the advocate but 

the architect of those sanctions in Iran, Russia, and North Korea. 

20 

And what I want to hear from you is: Are you committed to 

robustly enforcing the law in all of its elements as it relates to 

these sanctions, these different financial consequences that we create on actors that are adverse to the national interests and security 

of the United States? 

Ms. MANDELKER. Absolutely, Senator. That is one of the primary 

reasons I took on this job, because I am committed to robustly enforcing those authorities. 

Senator MENENDEZ. And you will not only be someone who will 

be an implementer of the sanctions that Congress passes into law 

or that the President by Executive action does, but also you will 

be at a table in interagency processes in which there will be a role 

for you to be an advocate. When it is appropriate, will you be an 

advocate when we are looking to have a peaceful diplomacy tool 

against an adversary who defies the national interests of the 

United States? Will you be an advocate of using these different 

tools, sanctions, financial limitations, and whatnot, in that context? 

Ms. MANDELKER. Yes, Senator, one of my primary roles will be 

to be that advocate within the—— 

Senator MENENDEZ. Can you commit to the Committee—the Office of Foreign Assets Control, which is an important office within 

the TFI, we have given it an overwhelming amount of work to do. 

They do exceptional work. I do not always agree with their decisions, but they do exceptional work. And so the question is—I am 

not sure that anybody has analyzed whether or not OFAC actually 

has the resources to do the work that is necessary to make sure 

that sanctions are enforced, because any law without enforcement 

is meaningless. Will you commit to the Committee upon confirmation to go ahead and review and understand whether they have the 

assets? And if they do, that is fine. But if they do not, that you will 

be an advocate for increasing their assets in order for us to see the 

law implemented? 

Ms. MANDELKER. Yes, I will commit to doing that as well. 

Senator MENENDEZ. Thank you very much. 

Mr. Tarbert, I am seriously concerned about—I want foreign investment in the United States, but I am seriously concerned when 

that foreign investment potentially undermines national security 

questions. The reality is with Russia we have seen escalated attacks on the United States, particularly in its cyberwarfare against 

the United States. I think that it would be naive to approach any 

potential acquisition, for example, by Russia of critical national security infrastructure when they have already demonstrated their 

affinity for executing cyberattacks to disrupt energy grids in 

Ukraine, using the Russian oil and gas industry to manipulate 

prices in Eastern European economies. We have seen that they are 

willing to do this in different parts of the world. 

Last year, due to increasing financial pressure as a result of Venezuela’s financial crisis, PDVSA, the State-owned oil company, 

pledged nearly 50 percent of Citgo shares to Rosneft, which is a 

Russia State-owned oil company, in exchange for a loan. Not only 

do they have that 50 percent potentially if PDVSA defaults, the 

Venezuelan oil company, but they may have purchased additional 

shares on the open market, which puts them as a majority shareholder. They own Citgo in the United States which has 48 U.S. peVerDate Nov 24 2008 14:28 Jun 26, 2017 Jkt 046629 PO 00000 Frm 00024 Fmt 6633 Sfmt 6633 L:\HEARINGS 2017\05-16 NOMINATIONS\HEARING\25925.TXT JASON
21 

troleum product terminals, three refineries in Texas, Louisiana, Illinois, nine pipelines throughout the country. 

Do you consider that possibility of Russia owning Citgo a clear 

element of what we should be looking at CFIUS to ensure that the 

national interests of the United States are not compromised? 

Mr. TARBERT. Senator, I will refrain from discussing any particular transaction, but what I would say is that, if confirmed, any 

covered transaction would be examined thoroughly for any national 

security concerns. 

Senator MENENDEZ. Well, is this going to be the possibility of an 

instance of first impression, because we have already a foreign 

company, PDVSA, a Venezuela-owned company, owning Citgo. Now 

you would see the possibility of Russia owning that company as a 

result of a default of the debt obligation. And I would hope that if 

you are to be confirmed, you will make sure that we are ensuring 

that the critical infrastructure of the United States does not fall in 

the hands of a foreign Government that has shown its hostility to 

the United States. 

Mr. TARBERT. If confirmed, I would take all action as appropriate 

to ensure our national security interests are protected, including 

relying upon our intelligence community for reports on Nations 

that have hostile intentions. 

Senator MENENDEZ. Thank you, Mr. Chairman. 

Chairman CRAPO. Thank you. 

Senator Kennedy. 

Senator KENNEDY. Thank you, Mr. Chairman. 

Thank you all for your service and for your past service. You all 

have very impressive resumes. If you could answer my questions 

in 30 seconds or less, I would be grateful. We only have 5 minutes. 

Ms. Mandelker—am I saying that right? 

Ms. MANDELKER. Yes. 

Senator KENNEDY. Is Iran cheating with respect to our nuclear 

agreement? 

Ms. MANDELKER. Well, Senator, as I am sure you know, there is 

an ongoing review that is underway within the Administration now 

to evaluate the JCPOA and our Iran policy. I am not part of that 

process at this point. I would look forward to learning more about 

the answer to your question, should I be confirmed. But I do not 

have—I am not privy to the intelligence today. I am very concerned 

about the activity that we are seeing in Iran. 

Senator KENNEDY. OK. That was pretty evasive. That is good. 

Do you think the International Atomic Energy Agency is doing 

a good job in terms of transparency and telling us what is going 

on? 

Ms. MANDELKER. Again, I am not privy to the intelligence. I am 

not in the Administration—— 

Senator KENNEDY. I get it. I get it. 

Mr. Billingslea, does President Vladimir Putin have assets in the 

United States? 

Mr. BILLINGSLEA. Senator, I do not know that. 

Senator KENNEDY. Who would know that in Government, either 

held in his name or in a nominee’s name? 

Mr. BILLINGSLEA. That certainly is something that I would hope 

the intelligence community is investigating for the purpose of unVerDate Nov 24 2008 14:28 Jun 26, 2017 Jkt 046629 PO 00000 Frm 00025 Fmt 6633 Sfmt 6633 L:\HEARINGS 2017\05-16 NOMINATIONS\HEARING\25925.TXT JASON
22 

derstanding where assets are held, not only in the United States 

but potentially in offshore accounts elsewhere in the world. 

Senator KENNEDY. But let us start with the United States. You 

have had a lot of experience in Government. Do you believe that 

the U.S. Government has that information? 

Mr. BILLINGSLEA. I do not know if they have that information, 

Senator. 

Senator KENNEDY. I know that, but I am asking you, based on 

your experience, if you think we likely do. 

Mr. BILLINGSLEA. I genuinely do not know. It depends on how 

clever he has been at hiding his assets. 

Senator KENNEDY. All right. Well, let me ask you this: Tell me 

one more time where that information could be obtained if somebody had it. 

Mr. BILLINGSLEA. I would direct that question to Senator Coats, 

DNI Coats, the Director of National Intelligence. 

Senator KENNEDY. OK. Mr. Tarbert, you have got a fine young 

man here. He has been very good. Can you give me your thoughts 

about Glass–Steagall? 

Mr. TARBERT. My understanding is that the Administration is 

considering a 21st century version of the Glass–Steagall Act. I do 

not have any insight into what that is. I know Members of this 

body have introduced legislation of perhaps a similar nature. I do 

not have any views at this point, but I look—— 

Senator KENNEDY. You do not have any opinion at all about it? 

You have written extensively. What do you think of—— 

Mr. TARBERT. Well, my—— 

Senator KENNEDY. Good idea or bad idea? I am not asking you 

about the Administration. I am asking you. 

Mr. TARBERT. What I would say is that I believe that Federal deposit insurance should not subsidize nonbanking activities. Now, 

that is the current law of the land. It should not be controversial. 

I know there is a debate as to whether it has, in fact, been 

achieved. Glass–Steagall is obviously a prophylactic measure to address that, but it is not the only measure. So I look forward to seeing—I am not sure in my position, if confirmed, I would have any 

role in domestic financial legislation. 

Senator KENNEDY. I know, but I have read your resume. You 

have got deep experience in this. 

Ms. Ricardel—am I saying that right? 

Ms. RICARDEL. Yes, Senator. 

Senator KENNEDY. Could you give me your thoughts, if you have 

any, about the Belt and Road Initiative? Is it going to work? Is it 

worth the money? Is it something that we should be concerned 

about in terms of geopolitical effects? 

Ms. RICARDEL. Senator, I have only read some of the news reports. I would certainly want to look into it further, if confirmed, 

and see what intelligence we have on what other internal information we may have on it. 

Senator KENNEDY. Do you know if Vladimir Putin has assets in 

the United States? 

[Laughter.] 

Ms. RICARDEL. No, sir, I do not. 

Senator KENNEDY. Do you know who I could talk to? 

23 

Ms. RICARDEL. I think my colleague directing you to Director 

Coats—— 

Senator KENNEDY. He was not asked that question—— 

Ms. RICARDEL. ODNI Director Coats would probably be the right 

place to start. 

Senator KENNEDY. All right. Thank you, Mr. Chairman. 

Chairman CRAPO. Thank you. 

Senator Tester. 

Senator WARREN. He has offered to let me go ahead. 

Chairman CRAPO. Senator Warren. 

Senator WARREN. Thank you, Senator Tester, and thank you, 

Senator Warner. I appreciate it. 

So there are many questions about disturbing ties between the 

Trump administration and the Russian Government, and thanks to 

pressure from Congress, the Administration is currently enforcing 

sanctions on Russia. But I remain concerned that Russian influence could cause President Trump to roll back these sanctions. 

Russia’s behavior has not changed. In fact, last week, the Commander of Cyber Command publicly told the Armed Services Committee that he had seen no reduction in Russian cyberattacks. We 

know that Russia hacked into the American and French systems to 

try to influence the outcome of national elections. We also know 

that Russia is still illegally occupying Ukraine territory. 

Ms. Mandelker, as far as you know, based on public information, 

is Russia still engaging in cyberattacks and violating Ukraine’s territory? 

Ms. MANDELKER. Well, Senator, ODNI Coats testified about that 

last week. 

Senator WARREN. So is your answer yes? 

Ms. MANDELKER. According to his testimony, they are still engaging in problematic cyberactivity. I, of course, do not have access 

to—— 

Senator WARREN. So the answer is yes—— 

Ms. MANDELKER. ——the intelligence myself. 

Senator WARREN. OK. The answer is yes? 

Ms. MANDELKER. According to ODNI Coats—— 

Senator WARREN. OK, according to all the information available. 

OK. So let me just ask then, should we roll back our existing Russia sanctions without meaningful changes in Russia’s behavior? 

Ms. MANDELKER. No, Senator, I do not think so. Secretary 

Tillerson has spoken to that particular issue, and I—— 

Senator WARREN. So you will strongly support keeping those 

sanctions in place unless Russia changes its behavior? 

Ms. MANDELKER. Yes. 

Senator WARREN. Good. If you are confirmed to this job, we are 

going to expect you to be tough on Russia. 

The nuclear deal between the United States, five other world 

powers, and Iran imposed limits on Iran’s nuclear program and 

placed it under rigorous monitoring and inspections. Iran receives 

relief from economic sanctions as long as it remains in compliance 

with the agreement. 

Now, Donald Trump threatened to rip up the Iran deal, but last 

month, the Trump administration certified that Iran is complying 

24 

with the nuclear deal, which is required for Iran to get sanctions 

relief and to keep the agreement intact. 

Ms. Mandelker, if confirmed, you are going to be in charge of the 

Iran sanctions enforcement at Treasury. So do you agree with the 

Trump administration’s recent conclusion that Iran is complying 

with the nuclear deal? 

Ms. MANDELKER. Senator, I would defer to the Secretary of State 

on that. I do not have any reason to doubt it, but, of course, I am 

not in the Administration. I do not have access to—— 

Senator WARREN. OK. But the Secretary of State has said, so you 

would at least presumptively say yes and agree? That is what you 

are telling me? 

Ms. MANDELKER. Correct. 

Senator WARREN. I just want to make sure. 

So we expect Iran to live up to its commitments in the nuclear 

agreement. My question is: Should the United States do the same? 

Ms. MANDELKER. Well, Senator, as I think you know, the Administration is undertaking a 90-day review of the Iran policy and the 

JCPOA. As a general matter, I think the United States should live 

up to its commitments when it enters into international agreements. 

Senator WARREN. And is there some reason that you think there 

should be an exception in the case of Iran, if Iran is living up to 

its part of the agreement, that the United States should somehow 

back away from its part of the agreement? 

Ms. MANDELKER. Again, that very subject is part of the 90-day 

review, but as a general matter, to the extent that we have agreements, I think that the United States should live up to those agreements. 

Senator WARREN. And that would also apply in the case of Iran? 

Ms. MANDELKER. Yes. 

Senator WARREN. All right. Thank you. 

You know, the Iran nuclear deal is not perfect, but it is still our 

only realistic option to peacefully prevent Iran from developing a 

nuclear weapon. If the United States tears up the deal, we isolate 

ourselves instead of Iran, and we empower the Iranian hardliners 

who reject engagement with the West. I believe that makes the 

world less safe instead of more safe. 

Thank you, Mr. Chairman, and thank you again, Senator Tester 

and Senator Warner. And I would note I finished a minute early. 

Chairman CRAPO. Thank you. 

Senator Cotton. 

Senator COTTON. Ladies and gentlemen, thank you all for your 

testimony today and for your willingness to serve your country, 

once again in many cases, and thank you all to the family sitting 

behind you for supporting your family members for going back into 

Government. 

Ms. Mandelker, Senator Warren was just asking you about preserving Russian sanctions. Many of us over the last 2 or 4 years 

have advocated for even tougher sanctions against Russia. The 

Obama administration opposed those. Do you think there is room 

to add additional sanctions to Russia if the product review that is 

being undertaken now concludes that that would be in the United 

States’ interests? 

25 

Ms. MANDELKER. Well, if the policy review that is being undertaken comes to that conclusion, of course, as the Under Secretary 

of the Treasury, if confirmed, it would be my responsibility to lay 

out those options. And, of course, there is always room for enhanced capabilities. 

Senator COTTON. Enhanced sanctions capabilities that the 

Obama administration refused to pursue for 8 years. 

Ms. MANDELKER. Well, I cannot speak to the Obama administration, but I can assure you that I will lay out all of the potential 

options on the table. 

Senator COTTON. I can. 

Mr. Tarbert, I want to talk briefly about CFIUS and its role. 

What is its primary purpose, to promote investment into this country from abroad or to protect our security? 

Mr. TARBERT. To protect our security. 

Senator COTTON. When the call is close, do you view that the tie, 

so to speak, should go to protecting our security? 

Mr. TARBERT. The test by statute is no unresolved national security issues. So if there is a member agency that has a problem, 

then there is no tie. That trumps. 

Senator COTTON. It is an interesting statutory test, isn’t it, that 

all issues have to be resolved in favor of protecting our security before you get to the actual business case for the investment? 

Mr. TARBERT. Yes, and I would say there is not even a business 

case for the investment. It is presumed—— 

Senator COTTON. But speaking colloquially. 

Mr. TARBERT. Yes, absolutely. 

Senator COTTON. Is there room or need for reforming the CFIUS 

statute and process? 

Mr. TARBERT. If confirmed, that is something I would like to consider and look into. I do not know whether statutory changes are 

warranted or whether it is a matter of regulatory change or even 

just simply a resource issue. But that is an issue that I commit to 

studying, if confirmed. 

Senator COTTON. Ms. Ricardel, you look like you might have 

something to add? 

Ms. RICARDEL. No, I do not. I do think it is a very important statute, CFIUS. Commerce has an input into the process and there is 

a lot of legislative input and legislation regarding new ideas, 

which, if confirmed, I would look at closely. 

Senator COTTON. Thank you. I would simply say that while we 

want to promote investment in this country and there are many, 

many legitimate reasons why foreigners want to invest directly into 

the largest and most dynamic economy in the world, our foremost 

concern obviously has to be the protection of our national security. 

Ms. Mandelker, I want to speak in general about the offshore 

wealth protection and management industry. There are many countries, or you might call them ‘‘statelets’’, oftentimes in the Pacific 

or in the Caribbean or around the waters of Europe, that specialize 

in helping people hide or at least obscure the origins of certain 

kinds of wealth. Many times these are used by nefarious people for 

nefarious purposes—dictators and their families who are stealing 

national wealth, oligarchs, criminals, terrorists, deadbeat husbands 

who do not want to reveal assets to the wives they are about to 

26 

divorce. But at the same time, there is a legitimate business purpose for American corporations in particular who are dealing in the 

global economy to create corporate entities overseas. 

How could we as a Congress balance those two competing interests by making sure that American businesses can remain competitive in the global market, but at the same time trying to get after 

some of the illicit monies that are being hidden in lands that oftentimes have more bank accounts than they have residents? 

Ms. MANDELKER. Well, Senator, of course, my responsibility will 

be to make sure that we understand who the beneficial owners are, 

how can we identify who the illicit actors are. Of course, I would 

be happy to study that issue further. I think it is—you point out 

that it is an important balance, and I would want to review that 

with not just the Treasury Department. It is really a much wider 

question that would also go to the Justice Department and other 

agencies. 

Senator COTTON. It goes to Treasury and the IRS as well. It is 

a difficult question because American businesses do have their legitimate reasons to have dealings in some of these overseas territories. But at the same time, I think it is fair to say that there are 

a lot of nefarious characters around the world and some Americans 

here who are hiding assets from spouses about to be divorced, for 

instance, who are able to move billions and sometimes even trillions of dollars in aggregate around the world. And I think it is 

something that this Congress should address, and it is something 

that we need to address because we do not want them to take advantage of the U.S. financial system or to buildup the kind of entrenched domestic interests that you have seen now in some Western European capitals that influence the policy of those capitals toward certain countries. So thank you for that commitment. 

Thank you all again for your testimony and for your willingness 

to serve. 

Chairman CRAPO. Thank you. 

And back to you, Senator Tester. 

Senator TESTER. Thank you, Mr. Chairman. I appreciate you 

having this hearing today, and I appreciate how you run this Committee. 

We have got four appointees here today for important positions 

that appear to be well qualified, and I want to thank you for being 

willing to serve in these capacities. It has occurred to me this is 

not the first time we have had four well-qualified people. It may 

be the first time we have had four well qualified, by the way, because usually it is one at a time. But it does take me back to a 

time when I would wonder if we would have this hearing at all if 

we had a different President that had just fired the Director of the 

FBI apparently for doing an investigation, maybe another President or not, and a President who has just been accused of transferring top secret information to a foe of ours. And I just wonder if 

we would be having this hearing at all if it was on a different foot. 

But, nonetheless, I appreciate you guys coming forward and 

being willing to serve. I think your positions, as has been indicated 

earlier, are very, very important, and we need to take this seriously. 

27 

I am going to start with you, Ms. Mandelker. First of all, I want 

to thank you for telling a little bit about your life story and your 

father’s story. I was watching your father as you were telling that 

story, and it was etched on his face what was going through his 

mind, and so I appreciate that very much. As the Senator from 

North Dakota and I were visiting, this is a country of immigrants, 

and you have proven that, both you and Ms. Ricardel. 

The Ranking Member asked a question about an allied Nation, 

an ally of ours that had given us sensitive information, and that 

sensitive information was handed over to a foe, whether that would 

impact that ally of ours giving further information. I do not know 

the specifics of that question, but I thought it was pretty clear, and 

I do not think you gave him a clear answer, and so I am going to 

revisit it. 

If an ally of ours gives us sensitive information and that sensitive information was transferred to an enemy of ours and the 

ally’s, do you think it would impact that ally giving us further sensitive information? 

Ms. MANDELKER. Senator, I do not know the answer to that question. I think it would have to depend on the particular set of facts 

and circumstances. I think—— 

Senator TESTER. Which is what you said before. 

Ms. MANDELKER. I think—— 

Senator TESTER. The question is: Wouldn’t human nature dictate 

that, hell, no, they would not give us information again? 

Ms. MANDELKER. Again, I think it depends on the complexities 

of the relationship, the type of information that you are—that was 

communicated, the assurances that had been given on either side. 

So it is difficult for me to answer a hypothetical without understanding all of the facts and circumstances. Of course, I agree that 

it is very important to safeguard the intelligence that we receive. 

Senator TESTER. OK. This has not happened to me as a Ranking 

Member, but it has happened to many of our Ranking Members, 

and it is what the Ranking Member of this Committee said, that 

we ask people from the Administration for information, and they 

are either directed by somebody above them or they choose not to 

give information back. This is a question for all four of you. If we 

ask a question, either verbally or in writing, will you promise to 

get back to us? 

Ms. MANDELKER. Yes. 

Ms. RICARDEL. Yes, sir. 

Mr. BILLINGSLEA. Absolutely. 

Mr. TARBERT. Yes. 

Senator TESTER. OK. Thank you. Going back on the Russia stuff 

for a second, Ms. Mandelker—and Senator Cotton talked about it 

for a little bit, and Senator Warren talked about it, too—it is apparent that Russian officials have been involved with Syrian leadership for some time. There have been innocent civilians killed in 

Syria due much, I think, because of that relationship. Do you think 

that that should require further sanctions on Russia, that relationship and what Syria has done because of that relationship? 

Ms. MANDELKER. Well, Senator, I am, of course, just like you, 

very disturbed by what we are seeing in Syria, including the news 

28 

that we heard yesterday. Whether or not we go the route of sanctions is a difficult and complex question, and—— 

Senator TESTER. Wouldn’t it be smarter to do that than put boots 

on the ground or drop bombs? Wouldn’t that be the smart—— 

Ms. MANDELKER. Well, going the non-kinetic way is obviously a 

more peaceful—is a more peaceful solution, but, again, it is difficult 

for me to address what are our options or what decisions we might 

make in any particular circumstance. Sanctions is one very important tool that we have to address behavior that we are concerned 

by. It is not the only tool, and we would want to consider it in light 

of all of the policy considerations that—— 

Senator TESTER. But the sanctions are a tool that you are in 

charge of. 

Ms. MANDELKER. That is right, Senator. 

Senator TESTER. OK. Let us talk about the U.S. trade embargo 

against Cuba. Do you believe that embargo should be lifted? 

Ms. MANDELKER. Senator, that is something that I would want 

to study, should I be confirmed, and carefully review within the 

Administration. I know that there is an ongoing policy review 

about Cuba that is—— 

Senator TESTER. How about exemptions—— 

Ms. MANDELKER. ——I do not want to prejudge that. 

Senator TESTER. Would you agree there should be some exemptions? I am taking some of Warner’s minute, by the way. Do you 

think there should be exemptions to that trade embargo? 

Ms. MANDELKER. Again, it is something that I would commit to 

studying and to reviewing. I do not want to prejudge the outcome 

of that question before I have a chance to look into it further. 

Senator TESTER. Thank you for being here. You are all really 

good. I would just hope for better answers because you guys know 

what you think. You are smart people. You are a hell of a lot 

smarter than the people up here. OK? 

Thank you very much. 

Chairman CRAPO. Senator Warner. 

Senator WARNER. I take exception to that. 

[Laughter.] 

Senator TESTER. Sorry. 

Senator WARNER. Ms. Mandelker, I appreciated the meeting we 

had on May 4th in my office, and as I said at that point, you have 

had some very strong recommendations, people that we mutually 

know. And echoing what Senator Tester said, I think your background shows that you are well suited for this position in the Administration. 

But as we discussed in my office, Senator Burr and I, in our role 

of leading the Intelligence Committee’s Russia investigation, sent 

a letter to Treasury’s Terrorism and Financial Intelligence Office 

on April 26th. In that letter we requested documentation from 

FinCEN that will be absolutely critical to the Russia investigation. 

Our asks include things like the FinCEN flash notices and the 

314(a) requests. 

I know that we have received a preliminary response from Treasury that they are ‘‘working on it.’’ Well, I got to tell you, that is 

not good enough for an investigation that is so critical, that is 

dominating the news, that is dominating Americans’ attention, that 

29 

we are virtually a month later and we are getting a ‘‘working on 

it.’’ 

So as I told you in my office, I cannot support moving forward 

with your nomination until the questions that Chairman Burr and 

I get a full answer. This investigation, I believe, is the most important thing I will ever have taken on in my public life, and we are 

going to need the full cooperation of not just Treasury but all aspects of Government if it is appropriate for us to look into those 

areas. And, clearly, the follow-the-money route is one of the areas 

that is critically important. 

Mr. Billingslea, I understand that you were a member of the 

Trump transition team supporting national security. I also understand from press reports that you were instrumental in preparing 

Lieutenant General Flynn for a meeting with Russian ambassador 

Kislyak. In those same press reports, there was information about 

your efforts to ensure that General Flynn understood the risks of 

talking to Ambassador Kislyak and that you sought classified information about the Ambassador for General Flynn to ensure that he 

was fully aware of the risks he was taking. 

Now, I appreciate, again, your background as well. I think you 

are well qualified. I want to simply state for the record as well I 

appreciate the fact that you voluntarily came in and talked to Intelligence Committee staff yesterday, and I think that was a sign 

of good faith, and I appreciate your willingness to continue to cooperate if there is other information we need. 

So I want to ask all four of you, and recognizing that we are in 

this investigation going in areas that, frankly, are uncharted territory, we have access to raw intelligence that has never been provided before because the potential charges of collaboration or collusion between a foreign power and a campaign operation and potentially an Administration have never been explored before. 

It has taken us some time, but the intelligence community has 

cooperated in those efforts because I think they realize how serious 

it is. And, if anything, the attention and focus gets even hotter in 

light of some of the President’s actions last week. 

So what I am asking all four of you, but particularly Ms. 

Mandelker and Mr. Billingslea, would be that, should you be confirmed, will you cooperate with the requests of the Intelligence 

Committee to provide information that is requested and do that in 

a timely manner and a complete manner? 

Ms. MANDELKER. Yes. 

Mr. BILLINGSLEA. Yes, Senator. 

Ms. RICARDEL. Yes, Senator. 

Mr. TARBERT. Yes, Senator. 

Senator WARNER. Well, I think that is very important. You know, 

the sooner we can complete this process, the sooner we can either 

remove the cloud that hangs over this Administration or get to the 

bottom if there are circumstances that some of the press reports 

bear out to be true. And to do that, we are going to need everyone’s 

cooperation. This is a really important time, a dangerous time, a 

challenging time. I think you have heard from both sides of the 

aisle real concerns about Russia and their attempts not only to intervene in our elections, the French elections, and I think you will 

30 

see it in the German elections, their actions in Ukraine. And if 

there is ever a time that we must be vigilant, it is now. 

Thank you, Mr. Chairman. 

Chairman CRAPO. Thank you, Senator. 

Senator Cortez Masto. 

Senator CORTEZ MASTO. Thank you, Mr. Chair. And thank you 

to all of you, and let me just say, first of all, thank you for taking 

the time to come visit with me. I really appreciate it. And welcome 

to all of your family who have been sitting here now for it seems 

like days. But we will end soon. Do not worry. 

Let me follow up with some of the questions, and let me start 

with Mr. Tarbert. If confirmed to the position for which you are 

nominated—and we have been talking about this. You will be leading the Treasury Department’s work related to the Committee on 

Foreign Investment in the United States. As it stands now, the 

public has no idea what President Trump’s investments consist of 

because he will not release his tax returns, and meanwhile, we are 

reading in the papers that members of the President’s extended 

family are going to China looking for investors in various business 

ventures and playing up their connections to the Oval Office. 

If confirmed, could President Trump and his family’s vast global 

business entanglements complicate your efforts to lead the Treasury’s work on the Committee on Foreign Investment in the U.S.? 

Mr. TARBERT. I do not believe so. If confirmed, I am committed 

to applying the law, and the law requires that for any covered 

transaction there be no national security concerns. 

Senator CORTEZ MASTO. And how can we be sure about that 

transparency? How does the public know that you are making 

those decisions when it comes to our President and his interactions 

with foreign investments, including his family members? 

Mr. TARBERT. The CFIUS process, most of it is obviously classified, but FINSA has provisions whereby Congress and this Committee in particular can exercise oversight. 

Senator CORTEZ MASTO. So let me ask you this: If it comes up 

that there is that entanglement, are you committed to ensuring 

that the public has a full airing and understanding of your decisions when it comes to whether the President’s involvement or his 

family’s involvement with foreign investments and likewise? 

Mr. TARBERT. I am committed to following all applicable laws 

and regulations and being as transparent as I can in compliance 

with those laws and regulations. 

Senator CORTEZ MASTO. OK. Let me follow up on another thing 

we did not get a chance to talk about and I am not sure whether 

you are familiar with or not, which is MoneyGram. If confirmed to 

this position, you will be leading, again, the Committee on Foreign 

Investment, and as someone with a background in law enforcement, I know that working with money transfer companies is key 

to identifying, catching, and stopping illicit financing. 

If confirmed, how will you evaluate the proposed MoneyGram 

purchase by a company in part owned by Chinese State in terms 

of its impact on U.S. national security? 

Mr. TARBERT. Thank you, Senator. I am going to refrain from 

speaking about any particular case, but the general thrust of your 

question about money transmitters I think is an important one and 

31 

also referencing a State-owned company. Right now, under the 

CFIUS process, a State-owned company automatically triggers in 

the investigation phase. So, if confirmed, I would use all available 

resources to ensure that there are no unresolved national security 

concerns. 

Senator CORTEZ MASTO. OK. And them I am going to follow up 

with some similar line of questioning based on your previous experiences, some of the articles that you have written. You have written extensively on the Wall Street Reform Act’s resolution planning 

provisions, including living wills. These documents require large financial companies to document how they could fail without harming Main Street. Some want to eliminate or weaken the act’s provisions in this regard. What is your opinion? 

Mr. TARBERT. I think the resolution process—so the living wills 

that you referred to, under Title I, which requires large systemically important financial institutions or anyone caught under that 

to present a plan as to how they could be resolved under the Bankruptcy Code, I think that, at least from a personal standpoint, is 

a worthwhile exercise. 

Senator CORTEZ MASTO. OK. 

Mr. TARBERT. Now, again, my position is—if confirmed, I would 

be potentially representing the U.S. at the international level, so 

I do not believe I would personally have a role in Dodd–Frank or 

legislation dealing with domestic finance. 

Senator CORTEZ MASTO. Thank you. I appreciate that. And thank 

you again. Good luck to all of you. And I appreciate you seriously 

taking the time to sit and visit with me. 

Chairman CRAPO. Senator Heitkamp. 

Senator HEITKAMP. Thank you, Mr. Chairman. And thanks to all 

of you for your willingness to serve our country. Many of you have 

incredible resumes—all of you have incredible resumes. 

I think that it is not unfair to ask you this question: Who is your 

loyalty to? Once you are confirmed and if you are confirmed, who 

do you serve and who is your loyalty to? We will start with Ms. 

Mandelker. 

Ms. MANDELKER. My loyalty is to the American people. 

Ms. RICARDEL. My loyalty is also to the American people and to 

the laws that govern this country. 

Mr. BILLINGSLEA. Senator, my loyalty is both to the American 

people and to the Constitution. 

Mr. TARBERT. Yes, the Constitution and the American people. 

Senator HEITKAMP. It is critically important to remember that. 

Sometimes when you are confirmed and people give you positions 

like this, there may come a time when you are asked to do something that is not in the interest of the American people, that is not 

in the interest of our checks and balances system in the Constitution, and that will, in fact, jeopardize our national security. And I 

think it is fair to ask that question today, and so I want to thank 

you all for the answer. I believe that you are earnest about this. 

But we all know that there is a slippery slope, and little compromises lead to big compromises. And it is critically important, 

hopefully—I do not mean to be lecturing here, but that you remember that as you serve once you are confirmed. 

32 

I want to talk first, Ms. Mandelker, first off just tell you how 

moving your family’s story is and how grateful we are, and I think 

I believe your answer a little bit more as a result of the challenges 

that your family has experienced. But I want to talk about a hearing that we had last week. We heard from two previous distinguished incumbents of the position that you are nominated to 

about both the value and the limitations of secondary sanctions. 

How would you go about thinking whether to apply this relatively blunt instrument? And what steps can Treasury take to ensure that sanctions advance tailored national security instruments 

without unleashing unintended consequences? And I would just tell 

you I think that when we are looking at this, this is going to become a critical piece, and it is very important that you be clear on 

how you see secondary sanctions. 

Ms. MANDELKER. Thank you, Senator, for that question, and obviously, it is something that I have been thinking about. I had the 

opportunity to watch the testimony last week, which I thought was 

very useful. Both witnesses had excellent ideas, and I appreciate 

their testimony and their counsel. 

Issuing secondary sanctions is a blunt instrument. It is an instrument, of course, that worked. It was very impactful when it 

came to how we used it, how the U.S. Government used it in Iran. 

It is something that I think we have to consider carefully, but we 

also have to understand what the secondary and tertiary impact 

might be of using those secondary sanctions. It is something that 

I will look forward to engaging in a robust conversation within the 

interagency. It is going to be very important that we have a fulsome understanding of what the impact would be, both in executing our national security strategy and then in the other impact 

it might have on the economy. 

Senator HEITKAMP. Thank you so much. 

Mr. Billingslea, in your testimony you reference the importance 

of buy-in from friendly Nations when ratcheting up pressure on terrorist financing. Trust is a huge factor in this with everyone concerned. What has been your experience at NATO and elsewhere in 

your career that taught you the importance of forging these alliances and building trust? And do you think that trust based on 

tweet is a good way to advance our foreign policy interests? 

Mr. BILLINGSLEA. Senator, my daughters will tell you I do not 

have a Twitter account. I do not have it on my iPhone. 

You know, as Winston Churchill famously said, you know, the 

only thing worse than fighting with your allies is fighting without 

them. And so it is crucial, it is painstaking. It requires that you 

sometimes control your inner voice when you work with allies, but 

it is essential to bring them along and work very closely with them, 

particularly—— 

Senator HEITKAMP. Do you think it is important to communicate 

with them in a way that respects them? 

Mr. BILLINGSLEA. Absolutely. These are sovereign Nations. 

Senator HEITKAMP. So do I, and I think that one of the things 

that we have to be very, very careful in this environment is understanding who our allies are and who our allies are not. And I think 

the recent examples of disclosing classified information to foes is 

not a step in the right direction, and I hope that if you guys are 

33 

all confirmed, the advice that you provide will be advice that will 

be heeded by the White House. 

Chairman CRAPO. Thank you. 

Senator Van Hollen. 

Senator VAN HOLLEN. Thank you, Mr. Chairman. I would like to 

join my colleagues in welcoming all of you. Thank you for your testimony. Welcome to your families. 

I do want to associate myself with the remarks of Senator Warner with respect to the information that has been requested by the 

Congress of the Treasury Department. 

Ms. Mandelker, I think you are responsible for a lot of the areas 

regarding preventing money laundering, and others will be as well. 

And I wanted to follow up on a line of questioning that I think Senator Cotton started with respect to being able to figure out the beneficial ownership interests, because we know the Russians as well 

as many others try to use the U.S. market to launder money, the 

Russians especially in the area of real estate. And one of the tools 

that the Obama administration developed to try and fight that was 

FinCEN’s geographic targeting order, looking at high-risk regions, 

including South Florida, New York. My understanding is the 

Trump administration has extended this effort through August, 

and my question is: Do you believe this is a useful tool? And do 

you plan, if confirmed, to extend this beyond August? 

Ms. MANDELKER. I do agree that it is a very useful tool. I know 

both from my experience in Government service and in the private 

sector that understanding who the beneficial owners are of any 

particular entity can be extraordinarily valuable. It is something 

that I will look forward to discussing with the career professionals 

of FinCEN. And I would be happy to get back to you. But I think 

that those tools, the geographic targeting orders, can provide us 

with an enormous amount of very valuable information, and I look 

forward to using it not just in this area, but in others as well. 

Senator VAN HOLLEN. Well, thank you. And I do want to say, Mr. 

Chairman and Ranking Member, there are a number of States— 

I think there are about three States that have really made a specialty of welcoming money that cannot be tracked, and I do hope 

this Committee will begin to look into that issue because it is in 

contradiction, it conflicts with the Federal focus on trying to get to 

the bottom of money laundering. 

My colleague Senator Heitkamp raised the issue of secondary 

sanctions, and you yourself pointed out that they were very effective. You said it worked with respect to bringing Iran to the negotiating table. Congress worked on that on a bipartisan basis. The 

Obama administration supported those efforts. 

We all know that North Korea has been working to develop an 

intercontinental ballistic missile that can reach the United States. 

We know that they have successfully tested and have a number of 

nuclear weapons. And we have heard, you know, from the Trump 

administration a variety of possible policy responses, including 

talking about potential military action. 

In my view, that is premature until we have exhausted the other 

alternatives, and one of those other alternatives is secondary sanctions. The reality is that North Korea GDP runs about $30 billion 

a year, according to most estimates. They do have access to interVerDate Nov 24 2008 14:28 Jun 26, 2017 Jkt 046629 PO 00000 Frm 00037 Fmt 6633 Sfmt 6633 L:\HEARINGS 2017\05-16 NOMINATIONS\HEARING\25925.TXT JASON
34 

national supply chains. Obviously, China is the major conduit for 

their economic activity. 

The House passed legislation on North Korea sanctions. I am 

working with some others on expanding on that idea, including secondary sanctions on North Korea. And so my question to you is: Do 

you think that would be an effective way to put more pressure on 

North Korea as a means to address their clearly hostile actions 

that they are taking? 

Ms. MANDELKER. Thank you for that question, and I know this 

Committee and other Members of the Congress have showed a lot 

of leadership when it comes to deploying those tools, and I would 

look forward to working with you on that particular question. I do 

not want to confine myself to agreeing to any particular option. 

What I can tell you is that we need to study the use of secondary 

sanctions in this context very carefully and closely. That discussion 

has to be part of the robust interagency discussion that I am sure 

by all accounts is very much underway now in the Administration. 

And what I will commit to you is that I will review it very carefully. I will discuss it within the interagency, and I would look forward to having conversations with this Committee about what options will be the most effective in disrupting the North Korea 

threat, because as I said at the outset, that is really going to be 

at the top of my agenda. 

Senator VAN HOLLEN. Well, good, and I think we all share your 

conclusion, at least speaking for myself, your conclusion that that 

effort did work with respect to bringing the Iranians to the negotiating table. So I look forward to working with you on that, and I 

thank all of you for your testimony. 

Thank you, Mr. Chairman. 

Chairman CRAPO. Thank you. 

Senator Schatz. 

Senator SCHATZ. Thank you, Mr. Chairman. Thank you all for 

coming here. Thank you to the families for allowing your spouses 

and parents and children to be public servants. 

This is a question for the three Treasury nominees. The success 

of your future work in stopping illicit finance flows and keeping 

dangerous technologies out of the hands of our enemies depends on 

well-crafted diplomacy. But I am extremely concerned that vacancies at high levels of the Administration are preventing us from 

successfully crafting a response to international threats. 

For example, we do not have any regional Assistant Secretaries. 

None. We also do not have an Assistant Secretary for Economic 

and Business Affairs. This is the person at State who works together with Treasury to develop and implement economic sanctions. We also do not have an Assistant Secretary for International 

Narcotics and Law Enforcement. This is the person who bolsters 

Treasury’s work by helping countries to counter illicit narcotics 

trade and other international crimes. 

These are just a few examples. They are the people responsible 

for crafting and implementing strategies that make use of all of our 

tools of national power, including what Treasury is trying to do 

through sanctions. And these positions remain empty—not just not 

confirmed but no nominees. 

35 

How do you think that these State Department vacancies will 

impact your ability to do your jobs? 

Ms. MANDELKER. Senator, I am not familiar with the positions at 

the State Department that remain open. What I can tell you, having worked at the Justice Department and Department of Homeland Security in the past, and having worked closely with the State 

Department, there are many very talented people who are there 

and regardless—— 

Senator SCHATZ. Let me—excuse me. Does this sound like a 

problem to you? 

Ms. MANDELKER. Well, Senator, I am very much in favor of nominating and confirming political positions, so I would hope that the 

Congress would move expeditiously in that direction. 

Senator SCHATZ. And we need to have nominees in order to consider them. 

Mr. Billingslea. 

Mr. BILLINGSLEA. Yes, Senator, I very much would like to have 

counterparts to work with. 

Mr. TARBERT. I agree as well. 

Senator SCHATZ. Following up on the line of questioning on this 

side of the dais around loyalty, I am going to be very blunt in 

terms of the interactions you may have had with either the Administration or the transition. Did anybody ask you for loyalty? 

Ms. MANDELKER. No, Senator. That is not a conversation that I 

have had. 

Ms. RICARDEL. No, sir. 

Mr. BILLINGSLEA. No, Senator. 

Mr. TARBERT. No, Senator. 

Senator SCHATZ. Following up on the line of questioning of the 

Ranking Member of the Intelligence Committee, I understand that 

it is Treasury professionals that have to get back to the Members 

on the Committee who made the request of FinCEN. But do you 

think that the Congress deserves an expeditious response to these 

requests? 

Ms. MANDELKER. Yes. 

Ms. RICARDEL. Yes, sir, I do. 

Mr. BILLINGSLEA. Yes, sir. 

Mr. TARBERT. Yes. 

Senator SCHATZ. I will be quick because a lot of the questions 

have been asked, but I just want to put a fine point on it. In the 

context of what is going on, it seems to me that people of good will 

and good faith and loyalty to the Constitution and laws of the 

United States, loyalty to country, are being put in impossible positions in this Administration. And so I never thought I would have 

to ask this question, and I know the answer that you will all provide, and I believe you in this moment. But I want to hear it from 

you. If there is a moment when you have to choose between loyalty 

to law and the country and loyalty to party and the White House, 

what will you choose? 

Ms. MANDELKER. Senator, as I have always conducted myself in 

Government service, my loyalty is to the American people and to 

the laws of our country. 

Ms. RICARDEL. I will always put laws of the country first. 

36 

Mr. BILLINGSLEA. Senator, likewise. My loyalty is to the United 

States Constitution. 

Mr. TARBERT. The Constitution and the American people. 

Senator SCHATZ. Thank you. 

Chairman CRAPO. Do you have anything? 

Senator BROWN. Just one comment. Thank you, and thanks to all 

four of you, and again to your families. And, Ms. Mandelker, your 

story of your father was so meaningful, and we all were watching 

him as you were talking, and it was so inspiring. Thank you. 

I think that Senator Schatz’s question and Senator Heitkamp’s 

speak volumes about the situation you are going in. We do appreciate your willingness to serve. We do not question the ethics of 

any of you. But I have never sat—I have been in this Senate now 

almost 11 years, and I have never heard the kinds of questions 

that he posed asked with—I have been here through Presidents 

of—three different Presidents, and I was in the House with two 

others, and I think it is really important that, as you leave here 

today, you think about that question. And I hope you are not put 

in that position, but the first 120 days or so of this President suggests that you might be. And I know you take your responsibilities 

seriously. I know you will, and we are counting on you to do the 

right thing. 

Thank you, Mr. Chairman. 

Chairman CRAPO. Thank you, Senator Brown. 

That concludes the questioning and the hearing, with the exception of final announcements. Before I do that, though, I want to 

again thank each of you for coming and participating today here 

at the hearing. I thank you for your service and your willingness 

to give more service to the country, and I appreciate that. 

For Senators, all follow-on questions need to be submitted by 

Thursday. And for our witnesses, responses to those questions are 

due on Monday. So please respond quickly to the questions you get. 

With that, this hearing is adjourned. 

[Whereupon, at 11:50 a.m., the hearing was adjourned.] 

[Prepared statements, biographical sketches of nominees, responses to written questions, and additional material supplied for 

the record follow:] 

37 

PREPARED STATEMENT OF SIGAL P. MANDELKER 

TO BE UNDER SECRETARY FOR TERRORISM AND FINANCIAL INTELLIGENCE, 

DEPARTMENT OF THE TREASURY

MAY 16, 2017 

Chairman Crapo, Ranking Member Brown, and Members of the Committee, it is 

a great honor to appear before you as the President’s nominee to be the Under Secretary to lead the Office of Terrorism and Financial Intelligence. I thank the President and the Secretary for their trust and confidence in me. I have had the opportunity to meet with many of you and your staff over the last few weeks and I want 

to thank you for the courtesies you have extended to me. I look forward to working 

closely with this Committee if I am honored to be confirmed. 

I am grateful for the tremendous support of my family and friends, including 

those who have traveled to attend this hearing. I want to recognize in particular 

two of my heroes and constant sources of inspiration, my father, Gershon 

Mandelker, who is here today, and my wonderfully lovely mother, Ester Mandelker, 

who passed away 12 years ago. Both of them were Holocaust survivors who spent 

part of their childhood hiding underground, in the forest, and elsewhere in constant 

fear for their lives as they tried to escape the Nazis. My father tells one story about 

how, when he was around 6 years old, he was hiding with my grandfather and others in a barn that belonged to the head of a village, a courageous man who agreed 

to hide them. My father recalls that one day, soldiers came into the barn in order 

to decide whether to park their guns and horses there. My father was hiding under 

a haystack as the soldiers walked in, looked around, and then decided not to use 

the barn. My father vividly remembers watching the boots of one of the soldiers as 

he walked by. Had my father so much as sneezed, I would not be sitting here before 

you in this Committee room. 

I grew up hearing about my parents’ many courageous stories of survival and how 

they narrowly avoided death. At the same time, I knew that so many members of 

my family did not survive, including three of my grandparents who were either 

killed or died as a result of the Holocaust. With this history, my parents not only 

survived but went on to pursue successful careers and served as incredibly positive 

role models. They raised my brother and me with enormous love and a deep appreciation for the opportunities that our great Nation provides and the knowledge that 

we should never take for granted our safety, security, and freedom. I carry this legacy with me and it has always been what has motivated me to public service, for 

the opportunity to make a difference is truly humbling. 

After 9/11, like so many other Americans, I wanted nothing more than to contribute to the response to this terrible attack on our Nation. After finishing a clerkship, I immediately went to work for the Justice Department in August 2002, where 

I joined in its counterterrorism and national security mission in positions in both 

the Criminal Division and later the Deputy Attorney General’s Office. With the Nation on high alert for follow on attacks, I worked as part of the dedicated team that 

oversaw the Nation’s counterterrorism and national security criminal cases, including those involving illicit financing of terrorism. After then going on to serve as an 

Assistant United States Attorney in the Southern District of New York, I came back 

to Washington to work as a Counselor to the Secretary of Homeland Security, where 

I focused again on counterterrorism, national security, law enforcement, and intelligence. In 2006, I returned to the Justice Department to be Deputy Assistant Attorney General in the Criminal Division, where I supervised four major sections, leading the many talented prosecutors and other professionals in those sections, and had 

a portfolio that included ground-breaking and cross-border cybersecurity, human 

rights, money laundering, and other cases that involved the intersection of national 

security and law enforcement. In 2009, I joined the private sector, where I have 

gained valuable and practical insights into the compliance issues that financial institutions and other companies face on a regular basis. 

I am particularly honored to be nominated for this position, which serves such an 

important function in our national security, foreign policy, and economic apparatus. 

If confirmed, I will strategically and tactically marshal all of the tools of the Office 

of Terrorism and Financial Intelligence, and will constantly evaluate how to evolve 

those tools to meet new challenges, and to always be proactive, intelligence driven, 

and results oriented. I am looking forward to working with and leading the talented 

and dedicated career professionals in the Office of Terrorism and Financial Intelligence. I will also work closely both with this Committee and the interagency to 

ensure that we use all of the elements of Government power in the most effective 

way to achieve the objectives we set for ourselves and for the country. 

38 

Finally, from my time in the Executive Branch, I know how important it is to 

have a close relationship with Congress. I have thoroughly enjoyed my discussions 

with so many of you and I look forward to doing important work together should 

I be honored to be confirmed. 

39 


51617001.eps

STATEMENT FOR COMPLETION BY PRESIDENTIAL NOMINEES 

Name: Maacldku 

(last) 

Sip! 

(F"ont) 

Peul 

(Oilier} 

Posltloa to wblcll nominated: Under Stcrtttry of the Trwury for Terrorism and Fi111nclal 

illteiiJ&alce 

Date of 10111iutloa: 

Datt or blrtl: 29 u 1971 Pbeeofblrtb: Olbco,IL 

(o.rl (Moo6) (Y.., 

Mtrlttl StttuJ: Married FUO name of spouse: Stma Da~d Capozzoli 

Name aad aces of diUdm: 

Uat Mandclker, ageS 

Edacatloa: 

Institution 

University of Michigan 

Dales 

llteoded 

1989-1993 

Ileps 

received 

B.A. 

Uoiversity of PawylvuiJ Law Scbool 1997-2000 JD. 

April1993 

MJy2000 

Boa on 

aad awarcb: 

List below aD scholarships. fellowslliJl\ bonoruy dtps, mililary medals, bonoruy 

society membenhips and any other special recognitions for outstanding service or 

achievement 

• New York Super Lawym, 2013·2016 

• The Lep1 SOO United States: Litigation: White Collar Criminal Defense, 201 5·2016 

• The Lep1 SOO United States: Tcclmology: Data Protection & PriVIC}',2016 

• The Lep1 SOO UDittd States: Media, Tedmology, and Telecoms: Cybc:r Qime, 2014 

• New York Super !.aw)m Rising Star, Criminal Defense: White Collar, 2012 

• AadanyofWomt~~l.aden, YWCA-NYC,2012 

• ICE Award for Exl1dleoce in Reoognition of Contnl>utioo to Law Enfoo:emen1 Ctoss-Ag=y 

lnvestigatioos and Prosecutions of Hllllllll Rights Abusers, 2009 

• Intelligence Community Lep1 Award, Team of the Year, Cyber Legal, 2008 

• Assistant Attorney General's Award for Intra-Departmental Cooperation, 2007 

• Director' a Reoognition Award, U.S. Seem Service, 2006 

• Depenment of Homeland Security Reoognition for Contnl>utions 10 the Ill Dorado Task Fora:, 2005 

• UniVU'SityofPCiliiS)'Iv!nia Law Review, Micles Editor 
40 


51617002.eps

Memberships: List below all memberships and offices held in professional, fraternal, business, scholarly, 

civic, charitable and other organizations. 

Organization Office beld (if any) 

American Bar Association: 

New York City Bar Association 

Dates 

912011- 312013 

612009-412015 

New York State Bar Association 

Federal Bar Council 

Secretary, Council on International Affairs 

2009-2013 

Federalist Society 

InternatioMI & National Security Law ExecuJive Committee 

U.S. Chamber Litigation Center Advisory CQmmittee 

Delta Phi Epsilon 

July 2014 - present 

1997 - 1999 

Approx. 2009- present 

July2014 - present 

1989- 1991 

Employment record: List below all positions held since college, including !he title or description of job, name 

of employment, location of work, and inclusive dates of employment. 

Proskaaer Rose LLP, New York, NY 

Partner 

Senior Counsel 

11111-present 

5/09-10111 

U.S. Department of Jusdce, Criminal Dlvts1oa, Washillgton, DC 

Deputy Assistant Allorney Genua~ Member of the Senior Executive Smice . 7106-1/09 

U.S. Department of Homeland Secarlty, Ofllce of the Secretary, Wasblngton, DC 

Counselor(() the Secretary, Member of the Senior Executive Service 3105-1106 

United Statts Attoraey's Office, Soulhera District of New York, New York, NY 

Assistanl UnUtd States A/t()rney 1104-3105 

U.S. Depal1meat of Justice, Office of the Deputy Attorney General, Washington, DC 

Ccunselto the Deputy Altomey General 5/03-1104 

U.S. Department of Justice, Crimiaal Division, Washillgton, DC 

Special Assistant to the Assistlllll Attomey General 

Jusdee <laret~ee Thomas, UDited States Svpreme Court, Washington, DC 

Law Clerk 

Judge Editk B. Jones, United States Court of Appeals, Fifth Circuit, Houstoa, TX 

8102-5103 

1101-1102 

Law Cleric 8100-7/01 

UDited States Attorney's Office, Sou!Wrn District of New York, New York, NY 

Summer Intent Summer 1999 
41 


51617003.eps

Sl.lnmer 1999 

Uaited Stlla At!Qrney's Office, Eattro Dlsttict of PeJW}Ivuia, nillclelphla, PA 

lntmt Wmter 1999 

Judge Royce Lamberth, Ullited States Dbtrict Coert for tk Dbtrkt of Cohunbla 

SUIIIIMr Low Cluk Swnmer 1998 

U.S. H0111e Majority Leader Rlclwd ArDley, Wuhlngto11, DC 

Dtpury Carurdtt« Uaison 

PllilGnmmforPraldeatCulpalp, W~DC 

NaJioMJ CoalldMs Suiff 

American brae! Public Affain Committee (AlP A C), Wuhlngto11, DC 

Leglslaliw A.rslstant · 

U.S. Otpart.at of Defeast, Office of Noa.·Prollfentloa Polley, Wu .Ligtoo, DC 

1996-1997 

l99S-1996 

1993·1995 

Sumnter lntmt SUl!U11et 1993 

NatiOIIal Jewbll OlaUtioa (Jlepablicaa Jewish Coatitloe), Wublll&t011, DC 

SIDMID'lntmt Summerl993 

Govtl'llmeat 

uperieau: List any expericnct in or direct association with Fedtnl, State, or local governments, 

including any advisory, coosultative, honorary or other part time service or positions. 

U.S. Deparimmt of JaU, Crlmiul DMdoa, Wuhlngtoo, DC 

Dtpury .WisuW AttM!q Goltrai. Mtlllber of dte Senior~ Suvice 

U.S. Departmtat of Homeland Security, Office or the Setrttlry, Wub.iagto11, DC 

1~1,9) 

CoiiiiSt/or to the Secretary, Membtr of tht Senior E:tte~~tive Strvict 3105· 7106 

Ualted Stites Attorney's Office, Sou diem District or New York, New York, NY 

.Wistont Unittd Statu Attorney 1104-3/05 

U.S. Oepart.at of J11Jtict, Office of the »ep.ty Attoraey Geauat, WasliiDifOD, DC 

c-tl to tltt DtpuJy Attomey Gtnmd 5103·1~ 

U.S. Depll'c.at of Justice, Crim!Dal Divblea, Wubingt011, DC 

Special Asflstant to the Assistonl Attol7lt)l Gentral 

Jwtice Clareace Tbomu, Ualted Stites Supreme Court, Washington, DC 

Law Citric 

8102-5/03 

7/0J-7/(J}. 
42 


51617004.eps

Judge Edith B. Jones, United States Court of Appeals, Fifth Circuit, Bouton, TX 

lAw Clerk 8100-1101 

United States Attoraey's Off~«, Snutheru District of New York, New York, NY 

Summer Intern Summer 1999 

Ullited States Attoraey's Office, Eastern District of Pennsylvania, Phlladelpllla, PA 

Intern Winter 1999 

Judge Royce Lamberth, United States District Court for the District of Columbia 

Summer lAw Clerk Summer 1998 

U.S. House Majority Leader Rlehll'd Armey, Washington, DC 

Deputy Committee liaison . 1996-1997 

U.S. Department of Defense, Oflke of Non-Proliferation Polley, Waslllngton, DC 

Summer llllern Summer 1993 

Ollke of Corporation Counse~ Diltrict of Columbia 

Summer ln!ern Summer 1991 

Publlsbed 

WritlDgs: 

See Schedule A 

Political 

Afllllatlons 

and activities: 

Political 

List the titles, publishers and dates of books, articles, reports or other published materials 

you have written. 

List memberships and offices held in and services rendered to all political parties or 

election committees during the last I 0 yeaJS. 

None. 

Contributions: Itemize all political contributions ofSSOO or more to any individual, campaign 

organization, political party, political action committee or similar entity during the last 

eight yeaJS and identify specific amounts, dates, and names of recipieots. 

Quallfltadons: 

I 0124/12 Romney Victory Inc. $1000 

I 0/31115 Marco Rubio for President $500 

State fully your qualifications to serve in the position to which you have been named. 

(attach sheet) 

4 
43 


51617005.eps

See Schedule B 

Fltture employment 

rtlatioushlps: I. Indicate whelher you will sever all connections with your present employer, business 

Potential conOicts 

of IDterest: 

finn, association oc organization if you are continued by 1M Senate. 

As desaibed in the ethics agreement that I have entered into with the U.S. Oep8rtment of 

Treasmy designated agency ethics official, which has been provided to the Committee, if 

confinned by the Senate, I will sever all such coMections subject to the tenns of the 

ethics agJee~Denl Note that pursuant to the Employees' Retirement Plan ofProskauer 

Rose W, a defined benefit plan, I will remain a participant in this defined benefit plan 

and will receive an 100uity payable at age 65. Proskauer Rose LLP will not make further 

contributions to this plan. In addition, under the Proskauer Rose W- Partners' Cash 

Balance Retirement Plan, a defined benefit plan, I will receive a one-time lump sum 

payment upon separation from the Finn. 

2. As far as can be foreseen, state whether you have any plans after completing 

government service to IeSume ernplo)1Dent, affiliation or practice with your previous 

employer, business finn, association or organization. 

No. 

3. Has anybody made yon a commitment to a job after you leave government? 

No. 

4. Do you expect to serve the full tenn for which yon have beco appointed? 

Yes. 

I. Describe any financial amngernents or deferred compensation agreements or other 

continuing dealings with business associates, clients or customers who will be 

affected by policies which you will influence in the position to which you have been 

nominated. 

As described in the ethics agreement that I have entered into with the U.S. Oep8rtment of 

Treasucy designated agency ethics official, which has beco provided to the Committee, if 

con finned by the Senate, I will sever all such COMections subject to the tenns of the 

ethics agreemenl Note that pursuant to the Employees' Retirement Plan of Proskauer 

Rose LLP, a defined benefit plan, I will remain a participant in this defined benefit plan 

and will receive an aMuity payable at age 65. Proskauer Rose W will oot make further 

contributioDS to this plan. In addition, under the Proskauer Rose LLP-Partners' Cash 

Balance Retirement Plao, a defined benefit plao, I will receive a one-time lump sum 

pa)1Dent upon separation from the Firm. 

5 
44 


51617006.eps

2. List any invesbnents, obligations, liabilities, or other relationships which might involve 

potential oonflicts of interest with the position to which you have been nominated. 

I have oon.sulted with the Office of Government Ethics and the Department ofTreasury 

designated agency ethics official to identify potential oonfiicts of interest. Any potential 

conflicts of interest will be resolved in accordance with the terms of the ethics agJCC~Dent 

that I have entered into with the Deparbnent of Treasury's designated agency ethics 

official and that bas been provided to this Committee. I am not aware of any other 

potential oonflicts of interest. 

3. Describe any business relationship, dealing or fiD811cial transaction (other than tax 

paying) which you have bad during the last I 0 years with the Federal Government, 

whether for yourself, on behalf of a client, or acting as an agent, that might in any 

way constitute or result in a possible conflict ofinterest with the position to which 

you have been nominated. 

I have consulted with the Office of Government Ethics and the Department of Treasury 

designated agency ethics official to identify potential conflicts of interest. Any potential 

conflicts of interest will be resolved in accordance with the terms of the ethics agreement 

that I have entered into with the Department of Treasury's designated agency ethics 

official and that bas been provided to this Committee. I am not aware of any other 

potential conflicts of interest. 

4. List any lobbying activity during the past ten years in which you have engaged in for the 

purpose of directly or indiredly influencing the passage, defeat or modification of 

any legislation at the national level of government or affecting the administration and 

execution of national law or public policy. 

None. 

5. Explain how you will resolve any oonflict of interest that may be disclosed by your 

responses to the items above. 

As noted above, I have consulted with !he Office of Government Elhics and the 

Department of Treasury designated agency ethics official to identify potential conflicts of 

interest. Any potential conflicts of interest will be resolved in acoordanoe wilh the terms 

of the ethics agreement that I have entered into with the Department of Treasury's 

designated agency ethics official and that bas been provided to this Committee. 

6 
45 


51617007.eps

Civil, criDliulud 

investigatory 

actions: I. Give the full details of any civil or criminal prooeeding in which you were a defendant 

or any inquiry or invesligation by a Federal, State, or local agency in whiCh you were 

the subject of the inqui!y or investigatio11 

Last year, I received a routinenoticeofpenaltyfrom the New York Workers' 

Compensation Board after my spouse and I caooeled our wotkers' compensation policy 

since we were no longer required under New York State law to maintain such a policy. 

The matter was favorably resolved and the penalty rescinded by theN~ York Workers' 

Compensation Board after our payroll company provided payroU records showing that we 

were not required to maintain the policy during the relevant time period. 

2. Give the full details of any proceeding, inqui!y or investigation by any professional 

association including any bar association in which you were the subject of the 

proceeding, inquiry or investigation. 

None. 
46 


51617008.eps

l"'bllslroed 

Wrilbtp: 

January 2017 

OciOO« 25, 2016 

Sepa:mbcr 16, 2016 

June281 2016 

May24, 2016 

Mayl3,2016 

Mlyl3,2016 

April22, 2016 

April 6, 2016 

March 15,2016 

September 11, 201 S 

August 2S, 201S 

AII&IJSl2S, 201S 

List the tides, publishers and dates ofbooks, articles, reports or oCher published materials 

you have writtm. 

G/oballnvestigadons Rt~~iew • 1"M Pracliticntr's Guide to Global 

Investigations, Chapter 13: Employee Rights: The US Perspective (co-author) 

Proskautr Ccrporau Dqwe 111111 Dispvtes Bfqg. SEC and OOJ Olatge 

Board Member with 1'rldina oo Inside 1nfooualioo ... DuriDg a Board 

Meeting (co-autboc) 

~kauu COiporau DqtMt 111111 Dispvtts Bfqg. OOJ Moves to Dismiss 

Public Coauptioll Owges Apins ForiiMr VA Gowmor (co-author) 

i'ro.Jkallu Capital Commitmtllt Bfqg. Whistleblower Concerns for Private 

Fund Advisen-Seven Mi#akes To Avoid (co-author) 

Compliance Wuk, Takeaways From Ceresney Speech On Private Equity (coauthor) 

Prosklluu Corporate Defense and Disputes Blog, I 0 Takeaways from Deputy 

Attorney General SallyQ. Yates' Remarlcs etlhe2016 New York City Bar 

Association White Collu Crime Coofer= (co-author) 

l'rwktmu Cotporalt Defense 111111 DiJ[IIIIIJ Blog. SEC Iuatascs FOQIS on 

PrMte Equity Enfon:emalt (co-llihor) 

i'ro.Jkallu Corporale Dtfwt 111111 Dispvtts Bfqg. Sec:ood Circuit To 

Determine Wbctbcr ArtfUl Pleading Can Extend FCP A Juri.!didion (coauthor) 

Pros/rauer Corporate Defense and Disputes Blog. Criminal Division 

Launches New FCPA Pilot Prognm (co-autbor) 

Prosklluu Corporate Defonse and Disputes Blog, The Modern Slavery Act 

201 S and Supply <hio 1'ranspamlcy (co-author) 

Prosklluu Corporate Dqwe and Disputes Bfqg. Justice Departmeot 

Prioritizes ProseMion of Individuals for Corporate Miscooduct in New 

Guidance (co-aullu) 

Pro.skmltr Corporate /JqtMt aNI D/spuJD Bfqg. SEC Brin&t F'ust Maj« 

Cybcr Insider i!lding Case Apins lotcrnational Hacking Ring (co-aullu) 

Pro.sknlu Corporate Dqwe 111111 Di.spuJo Blog. Scope of Allomey-Ciient 

Privilege And WO!It Product Doctrine In Internal Investigations Clarified (coauthor) 
47 


51617009.eps

July20, 201S 

June27, 2015 

May27,2015 

May22,2015 

Mayl5,2015 

April22, 2015 

April17, 2015 

April3,2015 

April), 2015 

Apnl3, 2015 

February27,2015 

Janlll!y 22,2015 

January 12, 201S 

December 27' 2014 

December 5,2014 

~r Corportlle l>f/UI# ond DlspuiQ Blog. Louis Berger lnlemational 

Pays$17 Million Penalty for FCPA Violalioo (a>aotbor) 

Proskauer Corporate Dtfmse and Dlspu/Q Blog. DOJ Breaks iiS Silcoce in 

2015 FCPA &fon:cment (co-author) 

Proskauer Corporate Dtfense and DispultJ Blog, U.S. Supreme Court 

Rejects Indefinite Tolling of False Claims Act under Wartime Suspension of 

limitations Act; Holds First-to-File Bar Only Applies to Pending Cases (coIUtbor) 

~ ~ Dtfwe ond DlspriiQ Blog, Texas Supreme Cowl: 

Companies Shielded &om Defamllioo Oaims for Starements in lnUmal 

lnwsti~ Reports (co-author) 

Proskmler Corporate Dqwe ond Dlspldu Blog. Head Of Criminal Division 

Speaks On Corponle CoopeRtioo (co-author) 

Proskauer Corporate Dtfwe ond Dlsputu Blog. SEC AW1lds CompliiiiiOC 

Officer Wbistleblower Bounty of Approximately S 1.5 Million ( CCHutbcr) 

Proskauer Corporate Dt[tMe and Disputes Blog, Cybcr Security Regulations 

Ahead Says New Yorlc State's Dept of Financial Services (co-author) 

Proskauer Corport11l Dt[we and Dlsputa Blog, SEC Charges Ex-CEO with 

Coocealing Penooal Usc of Corporate Funds from Investors, Sdtles wilh 

Corpcntion (co-llllhor) 

P'rosi1mtr Corporutt Dtfwe and DispuJts Blog. Sccool Cin:uit Dcoics 

DOJ's Request for En Bloc Review ofNewman; Leaves i..aldmmk Insider 

Trading Deci.sion in Piece (co-author) 

Pro.r/azuq Corporate Dqwe and DlspuiQ Blog. New OOJ Policy on AS$CI 

Forfeiture in Structuring Offwes (CCHutbor) 

Proskauer Corporate DtfoMe and Disputes Blcg, Goodyear Pays for the Sins 

of iiS Subsidiaries in a S 16 Million FCPA Sdtlernent (co-author) 

Proskauer Corporate Dtfonse and DlspultJ Blog, Department Of Justice 

Emphasizes Expectation That Corporations Cooperate In The Proseartion Of 

Company Executives (co-aulhor) 

Pro.r/azuq Corporate Dtfenst and DlspultJ Blog. OOJ Annolmces First 

FCPA &fortemelll Ac:tioo of201 5 (co-autbcr) 

Pro.rlazuq Corporcte Dt[tiiSt ond DlspuiQ Blog. Alst<111 to Pay 1..atJest 

FCPA Criminal Palllty in History (co-author) 

i'rosktmu Corportlte Dqmse ond DisputD Blog. DOJ Releases Second 

FCPA Opinion of2014 (co-author) 

9 
48 


51617010.eps

Nowmber 26, 2014 

October 29, 2014 

October 16,2014 

October 7, 2014 

August 13,2014 

Maid! 3, 2014 

February 13,2014 

November 7, 2013 

September24,2013 

I 11JU11Y 23, 2013 

December II, 2012 

July 18,2012 

Spring2011 

June 28,2010 

May 11,2010 

Prosksutr Corporate DtftiUI aNI Displda Blog. DOl Announces Record 

YearofSS billioo in Fabe Claims Act Recoveries (co-auth«) 

l'roskmler Corporalt Dt/t11St 1111d D/Jputa Blog. Companies and Individuals 

Alike Should Heed DOl's Focus oo Individual Liability (co-author) 

Proskauer Corporate Dt[t11St and D/Jputes Blog. SEC May Be Fon:ed to 

Adhere to a Five Year Statute of Limitations for all Actions (co-author) 

Proskauer Corporate Dtfwe and Disputes Blog. AAO Caldwell Provides 

Guidance oo Adequate ~liaooe Programs (co-author) 

Wllistkblowu Dt/tJtSt Blog. Prosbuer Obtains Dismissal of High-SlUes 

False Olims Act Suit (oo-uhor) 

Proskalltr CliDtl Altlf, Supaue Court Holds That CrimiDal Defmd.mls 

Challenging P~ Trial A$$d Seizure Clnnot Contest a G!1md Jury's 

Determination of Probable Cause (co-author) 

Proskalltr CliDtl Aim Private Fund Managers Be Aww. FCP A 

Enforcement Is Coming Your Way(co-autbor) 

Proskauer Jllh!Jtleblower Defense Blog, U.S. Senate Unanimously Passes 

Antitrust Wbistleblower Protection Bill (co-author) 

Proskauer Whistltblower Dtfwt Blog, SEC Enforcement Official 

Recommends That Firms Showcase Their Compliance Prognms (co-author) 

l'rosJ:mwr ff'histkblower DtfUISI Blog. D0J Recovers Up To $48 Million in 

False Claim Act Case Resulting From Whistleblowu Report (co-author) 

l'roskmler WIWtltblowv Dtft~Ue Blog. 2fJ Of DOl's Nearly$5 Billion 

Recovay Under False Claims Act Derived From WhistleblowerSuits in 2012 

(co-author) 

Proskautr Cli111t Alert, Door to Ina-eased Uability for Banks Opened by U.S. 

Court of Appeals for the First Circuit (co-author) 

ABA Co111111U1ee on Criminal UtJgation, Section of Utlgation, Employers 

Talce Heed: The SEC is Preparing for a Greatly Enhanced Reliance on 

Whistleblowers (co-author) 

ProskalltrCIItlll Altl1. U.S. Sup!UllCCourt Nerrows Scopeof'Hooest 

Services' Prosecution (co-author) 

Proskauu Client Alert. EYer)bocly Ukes Free Stuff: Draft Privacy l..egjslatioa 

Sccb To Eahaoce Consumer Protections Without Disn¢lg Ad-Supported 

Internet BuUuess Model (co-euthor) 

tO 
49 


51617011.eps

Qaallfleatiou: State fully your qualifications 10 serve in the positioo 10 which you have beat Dlllled. 

{attach shed) 

I am honored to beiiOlllinated fur the position of Under Secretary of the Treasury for Terrorism and Fmancial 

lntelligenoe. I bring to this position substantial public sector and private sector experience. 

In the govenmalt, in edditioo 10 saving IS 10 As1istiDt United States Attorney in the U.S. AIJooleis Office for 

tbeSou!htmDislrictofNew York, I held 1 nurnberofseniocpositioosat the U.S. {)eplrlmeotofJastic:eand the 

U.S.Ileplrtmalt of Homeland Security, wbcre I was involved extemivdy in national security,~ 

and intdligeooe IDIItcn. From 200610 2009,1 saved IS J:)qMy Assi.stiD1 Altorney General in the Criminal 

Division of the Depc1ment of Justioe. In that position, I oversaw four prosecutorialsectioos: the Computer 

Crime and lntelleclull Property Section, the Domestic Security Section, the QUid Exploitation and OQsctnity 

Section, and the Office of Special Investigations. I supervised a number of high-profile and complex domestic 

and cross-border prosecutioos that involved signifiCIDt national security, cyber security, money laundering. 

intcmational, and human rights issues. lied and pcticipated in developing and implementing strategy for 

various mui!Hpy and multi-oationallaw enforcement programs.. I abo rqnacnled the U.S. pernmenl in 

inlanational fen, including before the United Nations. 

From 200S 10 2006, I served IS Counsdor 10 the Secretary ofHornelaod Security, U1isting the Secretary in 

liiiDI8ing the Department's agencies fuaased oo national security, intelligence, and law enfurcanent, including 

the Office of lntdlipe 10d Analysis, Immigration and Customs Enforcement, and the U.S. Seaet Service. I 

abo worked on oounterterrorism cases, other matters related 10 the global war on terror, and law enforcement 

and border security initiatives. 

I abo pmioosly saved as Counsel 10 the ()qJuty Attorney General and as Special Assistant to the Assistant 

Allomey Geoenl for the Criminal Division. In those positions, I likewise focused almost cxdusi\'dy on 

c:ounta1erroriJm and national security in the aftermath of9111 and !bing 1 period in whidl the nation was on 

high 11«1 for follow-oo attacks. I was abo priVIleaed 10 serve as 1law dlrl for Aslociate Justice Clareoce 

Thomas of the Supreme Coort of the United Stateaand for Judgl: Edith Jones of the United States Court of 

Appeals for the Fifth Cimlil 

~a partner at Proskauer Rose LLP ,I have repraented corporate and individual clienta in a variety of 

industries. My work has included mattera involviag government investigations, crisis lll8Dige!llent, litigation, 

and compli10oe. In the coone of these rqnacntations, I have gained valuable and practical insigbts into the 

regulatory and compliance issues that linaocilll inslitutious and other Cliities floe oo 1 daily besis. The private 

SCdCr plays 10 important role in prevaKing illicit actors &om using the linaocill syslaD aid should be 

accoontable for fill6llillg those responsibilities. In addition, I believe that the private sa:tcr <:111 and shculd be 1 

key pertner in the Office ofTerrorism and Financillllntelligence's mission ar.d I will carduUy comider how 10 

utilize that partner1hip most effix:tively. 

Finally, on 1 penooal note, as the child of Holocaust survivors, I was raised with a deep underatanding of the 

AmeriCID Dream and the importance of maintaining the safety and security of our great nation and our 

oommlllities. Three of my grandparents were killed or died directly as a result of the Holocaust. Mypllmlls 

spent 1 portion of their youth in gbettos in Eastern Europe and then hiding underground in the fORSt md 

11 
50 


51617012.eps

~as they tried to CSCipC from the Nazis. They CIIJle to the United States in the la1e 1960s to cootinue 

their studies and thea decided to raise !heir family bcrc in J11=it of a beUrr life for !heir cbildreo. I was the 

Mt member of my immedilte family born in the United States llld have always considered lhat to be an 

incmlible ~vii~ 

After 9/11, I waoted nothing more than to contribute to the response to !hi! tern "ole anactc CNI our nation. It was 

my greatest bonae to join in lhat fight when I bepn my Justice Department career in August 2002 and to 

continue oo in that journey in the counterterrorism, national security, and law enforeement positions that I held 

at the l)qlWnenls of Justice llld Horntland Security. Among those positions, as Deputy Assistant Altomey 

General of the Criminal Division, I aiJo supervised the Offu:e of Special Investiptloos, thuection that 

lllditionally in'laligmd and took lepl action apinst paticipcis in Nazi perseculion, and the Domestic 

Security Section, and wu booo!ed lo help auide those Rdioos to expend their mission to al.so prosecote men 

recent ~ rights violators, such as Ondie Taylor, the son of the former Presidenl of Liberia. I will bring 

all of !hat history aod commitment to !hi! position, should I have the honor to be confinned by the United States 

Senate. 

12 
51 


51617013.eps

The undersigned certifies that the infonnation contained herein is lnte and oorrect. 

Signed: __ 7/ -ifl-..J.P_ :..;_ /J!

1

f-!:. JtJ=--(_/---Date: t.Jfl/11-

15 
52 

PREPARED STATEMENT OF MIRA RADIELOVIC RICARDEL 

TO BE UNDER SECRETARY FOR EXPORT ADMINISTRATION, DEPARTMENT OF COMMERCE

MAY 16, 2017 

Mr. Chairman, Ranking Member Senator Brown, Senators of the Committee, it 

is a distinct privilege and truly humbling experience to come before this Committee 

to be considered for Under Secretary of Commerce for Export Administration. I am 

deeply honored to have been nominated by President Donald Trump and greatly appreciate the confidence that has been placed in me by the President and Secretary 

of Commerce Wilbur Ross. 

When I served as legislative assistant to Republican Leader Bob Dole, I did not 

imagine that the future might hold this opportunity—that one day I would not be 

preparing questions, but answering them. Perhaps my late father might have 

thought it possible, not only because of bias towards his daughter, but because he 

was always optimistic about what was possible in this great Nation—a view that 

carried him from communist-controlled Croatia via Germany to the United States, 

with little more than optimism in his pockets. 

I wish to thank Senator Bob Dole for teaching me so much about leadership, integrity and fairness. I learned hands-on that building bipartisan coalitions is essential to progress and reaching agreements. This lesson informed how I approached 

issues as a member of his staff, and later how I approached working within the U.S. 

Government interagency while I served in the Department of Defense. The ability 

to understand and balance the equities of U.S. agencies and drive toward solutions 

that strengthen U.S. national security is vital. 

The role of the Under Secretary of Commerce for Export Administration is consequential and one in which I will be able to leverage my experience and skills if 

confirmed. The Bureau of Industry and Security (BIS) advances U.S. national security and economic objectives by ably managing and ensuring effective export control 

systems, supporting treaty compliance, and enforcing sanctions. The Bureau’s responsibilities are executed in close cooperation with a wide range of departments 

and agencies, including the Departments of Treasury, Justice, State, Defense, and 

Homeland Security. 

The recent announcement by Secretary Ross of record criminal and civil penalties 

against ZTE Corporation is the culmination of 6 years of investigation and highlights the crucial function of the Bureau’s Office of Export Enforcement. Last year, 

the Bureau’s Export Administration office processed more than 33,000 license applications related to dual use items and items that had been on the U.S. Munitions 

List. The United States retains jurisdiction over re-exports of U.S. origin goods 

abroad; this is an indispensable tool to address the potential diversion of items to 

our adversaries who might use these them against U.S. military forces abroad or 

in the development of weapons of mass destruction. 

Important also is that the licenses processed by the Bureau of Industry and Security enable exports of U.S. goods and these exports mean jobs for American workers. 

As a former employee of an aerospace company, I can appreciate the impact of exports on jobs. At the same time, the health of the U.S. defense industrial base is 

imperative and in that regard under Secretary Ross’ initiative, the Bureau of Industry and Security has launched two investigations on steel and aluminum imports 

under Section 232 of the Trade Expansion Act. In addition, the Bureau regularly 

conducts studies on other areas of the U.S. industrial base. 

Secretary Ross recently said, ‘‘Under President Trump’s leadership, we will be aggressively enforcing strong trade policies with the dual purpose of protecting national security and protecting American workers.’’ If confirmed, I will act vigorously 

to enforce U.S. export controls, embargoes and sanctions, as well as continuously 

promote and advance policies that support U.S. industries and technologies and the 

American workers who are the foundation of our industrial base. 

Mr. Chairman, Senator Brown and Senators of the Committee, thank you for your 

consideration of my nomination. I would be pleased to answer any questions the 

Committee may have. 

53 


51617014.eps

SfATEMENT ROR COMPUTIOR BY PRESIDENTIAL NOMINEES 

Mira 

(Fl~ 

failtloo-io. wb.ldlaomiaated: Oedtr Seeretuy of G'oJIIIiltrce for.Elport A~bltatioa 

Date oflr~~ : 

'Date ofb~: S July 19'60 Placeofb~: M,ifw3uiti; WI 

(Illy) ~(Tw) 

Marital Slam: Mmiecf 

Namc-ucl ac«or cllildJ'ea:.)lone 

aori. 

aDd awanb: 

Dates of 

~ 

Geo~ 1JIIifcnity 

'Ik FlttdJer~ 

Twfts~a~ 

1971-1981 :s:s. ~ 5er(i(t Mayl.Ml 

1982-1.984 Nollt!~dtctonl..-lfork 

Lisi beiQ:.V air scho\mps. (~DQwshlps, hooorll)'d'egrees. militacy ~ boiloti\IY 

.So_Ciety mein~ps ancl81)y Q11Jtr special ~ogpitions for outstin4int'serv!cE or 'acl!ie\>tnietit • 

Gtoi'l~ll Uolvmity: 

lUceivtd acadteic JChoiiQhlp 

Gndaaftd fnm Gtorceton Uaivmlty"S'cllool of i'~Sfrrice ""P' 

arili/uM 

- Rttancl awanlatpdutioa for ~fJiliD Rona Sllldia 
54 


51617015.eps

I2St llel9walllllell1bershlJ)$ and offices. heklm pro~onal ftatemal, lNsiDtss. JCbolarty, 

.civic, cllaritableand other o~~ 

:Co•dl oa.Fortlga Rdllioas NGtle 

NewYorkAWt&CIIb(l)i'f'*'fPb·) 'Noee 

1ack~Pa111 ~b (t•fOGCia$p9W) .Noae 

Si~~ 19!J8 

SiDct fll!l6 

Siactltol 

Eap(or-t rtCO'nl: List below ali J'O!itions beld sinee.co~ jldDdina tbe Iitle or ~of job, name 

oi''Cillploymect. ~of-...oik, ml inclusive dates 'Of emplb)'mait. 

Sptclii/Aal$tantla.lht Pru1dtnt '¥!1l.).f..10Cfatt l){rtctor fqr Presidenilol Ptr10nnt/ 

{)ffice of Pres~ P,rscttt!i J1111Jiary '17· pri.stitt 

·The We.~ w~ nc • <Mrsce ptt101111elportfo1los~llleDepe11maitofDefcnse;. VdCIIIS A~ lild tlle'lml.ligcnCe 

~itS' 

~ Dtpl. ojDfjmst{l)oD)igtltcyActionlfQIIf 

7'r1rR9' Transiti6it 

Stpl. '16-Jilmlt7y '17 

Washington, DC 

COIIJu/tQIIL~dtiUC} Stp.t. '/S-Allf.liSI '/6 

AfexandN,.VA 

• AdWecjlln gi'OVItb .strategies for clients in 4tknscllld n:-to ilillodt inlernalional blisines$ Qpporlunities 

Y'IU Pruitftttt. ~ ~·lJ Ny JS 

Nft'tftl(t & Spar~ s,-ts (l{.iss} . Altillpa, VA 

The BoeiD& Clilmpliy • Led,~ ~ IMISIW implanetn~J}oo of inlemalialal growth~ to inc !tide idemifyiap.,muttt 

oppoitUnitiestoc; key~ ~utions ln $88 b«Biness unit 

Col:idticled bd~fmp oil N&SS J!I'C)duc(s/ soiOOon,$ to US .11\!l intemttioo,J me41a 

Y'tU Pruldna, Bus iritis !Jmlopmt11t 

&rtiltik Af~Ue & Dqim~Syittm (SM6M ~~!oR~& Compeny . 

July '06-Jm~ ·1~ 

)\rljilgjcn, VA 

• Led~~ llld txeculiol of~ illdirlle!naliOIIal busincuclmlopmoj, captare &1ld. 

~ Slnlegies * SJ.5Bt Boeina division 

Y"!Ct P.rtSidtn4lllttl'lltiilililil ~ J1fly 'OS· Ny ~ 

~pe,~. . · Arli~ VA 

Led in~lll'ooal buSiness deVelopment pla~ for company. thlt developtind Prodl!cCs.c~stomized train)ng 

tnd supjioifptQ!!IfD$ for ed~IS.i'n the US~ 4broa!i 

2 

~·OJ-.[IIly'O~ 

WllhiDatca. DC 
55 


51617016.eps

• Ud lnlem!Jional SecUritY. PorieyorganiialiQI Wilhin tho0fliei 9,F~ ~ 9f DeJ~ 

• StrYell is ptineij)il idvis~ lo·ihe Secrttacy f;f)qepst ~ICSJIOCISible for DoD policy~!Qpmeot abd imptemenll.tic 

(e)ated to: ~Sttralegit f~ l!lissiJe de~ SJliiCI!;.IlOII-prolifeiation; NATO, Eiuof;e •. ~~alnd Russit 

Dti»J1.fislstattlStCr'tlaryof!Jtft!ISefor EurasJa 4~ '01 • ect,o_bp·•oJ 

QS~I!IItofOefert~ Wasft.ingtoo,IX; 

t Prineiptlldviser-td the-~ of Defense, Deputy S~ ofDe~ and U)lderSecretwofbefenie on Russia,_ 

CentrilA,Sia, O!t-~~dtheBal~ . 

' ,lndepencknt consultant 

JIPit ~-MIII'Ck 'OJ . 

Wishin;ton; od'New York 

• S:enior Adviitr to Cbinllail :gf li\leini~\ ~i~n on Missing-l>e.rsolis, Bob Dole 

Pice htsfdehr for hO,fjOJJU Ft~· '91 • J.lm~ ·~a: 

Fiet®m~(N'iti~iOtum Youn<!atlon W.asbinr;too. 0!: 

• !,1anf8ed,and cxpa!lded multi:miOion dollirpro(lim ~rtfolio 

Ami.! CmilrOI AtM~~ 

Officeo~SellfiOr)OJl~

• Sfiolit~ad\lil!lJii)l)e. 

NlfV '96 -.Ftbfuary '97 

Was)li.ngtllfl, 'DC · 

Dtfwe:tmif.FOftign.folityD'iitctOI" .[u/y-Nil" ·~ 

DQief!l<P~iclelll CJinpaig11 • Wasbing!On,_DC 

, ~~~~ef=e.~~tdforejgn polieypositiOIIS fat ~ideb!IAI (Jndidate Bob ~!e 

ugii/afiil(-Ass4!1¥11 Junt 189-JuJ; '96 

Rep)lliJiean ~·~ Offi~ 'Us Senate Waslimg!qo. be • Draft6d Jtsislatioii and developed legisr&!ive. ~OJ\ key ro~!JI and' Jl~finse pot;cy niilt!($ 

'Dtp.IIIJ~orofCon~i/Jilili.Jfain 

Cdl~isiQho/ Aff.~ SJ!tel(!liJt 

US_Anns Con~1 anc!Disatplam!ot A~llt'! 

Prtiidurl(¥1 Mrmatement brtms 

Spon.sor A~/!CY·'Dt/tmf Logfsfics 4genl:y 

fei!Qwslli95: 

Office Of tile }19~~\)~ible ~ete WilsQo. VS ~e 

Defm~~ MslstanUA~ 

Rt.!{IIIJih ~)4111 ~ (ip)e w_hil,_ Dl GetJri<lU>f11) 

Center for Sirt~c & hi!eb1aliol!ai·Snldies · 

.Feb111QT)' '86 • .Iulie •89 

Wastiioilo&, DC 

At~,gUsl ~-February '86 

Wesb1ft,&10.n.DG 

JaliiJ(II')I !8.5.-JOii '8~ 

September '81-~ '8( 

Srprembet '.81-Mtrt '82 

W&lhlpgton,!X; 

Govmalellf 

Q.P."Jiarce: List anyexperiellee .in or ~ ~~~i~n wi!l! Fedey;al, $\~ or local ~ovetm:lleots, 

ineluding !DY 8ilviSOl)', 'COnstlltaliY~ honoraly i>r'litjler ~ tfuje ~~9r.PQSiti.oqs, 

Sptciol Al'sistanlto !he Pmfiinl illt<f;hsocitiie Dir;ecior far ~fdttttlal Ji~rSO{I!Jtl 

O!ftct of P.rtiilie~tial fqsqnneJ, JfiJliJIJry '17· presinl 

l)>eWl\iltHQ~ Waslli~on,OC 
56 


51617017.eps

us lleplrtJncat of.Defalse Wi:lllingtbn.DC 

J!lgiiSI '!J}. ~ 'OJ 

Washington, DC 

~AR/IkMI ~if!Jqp*-fpr Ewasi4 IJS~ofDefeme. 

Ltgis/111/H >4f~Q111 

R~bli~ !Aadet' Offi~ US Selllte 

JIJ1It '8~·/w/y ~ 

Wailiibgto~ DC 

Dfpuiy Dltfdc, pfO:mgrwj91"# Affafn· ~Affa/rt.Spttio/ilt 

OSAtmsOlntrolllld ~Apcy 

.Ftbnlary '86 • .lultt '89 

'Wasi)M1gtca, DC 

~illl~tb!ttnr ~ 'U -F1bnpy '86 

~ Aguc;J: Dfft.pse ~ .{gr/q Wasl!in&IOD.DC 

f ellov;$hips: 

Offiee. ofile Honorable Ptle Wilsor), US ~te 

Defense ~rity A$$1~ Agency 

J_an.'KlTJ '8S ·Jon !86. 

Stpttmbu ·a~ life. '84 

Po-

.AIIUiiHOIIS 

1..i.st ~ iidt;s, publishets IIlii dales tifboolcs, ~~titles, ltpolls or olhtr pull~ malelials 

)'dn have wrjUen. 

"America Needs tGiobal?rf..ntDefase.Pio", TbeBiD (o•)iu)',~ei!tbcr~ 

211S 

lDCiactiYitia: List mem~ps lllll6ftlces ~d ih !ll!d ~ces reodered to Ill political parties or 

~ec:tion COIIllllittees duriog tbf laSt 10 ~ 

~~ s'tmd oa Trpap p~a teal! (Stptcsaber }016.Jau1W)' 2(11) 

Politktil 

Coatrlbulioas: liemize all political conb'jbqtioll$ ~fSSOQ or mote to~ jndivi,dua!, campaign 

· o~tion, pcilitical petty; political acli'oo co:mmit1ec or Similar entity dutiqg the~ 

eiglityeais lhdid'encify~ific amounJs; dates, ~IWJ]eS of recipients.-

J ilaTe ae't kept nconb of my potitical eoatribaliou, so l referred l9 tile FEC 

eoatribu~ dab b..-wkidl had ~followDginfonutiu~.-, 

eoattiliiitiotls&ce~ 

Dolialcl TraJaP< SIOQO (07[1212016); Sl$ (1011012016 

D'elald Amerttt:rAC; SlOOO (04(1112012) 

.Mift o~~U~eyiP.iw ~au: s1000 (Ol/13120lli SsOO (04/lWil); S5!UJ (10(06JIZ). 

l'•tric:!l.!'.M•my,: me (0S115120t0J; szsli (09/lGaOIOj $t'ooo (Hl/07/2010}; SlOOO. 

(OYJ4{Ztn) 

Patter il Gl'iflilb: ssOo (OJIOJ/2010} 
57 


51617018.eps

hl!iditiH, wJUie aaploy!d at'lltBed.gC.mpuy, I coatribated fd'llle lloc!iD& 

CQIII!li!IY PolitiW Actioa. ~at IIL~J"CCGmmttldfd &iYbtl JeveHorYJCC 

Praideats. 

Qiltlllleatlo~;· 'S)ate lijllyYilllt ~ons to sem.jn)heposition to~~ youbave.tleel!'named. 

(attad!. sheet), Stattlatnt alfaehed. · 

Falllft rmploymcat 

tlialjtuWps: l.Indica!e wbetbet )'OU ,rui sew:r all OOiiDtctiOBS with your pttseat ~. b.usiDc:ss 

-~ oro~if)'Olraa: coa.finned'bylhe Seoale. Yes. 

2. As far .as ~be. f91e3te11, ·~~you have .anY, plans after CO!Jip etin~ 

go~t ~<»to reslfll.le employment, affiti¢on or p~~ with your previous 

eJI!PlDF1 business firm, iSSOciation or brg~oll. No.. 

5 
58 


51617019.eps

Potmtial eonllldS 

ef iDtemt: t Describe lilly financW enqemeli!s or deferreil ~ou ~tror other 

eoiltiliUing ~iusswitb ~ ~ clieolsor~~ will be 

aft'cctedby poll<lies ~cb youwiUinliuente'iD the position to whiCh you !!ave been 

ttOJiiinated. 

Seutiuhecl elblcs acreemellt. 

2. ~any mvesllntiiiSj obliptions,.liabililieS, or bthtz tdatioDsliips wflichiniglit iJMllfe 

Jl9lenjiaJ QQII!Iicts of intertst. \lr)tb ~ positioo to whicb )'OWYe beta DOininalrd 

Ia eoutaioa 1ritla ~ iloailllt{oa ·process, I bave.co~IW wit)~~~~~ 

Oonmtne~~t t;Q.jq aad "Illes officills tt6e DeparfiDeat of eollllilem to·kleillify 

li9t~fjal ~dj~'O! latm.at Ally· ~~ijal ~aQicts 9! 1Ditmt11'la be ruoived .ia 

actorduiee with tb e~tms o.f~fe~kt ~~t'lhat1 ban ~ntered ~to~ th1 

Department of Co-em aad thaUaas been proVided tci .Ills COIIIlDittee. I lin i!OI 

aw~Ji of IllY ~tl po)mfial ~of illten¢ 

3. J:>es¢!Jecaay bDsiness relJtioo:lbip,.~ or fiDaDciall!IDSaCtion (o!Mlhan tar 

paying) ~u have ltm c!urini:lfie last 10~ with the F~ Go~ 

wheiber ?oryountlf.Onbebaltof aclieot, or ~~:'tingas aUgent. tbat)night iiljhy· 

way c9n$tillltt>or result ina-)lQSSib1e co!lflj~ ofln~ with the position· to wbicli 

you have been o,o)liinlttd. 

Ia eoDD~a -!'ith 1M aqiQ!uiioa proeess, r have eoJIIII)ted with tke ofilce of 

Goftl:Ulmt ~ aad edllcs o~ at d!i~artmeat9t C11•JDe~U to ldeoftrr 

poteatial cOaJlids o! l.tenst. ~'/ potmtial collflids of iDiaut ...-.be resolved ia 

aceentuee 'IJitk tile tams of U.e ttiUcs tp*dlall tbit I haVe entrnd il1to 1ri6 lbe 

~au 01 COuaemaad th3t liu beqa pmicW to U.il 61-ntee. 1 .. not 

aw.n.Q.fliQ' ot&tr poteatial conflidS ofiaterat 

4-tishny lobbying aetivity during: tMpast ten ~ in .Which you ~e ~gag_;d in.foi the 

~ of dircctly or indirectly inD~ the passage, defeat ot Jlfodification of 

,ax legislation it lbe natiQnal~pf go~ or aft'~ the adminlsttatioll.IDCI 

execuliOb of lllliOdallaw ot pdblic policy. 

1 hav~ .aem' beea a .ngjstend ~byist odo~p egeat; n.riag ay ten~ at 

.Boei.g, J Ottttloully woric.ed. oii mattm tta,t iDvplved lob~ b11t JIGl' 

.ructi.eci tbe tlaredlold tfaat required reptra1lon. ·nm ~ -a~vih'tt 

Wert reported Wilht. {bt B_odli.g tiiRkeepiag 1fSIC111 'ICCOrdin& ;to fedenJ 

·retulatloll.S. 

8 
59 


51617020.eps

.Cfvil,.criaiaahad 

iDyestip,lo.ry 

'adl9ar,' 

s. Explain ~~ow you will !e30Ne any coafliet of intcl'est tliat may be llisclOStd by yoor 

~ lotbeimlls above-

.In wueetioa wldl tH DOIIliutlon p~ris, I !lave eoatuJ~ 'lritll.tbe ()ffiee-of 

13ov~rDmeptEtbl~ llljl e!bla oli!cials.at•iht Depa.rtmeat oC'Colll!l1ertt to 1deatify 

pi!t~tial coDIIktf 9f llltemt. Arly pot~ti8l eoll(liel4 of llltere,t will be ~lved In 

aeeonlaace 'With· di~ tmu of the elliics agreeme.at tb'at 1 bay.e eate.ied.ilito with tlie 

D~e.at of C.j)mmeree" Dd ~~ •a.s been provided to this CoDilllittee. I am not 

ll!'ire of illy ~ poteatfal co.afllcei9!,1Dttmt 

,). Gi~ Jbefull.details o.f·ahy civil or~riJn,i.oal.proc~ecliog which you were. a defend111t 

or any1ilqUizy (lr investijirion bY, ~ Fedeial, SIOte, or I~ 8&Cf!li1.iil whil)b you well: 

tbe.subjo;t ofihe inquhy·or in'Yestigatlon.-

I live J.J!l bMI iavolvcd illaay ~-p~lap. 'ne ODly dyi) Jll'Oft'diAJ I 

wr.b.eea brvoh>ed Ia wa.s my: diVoredrom my fin! h~tncL 

1. GiW.the full details ohny proceeding; inquil}' or lnvestigatfcin by any profes,sjona! 

ISSOl;ialipn iijclusling. lilY 'bar ~iation in which you were· the 'SUbject of the 

p!l)CCiedilig. inq\1iiY' Or jfiVCS!igatiQJ). ~OIIC. 

7 
60 

PREPARED STATEMENT OF MARSHALL BILLINGSLEA 

TO BE ASSISTANT SECRETARY FOR TERRORIST FINANCING, DEPARTMENT OF THE

TREASURY

MAY 16, 2017 

Chairman Crapo, Ranking Member Brown, and Members of the Committee: I am 

honored to appear before you today as the President’s nominee for Assistant Secretary of the Treasury for Terrorist Financing. 

Senators, at the outset, I thank my family—my wife Karen and my two daughters 

Morgan and Elsa—for supporting my decision to accept President’s nomination. 

These positions require significant family sacrifice, and I could not undertake this 

without their love and their backing. 

Unfortunately my mother and father could not be here today, but I am very happy 

that my sister Rachel—who is a career Pentagon official—is present. Rachel, and 

her husband Craig, who is a Chief Warrant Officer, have collectively served more 

than 5 years in Afghanistan and Iraq—together and apart—helping keep our Nation 

safe from the terrorist threat. They are, in my view, great Americans who have sacrificed much to protect our Nation. 

By way of background, Rachel and I were raised in Montgomery Alabama, as constituents of Senator Shelby. Our father, Oliver, is the son of a cotton farmer and 

the first to graduate from college in his family. Our mother, Nancy, hails from Xenia 

Ohio, where—Senator Brown—I am proud to say that we today have a large extended family. From our parents I learned the value of stoicism and hard work, and 

I am deeply grateful to them for the sacrifices they made over the years that have 

allowed me to be here today. 

I have had the opportunity over the past weeks to meet with several Members 

of this Committee, and it has been very helpful to understand the issues you feel 

are most important with respect to the Treasury Department and terrorist financing. If confirmed, I look forward to working with all Members of the Committee, and 

your staff, on this crucial national security matter. 

There are four brief points that I underscore for the Committee this morning: 

First, I understand the criticality of a close, bipartisan working relationship with 

Congress. From 1995–2001, as the Senior Professional Staff Member for National 

Security Affairs on the Foreign Relations Committee, I drafted multiple pieces of 

sanctions legislation, most of which were subsequently enacted into law with overwhelming bipartisan support. The focus of these statutes was (and remains) to combat the proliferation of weapons of mass destruction (WMD) and missile systems, 

and to disrupt foreign terrorist and trafficking networks. 

Second, I appreciate how important are financial and economic tools in the fight 

against terrorism. After 9/11, I served as the Principal Deputy Assistant Secretary 

for Special Operations and Low Intensity Conflict (SO/LIC). Disruption of the terror 

network’s financing operations featured heavily in both our planning, and in dayto-day operations. Working very closely with multiple Treasury offices, I established 

the first DoD Counter Threat Finance cell, with a detailee from Treasury playing 

a central role. 

Third, ‘‘buy in’’ from friendly Nations is crucial to the work of the Terrorist Financing office. At NATO, from 2003–2006, I served as the Assistant Secretary General for Defense Investment. My time at NATO taught me the importance of forging 

close working relationships with officials from across the Alliance. While at NATO, 

I secured Alliance agreement to launch more than a dozen counter-terrorism related 

measures, and this experience will greatly assist in the international duties of the 

office to which I have been nominated, if confirmed. 

Finally, disrupting terrorist finance and illicit trade requires working closely with 

the private sector. Since 2009, I have served as Managing Director at Deloitte, 

where I lead the Federal Business Intelligence Services (BIS) group. We perform 

commercial due diligence into third parties on behalf of Federal agencies and commercial clients to protect against doing business with entities accused of corruption, 

narcotics trafficking, money-laundering, child or slave labor, or other worrisome 

matters. I bring close working relationships across the global financial services, 

technology and telecommunications sectors, and will leverage those professional connections to advance our national security agenda. 

In conclusion, I appreciate the opportunity afforded by the Committee on Banking 

to appear before you today as your consider my nomination. Over the past 22 years, 

I have had the privilege of working closely with the Department of the Treasury 

on terrorist financing and financial crimes in a variety of capacities, and I bring a 

unique combination of legislative, executive branch, and private sector experience to 

the role. If confirmed by the Senate, I will work very closely with this Committee 

61 

to drive policies and actions to disrupt illicit finance and terror networks, and to 

advance our national security. I appreciate your time this morning, and look forward your questions. 

62 


51617021.eps

STATEMENT FOR COMPLETION BY PRESIDENTIAL NOMINEES 

Name: Billiagslea 

(Lasl) 

Manball 

(f'nt) 

Stott 

(Mi.1dle) 

Position to wbkb nominated: Assistaot Setretary oftbe Treasury for Terrorist Fioaoeing 

Date of nominatioa: 

Date ofbirtb: 14 07 1971 Place of birth: Montgomery, AL 

(Day) (Monlh) (Y .. ) 

Marital Status: Married Fall aame of spouse: Karen Aane Billiogslea 

Name aod qes of child reo: 

Morgao Billiagslea, IS 

Elsa Billiagslea, 13 

Edacatioa: 

Institution 

~College 

The Fle«<ler School 

ofLawllliiDiplOOIZ:)' 

Dates 

attended 

191!9-1993 

1993-1995 

Degrees 

reeeived 

B.A 

Mas~er's 

Dates of 

degrees 

May,l993 

May,l995 

Hoaon 

ad awards: 

list below all scholmhips, fellowships, honorary degrees, military meda.ls, honorary 

society memberships and any other special recognitions for outstanding service or 

athievement 

The SecretaJy of Defense Medal for Outstanding Public Strvice 

The SecretaJy of Defense Medal for Distinguished Public Service 

The SecretaJy of the Navy Medal for Distinguished Public Service 

C= of Merit of the Minister of Defence of the Czech Republic 

Order of the C= ofT em Mariana of Estonia 

Order of Merit of the Republic of Poland 

Membenhips: List below all memberships and ofliees held in professiona~ fraterna~ business, scholarly, 

civic, tharitable and other organizations. 

Organization Office held (if any) 

The Atlantic Council 

Network Centric Operations Industry Consortium 

Dates 

2009-jl!esent 

200 5-jl!esent 
63 


51617022.eps

Ellploymeot rmrd: List below all positions held since college, including the title or description of job, name 

of emp oymen~ location of work, and inclusive dates of employment. 

The Senate Committee on Foreign Relations, Senior Professional Staff Member for National Security Affairs, 

1995·200 I (Washington, DC) 

Deputy Assistant Secretary of Defense for Negotiations Policy, 2001 -2002 (Washington, DC I Pentagon) 

Principal Deputy Assistant Secrelaty of Defense for Special Operations I Low Intensity Conflict, 2002-2003 

(Washington, DC I Pentagon) 

NATO Assistant Secretary General for Defense nvestmen~ 2003-2006 (Brussels, BE/NATO HQ) 

The Deputy Under Secrelaty of the Navy, 2006-2.009 (Washington, DC I Pentagon) 

Managing Director at Deloitte, 2009 - present (Arlington, VA) 

Goverome1t 

experince: list any experience in or direct association with Federal, State, or local governments, 

including any advisory, consultative, honorary or other part time service or positions. 

The Senate Committee on Foreign Relations, Senior Professional Staff Member for National Security Affairs, 

1995-2001 (Washington, DC) 

Deputy Assistant Secretary of Defense for Negotiations Policy, 200 I -2002 (Washington, DC I Pentagon) 

Principal Deputy Assistant Secretary of Defense b Special Operations I Low Intensity Conflict, 2002<02003 

(Washington, DC I Pentagon) 

NATO Assistant Secretary General for Defense Investmen~ 2003-2006 (Brussels, BE/NATO HQ) 

The Deputy Under Secretary of the Navy, 2006-2009 (Washington, DC I Pentagon) 

Managing Diredllr at Deloitte, 2009- present (Arlington, VA) -In this capacity I provided advisory services to 

multiple Departments and Agencies of the Federal Government. 

P•bllued 

Writings: list the titles, publishers and dates of books, articles, reports or other published materials 

you have written. 

Combating Terrorism Ttrough Technology, NATO Review, Autumn 2004 

(Similar Article Printed in Wall Street Journal Europe (2004)) 
64 


51617023.eps

Political 

Affiliatioas 

Moscow's Missile Defense Bluster, Wall Street Journal Europe, March 2007 

NATO Agency Reform, Done Right, Atlantic Coonci~ December 20 II 

National Seturity Implications of Corporate Invernon: FOCI, CI'IUS, and Export Controls 

(oo-author), Deloitte & Kay&&holer, September 2014 

How Federal Agencies Can Improve Supply Chain Risk Management, Wall Street Journa~ 

April 2016 

"l'hreats Posed by Third Party Insiders", oo-author, Chapter I 0 in "Insider Threat: 

Protection, Detection, Mitigation and Deterrence, • May 2016 

aod l(tivities: List memberships and offices held in and services rendered to all political parties or 

election committees during the last I 0 years. 

Registered Republican 

Member ofT rump Transition Team for the National Security Council 

Potitical 

Cootributioos: Itemize all political contributions of$500 or more to any individual, campaign 

Qualificatioos: 

Future employmeat 

rebtioosbips: 

organization, political party, political action committet or similar entity during the last eight 

yeaJS and identify specific amounts, dates, and names of recipients. 

Romney for President Inc., $5,000, ($2,500 for Primary on 3/12120 I 2 & $2,500 for General 

Election on 713tll012) 

McCain Palin.Compliance Fund, Inc. $2,300, 9/3012008 

State fully your qualifications to serve in the position to wllicb you have been named. (attach 

sheet) 

Please see Attacl-.nent. 

!.Indicate wllether you will sever all connections with your present employer, business 

firm, association or organization if you are confirmed by the Senate. 

Yes, except with respect to the deferred oompensation plan, as stipulated by the Office of 

Government Ethics (OGE}. 

2. As far as can be foreseen, Slate whether you have any plans after completing 

government service to resume employment, affiliation or practice with your previous 
65 


51617024.eps

Cf11)1oyer, business firm, association or organization. 

No plans. 

3. Has anybody made you a commilment to a job after you leave govenunent? 

No. 

4. Do you expect to serve the full tenn for which you have been appointed? 

Yes. 
66 


51617025.eps

Potential coallicts 

ofiatemt: 

Civil, criaiaal and 

iavestigatory 

ac:tioas:· 

1. Describe any financial anangements or deferred compensation agreements or other 

oontinuing dealings with business associates, clients or customers who will be affected 

by policies which you will inftuence in the position to which you have been nominated. 

None. 1 ha~ consulted with the Deparanert of the Treasury's ethics staff and the Office of 

Government Ethics regarding potential issues arising out of my financial holdings, past 

income, and past employment relationships. These ha~ been addressed in the ethics 

agreement I entered into with the Department of the Treasury's designated agency ethics 

official. I am not aware of any other potential conflicts of interest 

2. List any investments, obligations, liabilities, or other relationships which might invol~ 

potential confticts of interest with the position to which you ha~ been nominated. 

Pursuant to the ethics agreement I entered into with the Department of the Treasury's 

designated agency ethics officia~ if confirmed I will divest stock in General Electric. I am 

unaware of any other potential conflicts of interest. 

3. Describe any business relationship, dealing or ftnaneial llansaction (other than tax 

paying) which you have had during the last 10 years with the Federal Govenunen~ 

whether for yourself, on behalf of a eli~ or acting as an agen~ that might in any 

way constitute or result in a possible conflict of interest with the position to which you 

ha~ been nominated. 

Nothing to report. 

4. List any lobbying activity during the past ten years in which you have engaged in for the 

purpose of directly or indirectly influencing the passage, defeat or modification of any 

legislation at the national 1~1 of government or affecting the ministration and 

execution of national law or public policy. 

Nothing to report. 

S. Explain how you will resolve any conflict of interest that may be disclosed by your 

responses to the items abo~. 

I have executed an ethics agreement with the Department of the Treasury's designated 

agency ethics official and will abide by the terms of such agreement. If confirmed, I will 

consult with edlics counsel in the event that I identify a potential conftict of interest. 

I. Give the full delails of any civil or criminal proceeding in which you were a defendant 

or any inquiry or investigation by a Federal, State, or local agency in which you were 

the subject of the inquiry or investigation. 
67 


51617026.eps

None. 

2. Give the full delails of any proceed~ inquily or investigation by any professional 

association including any bar association in which you were ·the subject of the 

proceeding. inquiry or investigation. 

None. 
68 


51617027.eps

Statement ofQualifution to Sem: 

Over the past twenty-two )'eaiS, I have had the privilege ofworidng closely with the Department of the Treasul)' on 

terrorist financing and financial crimes in a variely of capacities. As the President's nominee to sem: as Assistant 

Secrelal)'ofthe Treasury for Terrorist Financing, and ifcoofumed by the Senate, I bring to the position a unique 

combination oflegislative and executive branch experience that will augment the skill se1s of both career pe~el 

and political appointees serving within the Office of the Under Secre!al)' of the Treasul)' for Terrorism and 

financial Intelligence (TFQ. 

F'lllt, I understand the criticality of a close working relationship with Congress. From 1995-200 I, as the Senior 

Professional Staff Member for National Security Affairs on the Senate Committee on Foreign Relations (SFRC), I 

drafted for the Committee multiple pieees of sanctionsofelated legislation which were subsequently enacted into law 

with strong bipartisan support. The focus of these statutes was (and remains) to comhat the prolifmtion of 

weapons of mass destruction (WMD) and missile systems, and to disrupt foreign terrorist and trafficking networks, 

through the targeted application of sanctions on individuals, commercial entities, and on foreign governments 

sponsoring such activities. Overthecourseofmore than six years, I collaborated with theOfliceofForeign Assets 

Contro~ the Department of State Counter-Terrorism Coordinator and the Nonproliferation Bureau, and the U.S. 

Intelligence Community to ensure that these statutes were effectively implemented, and that additional tools and 

resources were made available to counter both terrorist and WMIXelated threats to our national security. I 

therefore have the deepest appreciation for the important role played by Congress in these matters. 

Second, I have a background working on the closely-related topics ofterrori.sm and prolifmtion across both the 

U.S. intera~ncy and internationally. In 2001, I assumed the role of Deputy Assistant Secretary of Defense for 

Negotiations Policy, where- among other things-I was responsible for establishing DoD policy on 

nonproliferation and counter-proliferation matters. Chief among those duties was the requirement to work closely 

with friendly and allied nations to disrupt and deter terrorism and to prevent acquisition ofWMD by terrorist 

organizations. In so doing. I conlribured to the launching of several new multilateral initiatives, such as the 

Prolifmtion Security Initiative, expansion of the SUppression ofUnlawful Acts at Sea Convention, and the World 

Health Organization's ackoowledgrnent that the US would retain stocks of the smallpox virus to assist in 

development of new defenses against potential terrorist weaponilation of the deadly viru~ 

Third, I appreciate how important are financial and economic tools in the fight against terrorism. After 9/I I, I was asked to assume the role of Principal Deputy Assistant Secretary for Special Operations and Low Intensity Conflict 

(SOILIC). In that position, Secre!al)' Rumsfeld cha~ me with developing the first global campaign plan against 

ai'Qaida. Disruption of the terror network's financing operations featured heavily in both our planning, and in dayt<Hlay operations. Working very closely with multiple Treasury offioes, I established the first DoD Counter Threat 

Finance cell within SOILIC, with a detailee from Treasul)' playing a central role. As a member of the interagency 

Counter-Terrorism Security Group (CSG), I coordinated with both the FBI, Intelligence Community, State 

Department, and the Treasul)' to identify and disrupt critical financiers, and financial transfer mechanisms (e.g., 

hawalah hanking and funding flows between non-governmental "charities" supporting terrorism). in addition to a 

range of other operational activities. 

Fourth, "buy in" to new initiatives by friendly nations is often crucial. At NATO, from 2003-2006, I served as the 

Assistant Secreta!)' General for Defense Investment In that capacity, I forged close working relationships with 

officials from across the Alliance-many of whom retain senior offices in their capitals and are in a position to 

support US initiatives to comhat illicit financial flows. While at NATO, I secured Alliance agreement to launch 

more thana dozen counter-terrorism related measures, and drove creation ofNATO'sSpecial Operations 

Headquarttrs. In addition to working with Foreign and Defense Ministers, I also worl<ed closely with Finance 

Ministers to secure funding for a number of new programs, such as creation of a NATO training mission in Iraq and 

10 
69 


51617028.eps

acquisition ofNATO theater balliltic missile defenses. My llaclc recool at NATO is ooe of innovation and careful 

cultivation of multinational support. 

Finally, disrupting terrorist finance and other forms of illicit llade requires working closely with the private sector, 

llilether- for instance-to improve banking procedures, or to understand and capitalize on revolutionary 

technologies, tactics, and techniques. Since 2009, I have served as Managing DireciOr at Deloitte, the world's 

largest professional services finn. Within Deloitte, I lead the Federal Business Intelligence Services (BIS) group, 

wbich performs cutting-edge conwercial due diligence into third parties on behalf of both the Federal Government 

and many Fortune 500 companies. Our BIS group serves a wide range of intelligence, counter-intelligence, and law 

enforcement clients. The results of our investigations have contributed to OFAC sanctions, UN Security Council 

Resolutiotls, and actions by the Departments of Commerce, State, Defense, Customs and Border Protection, and the 

Drug Enforcement Agency to disrupt the fmancial and business ecosystems of multiple terrorist groups and sta ~ 

sponsors. I bring to the Treaswy Department close W<lflting relationships across the global financial services, 

technology and telecommunications sectors, and will leverage those professional connections to advance our 

national security agenda. 

In conclusion, I appreciate the opportunity afforded by the Committee on Banking to describe my credentials as 

they relate to countering terrorist finance. My experience gives me Congressional, diplomatic, special operations, 

and private sector perspectives oo this complex challenge. I also have a llack recool of successful innovation, 

wbich is essential ag~~instadversaries whocontinuetoevolvetheirown lladecraft. I believe my skills will 

complement those of other nominees to senior Treaswy positions, and I look forward to further discussions with the 

Committee. 

11 
70 

PREPARED STATEMENT OF HEATH P. TARBERT 

TO BE ASSISTANT SECRETARY, INTERNATIONAL MARKETS AND DEVELOPMENT, 

DEPARTMENT OF THE TREASURY

MAY 16, 2017 

Chairman Crapo, Ranking Member Brown, and distinguished Members of the 

Committee, I am honored to appear before you today. I am humbled by the confidence the President has shown in me by nominating me to be the next Assistant 

Secretary of the Treasury for International Markets and Development. 

I appear before you today with full recognition of the serious responsibilities associated with this position. If confirmed as Assistant Secretary, I would lead nine of 

the Treasury Department’s offices charged with protecting and supporting foreign 

investment in the United States, reducing global financial instability, fostering 

international economic development, and managing key global challenges. I believe 

that my professional background and desire to serve our country will enable me to 

perform this role and work to keep our country safe and prosperous. 

While growing up in Baltimore, my family emphasized hard work, education, and 

the importance of public service at every level of Government. Both of my grandfathers fought in World War II: one with the Army in Europe, one with the Navy 

in the Pacific. One of my uncles was a police officer; another a firefighter. My father 

went to night school to become an accountant, and eventually served as Comptroller 

of the Maryland Port Administration and of the Baltimore County Community College System. Although my father passed away after a courageous battle with cancer, 

his commitment to public service remains a guiding example for me. 

Each of my adult guests today is or has been a public servant. My mother retired 

as a Child Support Enforcement Officer, my sister-in-law is a public school teacher, 

and my brother just completed a term as Deputy Mayor of Baltimore for Economic 

and Neighborhood Development. Finally, my wife Kate and I met clerking for the 

U.S. Court of Appeals here in Washington. Now a full-time mom to our two young 

sons, she has served in the Justice Department and as a law clerk to the Chief Justice of the United States. I have been inspired by their dedication to public service 

as well. 

I, myself, have had the privilege of serving in all three branches of the Federal 

Government. One of my most enjoyable jobs in public service was working as Special Counsel to this Committee in 2009–10. During that period, I had the privilege 

of working closely with Banking Committee staff members and legislative directors 

on both sides of the aisle on a number of important international economic issues. 

It was especially an honor to serve under your leadership, Senator Shelby. 

Since leaving the Banking Committee staff, I have practiced as a regulatory compliance lawyer, with a chief focus on international markets. In this role, I have assisted public and private sector institutions from outside the United States make 

investments in our country that created jobs for working Americans and their families. I have also helped financial services companies around the world comply with 

regulatory and supervisory measures intended to make them safer and sounder, 

thereby reducing or eliminating the possibility of future taxpayer-funded bailouts. 

In addition, I have designed compliance programs aimed at detecting and preventing money laundering and terrorist financing. 

If confirmed as Assistant Secretary of the Treasury, I hope to work closely with 

this Committee, others in the Senate and House of Representatives, and my colleagues in the Administration to carry out my responsibilities. 

Thank you again for the opportunity to appear before you today. I am happy to 

answer any questions you may have. 

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STATEMENT FOR COMPLETION BY PRESIDENTIAL NOMINEES 

Name: Tarbert 

(lasl) 

Heath 

(First) 

Price 

(Middle) 

Position to which nominated: Assistant Secretary of the Treasury 

lor International Martcts and Development 

Date of nomination: April 4, 2017 

Dale of birth: 15 July 1976 

(IJ:I)') (Monlll) (Yar) 

Marital Status: Married 

Name and ages of children: 

llCI~ami n !·Ieath Tarlx.'rt (A!,~ 5) 

N;uhaniel Pn:scou Tarbert (Age 2) 

Education: 

INSTITUTION DATES ATTENDED 

University of Oxford September 2001-

Oxford, England Dctclnber 2005• 

'tio-Sqbl<r:!IOI· l'<hw<vlOOll 

University of l'cnnsylv:mia August 1998· 

Philadelphia, Pennsylvania 0.-.;cmber 2002• 

'(ha~hb!ctAupt~~l998--

!bylOOII 

Mount St. Mttry's University August 1994· 

Emmitsburg, Maryland May 1998 

Place of birth: Baltimore, Maryland 

Full name of spouse: Kathryn Elizabeth Tarbert 

DECREES RECEIVED DATES OF DECREES 

Doctor or Philosophy (DPhil) November 2005 

Master of Studies (MSt) No1•cmber 2002 

Doctor or Juridical Science (SJD) December 2002 

Juris Doctor(JD) May2001 

llaellclor of Science (BS) May 1998 
72 


51617030.eps

Honors 

and awards: 

List below all scholarships, fellowships, hononuy degrees, military medals, honoory 

society memberships and any other special recognitions for outstanding service or 

achievement, 

Profession:ll Honors & Awanls 

Band 3 Ranking, Finondal Services Regulation (Nationwide), Chambers USA (2016) 

"Washington, DC Super lawyer," Super Wli)WS (2016) 

"Recommended Lawyer" for Financial Institutions Regulatory, The Legal jQO USA (2013, 2014,2015, 2016) 

"Leading lawyer," IFLR /000: The Guide ro the World's Leodi11g fAll' Firms (2012, 2013,2014,2015, 2016) 

"Washington, DC Rising Star," Super Lm~t-ers (20 13, 2014, 2015) 

"Up and Comer" for Financial Services Regulation (Nationwide), Chambers USA (2015) 

''Leading Advisor," AlYJIIisiriolllmerooriollal (2014) 

'·Rising Star" in Banking, Lmr 360 (2013) 

"Rising Star of Corporate Governance," Columbia University. Millstein Center for Global Markctsand 

COfJ)()ratc Ownership (2013) 

Dean's Circle of Excellence Award, Mount St. Mary's University (2013) 

Pro llono Service Awnrd. \Veil, Gotshal & Manges LLP (2011, 2012, 20 13) 

Recognized in "Guide to Wortd.Ciass L.111~<crs," Lall'di'Ogo11(20 12) 

Ounon Award for Lcgnl Writing, lliC Ounon Foundation (2011) 

DistinguisliCd Young Alumni Award. Mount $1. Mary's University (2010) 

M. Stanton Evm~1 Alumni Award, Intercollegiate Studies Institute (2007) 

Graduate llonoo-s, Awards, & Scholarships 

The Thouron Award for Postgrndu:otc Study in the United Kingdon1 (200 1-2002) 

Oscnr llrcgn1an Grndt~1t on Pri7£ for E~cellcncc in Business law, University of Pennsyll•ania (200 I) 

Order of the Coif, University ofPc~ sylvn ia (2001) 

Humane Studies FcllowsloiJ). Institute for Humane Studies (2000-2001) 

Mendes Hershman Student Writing Award, American Bar Association (2000) 

University of Pennsylvania law School Scholarship (1998-2000} 

Italian American Civic Club of Maryland ScholarsJ1ip (c. 1998-2000) 

J.C. Stewart Memorial Trust ScholarsJ1ip (c. 1998-2000) 

Undergraduate Honoo-s, Awards, & Scholarships 

Bishop Edward P. Allen Memorial Prize (highest scholastic a1·cragc after four years). Mount St. Mary's 

Unil•ersity ( 1998) 

Edward T. Hogan Memorial Prize for Pre-law Studies, Mount St. Mary's University ( 1998) 

Monsignor &mard J. Brndlcy Memorial Prizes for Accounting and Business Administration, Mount St. Mary's 

University ( 1998) 

Project 21 Poster & Essay Competition Scholarship(l998) 

Mount St. Mao)"s Honors Scholarship (1994-1998) 

National Dean's List ( 1994-1998) 

Dean's List. Mount St. Mary's University(l994-1998) 

Monsignor Tierney Memorial Prize (highest scholastic avcrnge after junior Y<.':tr~ Mount St. Mary's University 

(1997) 

Delta Mu Delta (National Honor Society for Business Administration) ( t9%-1998) 

Della Epsilon Sigma (National Catholic Honor Society) ( 1996-1998) 

Phi Sigma Tau (lntemation.1l ~lo r Society for Philosophy) ( 1996-1998) 
73 


51617031.eps

Honors lntcmship, Federal Bureau of lnvL'Stigation, Washington, D.C. (Summer 1997) 

1st Pln~-c. 1711! A(wlt ofthe Roblx,. Barou.v National Essay Contest, Young America's Foundation ( 1997) 

Student Ll'ltdership Award, Wtt/1 Stmel Jourual ( 1997) 

Golden Knisht Awmd, Knights of Columbus (1997) 

Awnrd i'l~~cellcncc, lltc Maryland Association ofCPAs (1997) 

llcalthcarc Financial Management Association Scltolarship(l997) 

Mildl\...1 It Marion Scholarship, Delta Mu Delta (1997) 

Mid-Atlantic Association of College l·lotiSing Oniccrs Award (1997) 

Delta Epsilon Sigma Scholarship (c. 1997) 

Maryland Association oi'CPAs Scholarship (c. 1996-1997) 

NatiomlllottOrs Fellow, Intercollegiate Studit.'S Institute ( 1996-1997) 

William G. Mt.-Gowan Scholarship (c. 1996-1997) 

Edmund Rynn Memorial Prize ighcst scholastic average nficr sophomore }'l.'llr), Mount StMary's University 

(1996) 

Du<'Crc Awnrd. Ollit'C of Student Dc1·elopmcnt Mount St. Mmy's Univcrsily(l996) 

Helen D. Snow Scholarship, Delta Mu Delta ( 1996) 

Mount St. Mary's Catholic High School Scholarship (c. 1994-1996) 

State of Maryland Gcncrnl Scholastic Grnnt (c. 1994-1996) 

Chainnan oft II;) Year Award, Maryland Federation of College Republicans (1995) 

Monsignor Hug.h J. l'hillips Prize (higltl'SI schula.'ilic avcrngc aner freshman year), Mount St. Mary's University 

(1995) 

Memberships: 

llnr Admissions 

List below all memberships and offices held in professional, fratcmal, business, scholarly, 

civic, charitable and other organi1.ations. 

Supreme Court of England & \Vales (Solicitor) (20 I 0) 

Supreme Co\lrt ol'dte United States (2008) 

U.S. Court or Appeals for the D.C. Circuit (2006) 

U.S. Court of Appeals for the Second Circuit (2005) 

District orCohunbia (2004) 

State of New York (2003) 

Fin nncial Cct·tificaliuns/Chnrlm 

Certified Ant -Mo ~ Laundering Specialist (CAMS) (2015) 

Chartered Financial Annlyst(CFA)(2013) 

Certified Public Al'countanl (CPA) (2003) 

McmhcrshillS & Offices Held Currcnllv/Rcccnllv 

American law Institute, Elected Member (20 17-Prcscnt) 

American &r Foundation, Life Fellow (2016-Pn:scnt) 

Association or Certified Anti-Money laundering $pt.-cia lists (2015-Prcscnt) 

/Jioomlll!l'g BNII/Iuukiug Repot't, Board or Advisors (20 15-Prcscnt) 

lkl'iell' 11/St:r.·urities & Commodities Reguluiiou, Board of Advisors (20 15-Prcsent) 

The Mcti'O(JOiitan Club of Wasl ingto ~ D.C. (20 15-Prcscnl) 

New York Society of Security Analysts (2014-Prcsenl) 

American hl•tillrte of Certified Public Al'countants (2013-Prcscnt) 

1l1e Atlantic Council (20 13-Prcscnl) 
74 


51617032.eps

llarvard l.1w School, Program on International Financial Systems. Senior Fellow (20 13-Pr.,'SCnt) 

American Enterprise Institute, Young Enterprise Club (2012-Present) 

11te Bretton Woods Committee (2012-J>resent) 

Exchequer Club of Washington, D.C. (20 12-Prcscnt) 

Ret•im of lkmking olltl Financial Sen·ices.lloard of Advisors (2012-Present) 

Ft:dcrnl Bar Association, Banking law Executive Council Member (2012-2015) 

American Bar As:scciation (c. 2011-Pr.,'SCnt) 

• Committee on Corporote Governance (20 16-Prescnl) 

Sulx:ommittee on Systemically hnponant Financial Institutions, Chairman (20 14-Prcsent}, Vice 

Chainnan (2011-2014) 

Banking ww Committee (2011-Present) 

Banking Lm.-Joumal, lloard ofEditors(2011-Prcscnt) 

Salzburg Global Fcllo11~hip, Faculty Member & Fellow (2011 -Present) 

Council on Foreign Relations. Tcnn Member (2011-2016) 

Mount St. Mary's University, Pre-Law Advisory Board Member(2010-Prcsl1tt) 

Shrine or the Most Bksscd Sacrament, Parishioner (201 0-Prcscnt) 

Sovereign Military Order or Malta, Knight of Magisterial Grace (2010-Prcsent) 

11te Heritage Foundation (c. 2005-Prc;;cnt) 

Cathedral ofSt. Matthew the Apostle, Parishioner(c.2005-2010) 

CFA Institute (c. 2003-Prescnt) 

Tite Oxford Union. Life Member (2001 -Pn.'Scnt) 

Federalist Society lor Law and Public Policy Studies (1998-Present) 

Knights of Columbus, 4

11' Degree Knight (c. 1995-Prescnt) 

Intercollegiate Studies h1Slitutc ( 1994-Prcsent) 

National Eagle Scout As.<;aciation (c. 1991-Present) 

Mcmhcrsltitls & Offim llcld as a Full-Time Gr-Jduntc/Undcrgntduate Student 

Oxford University Conservative Students As:scciation (2001-2002) 

Oxford Speakers Club (2001-2002) 

President oftltc Penn law Class of2001 (2001) 

Penn law Republic:ms, President (2000-2001) 

Penn Law Fcdernli;;t Society. Pn:sidcnt (1999-2000) 

1/an·ard Jo1111ktl of Law & l'nblir l'olic_t• Annual Symposium Issue, Executive Editor (2000) 

Unit•ersity of l'cnn~r/l'(mia lAw Ret•iell', Senior Editor ( 1999-2001) 

Delta Mu Delta, College Chapter President (c. 1997-1998) 

Maryland FcdcratiOfl of College RcpubliC:lns 1st Vice Chair(1996-1997) 

Maryland lligl-..:r Education Commission, Student Representative (c. 1996-1997) 

Student Govcmmcnt Ext:cutive Board. Security Commillee Chair (c.l996-1997) 

Mount St. Mary's Business School Advisory Board (1996-1998) 

Mount St. Mary's lntemational AIT.1irs Organization (c. 1996-1998) 

Model Arnb Lt:aguc, National Council on U.S.-Arnb RelatiOfls, Student Panieipant (c. 1996) 

Society for the Advancement of Management, College Chapter President (e. 1995-1997) 

Catholic Charities or Maryland, Proj•'Ct Aware Campus Coordinator (c. 1995-1997) 

Mount St. Mary's Campus Ministry, Usher Chaimtan (e. 1995-1997) 

Mount Republicans, Founder and President 99~-1996) 

Maryland Special Olympics. Voluntecr(c. 1994-19')5) 
75 


51617033.eps

Employment record: List below all positions held since college, i11<:luding the title or description of job, name 

or employment, locatioo or work, and inclusive dates or employment 

Allen & Orrry LLI', Washington, D.C .. New Yen, London 

l'm1111!r, January2014-Pn.'Scnt 

Chair the U.S. b;mk regulatory group and serve as a mcmher of the UK-EU linancial services 

regulatory practice. 

I lave counseled more than 130 banks, securities frnns. clearinghouses, and otl~<:r institutions on 

c-ompliance with U.S. finm~<:ial aws. 

S1x.'tializc in!Aldd-Fmnk Act £Uida11<:c, focusing on recovery and resolution planning, systemic risk 

regulation. and S1ructuring and t-ompliancc activities in connection with the Volckc'f Rule. 

Counsel clients on intcmational regulatory and prudential standards issued by the Basel Committee 

on Banking Sup•:rvision and other intcmational bodi\-s. 

Rcpn.-scnl clients on cybcrsccurity, anti-money la n~cring, and counter-ten-oris! financing 

compliance and inl'l'Stigations. 

AdviiC in crisis management situations and represent clieniS resj)onding to congrcs~ional inquiries. 

Weil, Gotshnl & Manges LLP, Washington, D.C .• New Volt 

l'tlr/1/er. January 2012-Dcccmbcr 2013 

Seuior Cou11se/, Aprii20Hl-Dcc,~nbcr 2011 

• Counseled more than SO tinm~<:ial institutions, private equity firms, and sovereign wealth funds on 

aspccts of the Dodd-FrJnk Act and other fcdcmllxmking and securities laws. 

• Established and led the finn's Financial Regulatory Reform Working Group and served as co-chair 

of the Financial Institutions Regulatory pmcticc. 

U.S. Scnntc Committee on llnnking, tlousiog, and Urbnn AlTair.; 

S!Jecial CowlS!'/. August2009-March 2010 

• Served as an cxpcrt and ~<:got ator on the various legislatii'C proposals that culminated in the DoddFrnnk Act 

• Provided cxpcrtisc on measures aimed at the reduction or systemic risk, the prudential regulation of 

financial institutions, and the ccntmlizcd clearing or orcr·thc-countcr dcrivatil•cs. 

Committee on Capital M:1rkets Regulation, Cambridge, MA 

l'ke l'r!'Sideut & Deputy Director, February 2009-August 2009 

• Managed the coordination and wen or the Committee-a group of30 lcad~rs from business. 

finance, law, accounting, academia, and the investor community-focusing on the compclitivcncss 

ofU$. capital markets and financial stability. 

• Supervised approximately 25 full-time and part-time stan· members and ll-search associates in a 

\'llricty of projects, ~<: uding completion of a 300-pagc IJOiicy manuscript entitled rr,e G/obol 

Fiuanciol Crisis: A 1'/orifor Regulatory Re/01111. 

Exccutirc Office of the President, The White llouse 

A.~.toci(lte Cou11selto tr,c Pr~ideul, August2008-January 2009 

• Provided legal advice to senior White House and Cabinet department officials with respect to 

financial maltcts and related economic issues. 

• Served as counsel to the National Economic Council :md the Council of Economic AdviSt.'fS. 

• Served as lcgnlliaisonto the Tll'llSUry D<'J)llrtment, Federal Reserve Board, Securities and t::xclmnge 

Commission, and Fedeml Dcpositlnsumncc Corporation during the global tinancial crisis. 

5 
76 


51617034.eps

• l'rovided legal analysis of constitutional issues relevant to the U.S. Prcsidcnt.'Y. 

• llcld U.S. Go1•ernment Top Secret/SCI clearance. 

,Justice Cl:u·encc Thomas, SuJli'Cme Court of the United States 

/.ow Cle'*· July 2007-July 2008 

• Reviewed and wrote memomnda on hundreds of petitions for ccniornri; assisted with merits wolt 

and other business oft he Supl\,ne Court. 

• Held U.S. Gomnmcnt Top Secret/SCI clearnnce. 

Office of Legal Counsel, U.S. Depnrtment of .Justice 

Allome)'·AcMm, September 2006-July 2007 

• DrnRcd legal opinions on behalf oft he U.S. Auomcy Gcnernl and provided wrillen opinions and oral 

advice in I'CSJXl'tSC to requests lromthc White House and Cabinet dcpanmcnts and agencies. 

• Reviewed over I 00 pieces of pending legislation for constitutional issues. 

• Analyzed proposed executive orders and presidential proclamations for fonn and lcg.1lity. 

• llcld U.S. Gol'i:rnmcnt Top Secret/SCI clearJnce. 

Chief Judge llnugla.~ H. Ginsburg, U.~. Court of Appeals for the D.C. Circuit 

/.im• Clel'li. August2005-August2006 

• Assisted with the disposition of over 30 eases and do7.cns of petitions for panel and en bane 

rehearing; perfonncd research for severn I scholarly publications. 

• llcld U.S. Government Top Secret/SCI clearance. 

Sullivan & Cromwell LU', Washington. D.C. 

Associate. February 2003-Augtllf 200) 

Summrr 1/.v.wciate, 2000 ~nd 200 I 

• Pcrfonncd COI]lOratc due diligence lor m:~or transactions and filed periodic repcrts with the 

Securities and Exchange Commission. 

• Droned legal briefs and other submissions for courts and fcdcrnl agcncics. 

U.S. Altorncy's Office, B:lhimore. Maryland 

Law Clerk, Violent Crime and Drug Unit, Ci·imina/ Dirisian, June 1998-AugUSI 1998 

• Researched legal issues and dmftcd memoranda. responded to defm'iC motions, summarized trial 

tmnscriJ>ts for appellate bricls. 

Pill' lnc .. l hull Valley, Mayland 

ft1surm1ce i'trifier/Lease Tracker, May 1998-Augustl998 

• Verified automobile insurance on leased vehicles and trnincd other cmployc..--s on a new auto-dial 

telephone/computer system. 

Government 

experience: List any experience in or dim:t association 11~th Fedcrnl, Slllt.:, or local governments, 

including any advisory, consultative, honomry or other part time service or positions. 

As noted in my Employment Record above, I have scn•cd in the following capacities 111thin thc fcdcrnl 

Govcnunenl: 

• Special Counsel, U.S. Sen:uc Committee on Banking. Housing, and Urban AIT.1irs (2009-2010) 

• Associate Counsel to the President, ll1c White House (2008-2009) 

6 
77 


51617035.eps

1 Law Clerk, Supreme Court of the United Stales (2007·2008) 1 Allomcy·Adviscr, Onicc of Leg:~ I Counsel. U.S. Department of Justice (2()()6.2007) 1 Law Clerk, U.S. Court of Appe-Jis for the D.C. Circuit (2005-2006) 1 Law Clerk. U.S. Allorncy's Ollicc (D. Md.) (1999) 

In addition to those positions listed above, during high school and college I also scrvt:d in the following 

capacities within the Fc-dcrnl, Smte. and local sovcmmcnt: 1 llonors Intern. federal Bureau orlnvcstigation (1997) 

I Student RCJ>rcscnlativc, Marylaud Higher Educa1i011 Commission (c. 1996·1997) 1 Circulati011 Assistant, Baltimore County Public Library(c. 1991·19<14) 

PubUsbcd 

Writings: Lisllhc lilies, publishers and dales of hooks, articles, reports or other published materials 

you have wriucn. • 

Bmtk·Affliate Tt·au.<IK'tiunv. BLOOMIII'RG BNA BANKING PRACTICE PORll'OIJO SFRII:S (forthcoming 2017) (coauthor). 

I.Jquidity Cul'era):e R11tio, BLOOMUI'RG BNA BANKING PtVICOCE PORTI'OIJO S~RII:S, No. 451 (20 17) (coauthor). 

Priuciph>cl Aa'IJmm(){/atitm: Tlze Hush Admiuistratiou·s Approach to Cougressioual 01'ersiglucmd £recuti•·e 

l'z·Mk>ge. 32 J.L & POt. 95 (2016)(co-author). 

Cy/x'l'securityfor Bouks: The /.ego/ tmtl Ht>gulatozy Fromeuwk, PRACllCAL Ll II'· TilE JOURNAL 52 

(June 2016) (co-aulhor). 

The Perils mull'romisr o.fCorrespoucleutBtmkiug. 133 BANKING L.J. 53 (Feb. 2016)(co-aulhor). 

Volt-kez· Rule Comimu!s 111 C1wllcuge the CLO Market. LA IV 360 (Oct 22. 2015) (co-author). 

CLOs atlfltlze Voleker Rule, REV.l3ANKING & fl~. SERV. 81 (Aug, 2015) (co-author). 

Coufromiug Sy.rtemir Ri.rk: Eulumcctl Sumdards for Foreigu Bouks. 25 Bus. I... TOilAY (May 2015) (co-author). 

Globttl Bonks Fu1:e 1/igherCapilttl Requirements iu FSB "T/..AC" Propo.wl, 132 BANKING LJ. 186 (Apr. 2015} 

(co-author\. 

Regulomrs Coufnmt Weokeuing l.entliug Stcmdtzrds, 131llANKING L.J. 767 (Oct. 2014) (co-author). 

l'rimte Equity Fmu/s and tire Vo/ckcr Rule, 47 Rtv. S~CURITIES & COMMODITIES REG. 171 (July 2014)(co· 

author). 

Fon:word 10 'fllf.ARTOI' BANK M&A by Alexandm R. Lajoux & Ocnnis J. Roberts (M~-Graw-~lill 2014). 

• In OOditiOI>Io lit< n>:llrnals cil<..S above. II"'" bc<n lille<l os a 00111;11.1 txmn (alllong oll~<tS) on""""' L1w finn piAJiicatiMS during 

the L'L"' st\'l"ll )'~If'S. 
78 


51617036.eps

1/ecognizing the lnslilutiona/ Benefits of Dodd-Frank Resolution Planning, B,INKING & FIN. SERV. POL 'y Ra•. 

(Apr. 2013}(C()-3Uthor) 

Tlte 001/d-Frank Acl- Tll'o Years Later, 66 CONSUMr:R I'IN. L. Q. REP. 3 (De-c. 2012/Jan. 2013). 

Beller Ltue nwn Net-er? FSB Repom Regulatory Reform Is Atl••ancing. But Slowly, 66 CONSUMI!R FIN. I. Q. 

R1:r. 34 (Dec. 2012/Jan. 2013) (co-author). 

Resol•·e To Make II Beller: Lessons l.eame(/ in the Resolmion Planning Proctoss, TilE RMA JOURNAl. 

Oct I, 2012 (co-aulhor). 

FSB Repoi'IS Regulatory Refonn Is Ath'llt!Cing. Bill Slowly, TilE liAR VAllO LA IV SCIIOOL FORUM ON CORI'ORATE 

GOVERNAt{(EAND NA~'CIAl REGULATION, July 20, 2012 (co-aulhor). 

Resolution Plomting: Lessons /.ewned, BANK DIRECTOI\, July 6, 2012 (co-aulhor). 

"Living Wills .. Present all Opportullityfor Banks, AMERICAN BAtiKF.R, July 3, 2012 (co-aUihor), 

A SIFI in Three tasy Steps? FSOC Appro1'1!s Final Rule for Nonbank S/FI Di.'Signotions, 129 13MIKING LJ. 419 

(May 2012) (co-aulhor). 

Nm•igoting Dodd-Frtmk's Resollllion Plan Requirement, N.Y.L.J., DI.'C. 5, 2011 (co-auth ~ 

Tm )'our 1/eso/mion: LMng ll'ill.r in an Era of Regulatory Ut!Cerlllillly, 128 BANKING lJ. 916 

(NovJDcc. 2011)(co-author). 

D{)(/(1-Frank, One Year Later; A Primer on the Fetlcf/11 {Memakitlg Pr~Kess, Till: MliTI\OI'OLITi\N 

CORI'ORATE COUNSEl. Aug. 2011, at30 (co-author). 

Basel /II: All Owm·iew, BANKING& FIN. SERV. Poi..'Y REI•. I (May2011 ) '0-aut or). 

n1e Volcker Rule and the Fulllre of Pri1•01e £quiry, REV. BANKING & fiN. SERV. 43 (May 2011) (co-aut ~ 

0{)(/(f.fronk:r £nforccntelll am/ Litigation Pro1•isions, ABA IN·HOUSELO'It>ATOR, Winter 2011 (co-muhor). 

Bonk M&A in the Wake ofJ)Qdd.frrmk. 127 BANK I riG L.J. 909 (NOI'Ji)cc. 2010) (co-a ~ 

Hedge Fmulr: Spotlight, BLOOMBERG BRIEF. Nov. 12. 2010 (co-aulhor). 

0{)(/(f.frank & Seclll'ilization: The /Josie.! l'ou Nmllo Know. ABS EAsT DAilY. Oct 4. 20 I 0 

(co-author). 

Bonk Detl/hs Gil'l? Rise 10 "Lil'ing 11'11/s." TIIOMPSON ~1JTF.Rs: WALL STREJ:r LAWYER. Oct 2010. 

The 001/d-Frank ;let 01111 Crl'tlit Derimlit-es: 11 Markel Trml.lformed,llLOO.\lllERG LAw RI:I'ORTS: 

COMMO >m~:s& 0F.RIVATIVES-SWAI'SAND0VER·TIIE·COUN1'ER DERIVATIVf:S. Scpl. 7. 2010 

(co- author). 

Tile Dodd-Frank Act: The UK Perspectil'l?, PRACTICAL LA IV COMPM>IY: FINANCF. Sept 2, 2010 (co-author). 
79 


51617037.eps

The I' agades oftlw Vo/cker Rule: The Rule Raisr!S Far More QMstions thou// A1~mm. llrr'L FIN. L REV. 38 

(Scpl. 2010). 

The l'miclem Signs /,mll/m(Jrk Fitumdal Reform Bill, limMETKOI'OUTANCORI'ORATE 

Cou:-rsm., Aug. 2010, at 16. 

The Globe/ Fiuaucia/ Crisis: A Piau for R£-gulotory Reform, COMMITIEEON C AI'ITAL MARUI'S 

REGULATION, Mny 26, 2009 (contributor). 

AMger BrettkUJl Fees: A Critical Clwlleuge to Auglo-America11 Corporole 1-rm·. 34 LA IV & POL'Y lm-'L Bus. 

627 (2003). 

Rerlliuking Capilli/ Adeqllar,J•: nte Bo.sle Accord all(/ the Ntoo• Fromeorork, 56 llus. LAw. 767 

(2001). 

Are llllematiOIWI Capital Ad£.'/JUIIC)' Rules Adt'qUI/te? n.e Basle Accord lind Beyoml. 

148 U. PA. L. RF.v. I 771 (2000)(comn~nl). 

Political 

Affiliations 

and activities: List memberships and offices held in and services rendered to all political parties or 

election committees during the last I 0 years. 

Volunteer. Oonnld J. Tnunp Presidential TrJilSilion Tt'Oim (2016-2017) 

• Landing Tt'Oim for the Federal Deposit Insurance Corporntion (FDIC) 

• Landing Team lor the Office of the Comptroller orthc Currency (OCC) 

Volunteer, Jcb 2016. 11~. (2015-2016) 

• Finn ~ial Services Policy Team 

• Volunt•'Cl' fundrniser 

Volunteer, Mitch McConnell for Senate (2014) 

• Field Attorncy.llullitt County, KY (Novcmbcr2014) 

l'olitical 

Contributions: llemize all political contributions of$500 or more to any divi ua~ campaign 

organi7.ation, political party, political action committee or similar entity during the last 

eight years and identify specific amounts, dates, and names of rceipients. 

AMOUNT DATE RECIPIENT 

52500 12/01/2016 DonaldJ. Trumo (Rl (Trumn for Ameriell. lncJ 

SIOOO Oln7/2016 John D. Adams (R) (John Adams lor Vi~inial 

$270(1 06/2512015 John E. Bush IR)(JEB 20 I 6, Inc.) 

S500 07/2812014 Elise M. Stcf:mik (Rl(Eiise forCon~n:ss) 

SJOOO 03126/2014 Edward W. Gillesnic (R) lEd Gillesnic for Scnatcl 

SIOOO 03/24/2014 Thomas B. COlton (RliCotton for Senate) 

S500 02/07/2012 Will:ml M. Ron ~y (R) (Romney for President, Inc.) 
80 


51617038.eps

Qunlificnlions: State fully your qualifications to serve in the position to which you have been named. 

(attach sheet) 

Please refer to Annex A: ''Assistant Secreta!)' of the Trcasul)' for lntcmational Markets and Development." 

Future employment 

rtlationships: I. lndkate wl1ethcr you will sever all connections with your pn.'Scnt employer, business 

firm, association or organization if you arc confinned by the Senate. 

If confirmed by the Senate, I will sewr all connections with my present employer, Allen & Overy LLP. Please 

sec my completed Fonn 278 for further details. 

2. As far as can be fo~n. state whether you have any plans aficr completing 

government service to resume employment, affiliation or practice with your previous 

employer, business firm, association or organization. 

As r.,r as ~n be foreseen, I have no plans to return to Allen & Overy llf> afler completing my government 

senritc. 

3. Has anybody made you a commitment to a job after you leave government? 

No. 

4. Do you expect to serve the fulltenn for which you have been appointed'/ 

Yes. 

10 
81 


51617039.eps

Potential conflicts 

orintcrest: I. Describe any financial arrangemcniS or dcfcm:d compensation agreements or h~ 

continuing dealings with business associates, clients or customers who will be 

affected by policies which you will influence in the po6ition to which you have been 

nominated. 

To my knowledge, I do not have any finaneial armngcmcniS or dclcm:d compensation agreements or other 

continuing dealings witlt business associato:s. clients, or customers who will be aJlected by policies tltatl will 

innucncc ifl am con finned as Assistant Seercwyofthc Treasury for International Markets and Development. 

2. list any investments, obligations, liabilities, or other relationship5 which might involve 

potential conniCIS of interest 11ith the po6ition to which you have been nontinated. 

To my knowledge, I ha1'C no investments, obligations. liabilities, or other relationships 11 hich might involve 

polt1ttial conniciS ofinterest that are not address<'\! by my Ethics Agreement. 

3. Describe any business relationship, dealing or financial transaction (other than tax 

paying) which you have had during the last 10 )'C31S with the Federal Government, 

111tctltcr for yourself, on behalf of a client, or acting as an agcn~ that might in any 

way constitute or result in a possible conflict of interest with the po6ition to 111lich 

you have been nominated. 

During the last 10 )~':Irs, I have neither appeared nor represented a client before the Offioo of lntcmational 

Aff:tirs of the DcJXITI111Cnt or the Treasury. Furthcnnore, lam notall'ru'C ofnny bllSincss relationshiJ>, dealing. or 

financialtransactionth:llmight in any way constitute or result in a possible CIMlflict of interest with the po6ition 

or Assistant Secretary of th~ Treasury for lntenmtional MarkciS and Development 

4. List any lobbying activity during the past ten years in which you have engaged in for the 

purpose of directly or indirectly influencing the passage, defeat or modification of 

any legislation at the national level of govcmment or affecting the administration and 

execution of national law or public policy. 

My day-to-day l)rJCtice ol'law has involwd occasional intcrnctions with lcgislatii'C staffs and executive branch 

officials, but I have ncv<.-r taken on a lobbying rcpn.'Sl,ttation or engaged in activities that would ri.Xfuire me to 

register as a lobbyist 

5. Explain how you will resolve any conflict of interest tl111t may be disclosed by your 

responses to ihe items above. 

As noted above, I do not believe there arc any potential conflicts of interest that are not ;~ddrcsscd by my Ethics 

Agreement Should a potential conflict arise, I will consult with my Designated Agency Ethics Onicial and 

01111.-r ethics staff within the Onicc or the G•11crnl Counsel of the Depal1mcnt of the Treasury and take 

appropriate action. 

11 
82 


51617040.eps

Civil, criminal and 

investigatory 

actions: 

Not applicable. 

Not applicable. 

I. Give the full details of any civil or criminal proceeding in which you were a defendant 

or any inquiry or investigation by a Federal, State, or local agency in which you were 

the subject of the inquiry or investigation. 

2. Give the full details of any proceeding, inquiry or investigation by any professioMI 

association including any bar association in which you were the subject of the 

proceeding, inquiry or investigation. 

12 
83 


51617041.eps

Ass.istant Secretary of the Treasury for International Markets and Development 

Overview: This Assistant Secretary (AIS) position within the Treasury Department's Onice of International 

AITairs was created in 2007to address the growing need for a presidential appointee 111th a legal/regulatory 

background to over.;ec (I) the CFIUS prooess and (2) the international financial regulatory agenda established 

by the G-20 and the Financial Stability Board. 11tis NS also negotiates the financial services provisions of 

trade agreements and oversees U.S. policies regarding the developmC11l banks. A qualfied nominee would 

ideally have tlti: following substantive, skills-based, and technical background: 

• Fiuat~eiol R~gulotory E.rperti.re. TheA/Sis responsible for coordination and fonnulation of U.S. positions 

on major regulatory issues developed by the Financial Stability Board and agreed to by the G-20 leaders. 

o I hal'e spent much ol' the last dcc-dde worting in the field of intcn1;1tional financial regulation. I serve as 

outside Legal Advisor to the S)~temic Risk Council. as Chair of the American Bar Association's 

SubcommitK'I! on Systemically Important Financial Institutions, and as a Senior Fellow at the !iar\'ard 

Law School Program on International Financial Systems. During the Dodd-Frank legislative process. I 

served on the staff of the Senate Banking Commiuoc where I focused on banking and financial stability 

regulation. I also focused my doctoral studies at the University ofPenns)ivania on the Basel Commiu~-c 

on Banking SurJCrvision and intcn1;1tional financialn.'gulatory standards. 

• /utelligence & Legal Allolysis/Security CleorotiC£. The AIS Ol'crsees the CFIUS adjudication process, 

which involves the investigation and analysis of whether a prospective foreign investment in the United 

States presents national security risks or otherwise runs afoul of relevant CFIUS regulations. 

o I have intcrntittcntly held a Top Secret-level clearance since interning for the FBI in 1997. I have 

worked on matters involving tJ;~tionalS('Curity issues in several of my positions in the Federal 

Govcnuucnt. Earlk-r in my career I clerked for the U.S. Court of Appeals for the D.C. Cirtt~it. 1111ich has 

exercised ar~JCIIate jurisdiction over aspects oft he CFIUS proa:ss. Since then, I hal'e a developed 

considerable expertise in the intl'f(lretation and C1tfort'l!ment of federal regulations. 

• Experieuce ;, Drojlillg/Negotialillg Agreeme111s. The AIS is charged with negotiating those portions of 

trade agrocments involving fill;lncial services issues (bankinglsecuritics/assct management) and coordinating 

with the USTR on insurance issues and other relevant fields. l11i: AIS also represents tll( United States in 

the Paris Club debt negotiations with borrower countries. 

o As a dual-qualified US-UK lnwycr,l have experience in negotiating and drafting agrocmcnts with 

domestic and foreign panics under American and foreign legal regimes, including debtn.'Structurings. 

• llllemotiollol £cOIIOmics!Relatiolls. The A/S should have some knowledge of international relations, 

finance, trade, and development issues and be able to represent the Department and the United States before 

the muhinational organizations and foreigJI govemmC1tts. 

o Since 2010,1 have pr.tctit:cd law in the field ofintcrll;ltional banking law and n.,-gulation and advised 

more tl~m 200 private and pt1blic S('Ctor institutions in the Americas, Europe, the Middle Eas~ and the 

Asia-Pocific region. During this time, I visited 16 countries to dclivcr lectures and presentations on U.S. 

fi111ncial regulation to clients, industry groups. professional a.ISociations, and uniwrsities. I have bocn 

active in the Council on Foreign Relations, The 13rctton Woods Commiuec, and other organiz;~t ons 

focused on international relations and economics. I also hold the Chancrcd Financial Analyst (CFA) 

d<-signation. which n:quircd intcnsil'e study in finance and economics. 

13 
84 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR CORKER 

FROM SIGAL P. MANDELKER 

Q.1. Do you believe the current anti-money laundering regime is as 

effective as it could be? If not, would you be open to a realignment 

of incentives and the setting of priorities within the regime? Additionally, are there certain areas that you feel are ripe for reform? 

A.1. I believe that the current U.S. anti-money laundering and 

countering the financing of terrorism (AML/CFT) regime is strong. 

The United States has been a leader in the world, including 

through the Financial Action Task Force (FATF), in combatting 

money laundering and terrorist financing. We have to constantly 

evaluate, however, how to evolve these tools to meet new challenges, technologies, and threats. 

If confirmed, one of my top priorities will be to assess the effectiveness of our tools and to engage in comprehensive discussions 

within Treasury and with other stakeholders, including the law enforcement community, other regulators, the Congress, and the private sector, regarding mechanisms to improve these safeguards in 

the U.S. financial system, to further enhance transparency, and to 

assess Treasury’s analytic and information sharing tools both within the Government and with the private sector. I believe that 

Treasury should be open to realigning incentives and setting priorities as threats evolve, and as our law enforcement, regulatory, foreign policy, and national security priorities shift to meet new and 

emerging challenges. If confirmed, I will carefully assess what 

areas are ripe for reform after engaging in these discussions and 

will look forward to addressing them with you. 

Q.2. Financial institutions are withdrawing from customer relationships and businesses that are perceived to pose risks under the 

anti-money laundering laws. Do you think this so-called ‘‘de-risking’’ by financial institutions undermines the effectiveness of our 

anti-money laundering regime? If so, has past enforcement policy, 

or other aspects of the current legal framework, created incentives 

to ‘‘de-risk’’? Are there additional safe harbors or other changes to 

the legal framework that might better align financial institutions’ 

incentives in order to avoid that pressure to ‘‘de-risk’’? 

A.2.In this area, we must advance two complementary objectives: 

safeguarding the financial system from abuse and promoting financial inclusion where appropriate. We should continue to engage in 

a robust conversation with financial institutions about mechanisms 

for de-risking that simultaneously promote both objectives. If confirmed, I will look forward to discussing these issues with public 

and private sector stakeholders in order to maintain an effective 

AML/CFT framework, ensure that the risk-based approach is appropriately applied, promote innovation where appropriate in the 

private sector’s use of new tools to analyze data, and facilitate a 

clear understanding of both illicit finance risks and U.S. legal and 

regulatory expectations. 

For example, I believe that it is important to consider how to 

share more targeted information and provide dynamic feedback to 

the private sector in order to enhance its ability to engage in decision making as it manages risk. Likewise, I believe that financial 

85 

institutions should continually assess how to improve their analytic 

capabilities as part of the risk calculus that they undertake. 

Q.3. Do you see opportunities to facilitate or otherwise encourage 

financial institutions to voluntarily engage in information sharing 

under the PATRIOT Act? In particular, could new regulatory guidance or even legislative changes address some of the ambiguities 

under the relevant provisions of the PATRIOT Act or otherwise encourage financial institutions to expand their voluntary information 

sharing? 

A.3. Yes, there are opportunities to facilitate greater sharing of information under the USA PATRIOT Act. I am encouraged that 

some financial institutions have begun to utilize the informationsharing safe harbor provided by the USA PATRIOT Act. However, 

I believe that much more can be accomplished in this area. If confirmed, I will consult with the career professionals at Treasury and 

with the private sector regarding to what degree we need greater 

regulatory guidance or, if warranted, legislative changes both to 

address any ambiguities and to facilitate information sharing, 

while being mindful of the need to balance such sharing with data 

privacy equities and civil liberties. I look forward to consulting 

with Congress on these issues. 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR TOOMEY 

FROM SIGAL P. MANDELKER 

Q.1. Iran and other State sponsors of terrorism have been caught 

laundering billions of dollars through the U.S. financial system 

with the aid of foreign financial institutions. Though the money 

laundering techniques vary, their goal is the same—to exploit sanctions law for their own benefit. In particular, I worry that Iran and 

foreign financial service providers may have attempted to use creative book-entry accounting to violate both the spirit and the clear 

meaning of Iran sanctions. 

Generally speaking, is the processing of a transaction involving 

an Iranian person through the United States permitted under current sanctions? 

A.1. I share your concern regarding Iranian and foreign financial 

service provider attempts to use creative book-entry accounting to 

violate both the spirit and the clear meaning of Iran sanctions. 

Generally speaking, transactions involving Iran or Iranian persons 

are prohibited through or to the United States, unless the transaction is exempt or authorized by OFAC. 

Q.2. Assuming a transaction is otherwise prohibited, would any 

book-entry system allow a foreign financial firm to move Iranian 

funds to, though, or within the United States? 

A.2. As stated above, transactions involving Iran or Iranian persons are prohibited through or to the United States, unless the 

transaction is exempt or authorized by OFAC. If confirmed, I am 

committed to working to ensure that sanctions enforcement investigations examine fully the facts and circumstances surrounding 

any book-entry or book-transfer system in light of the applicable 

regulations concerning Iran. I will also carefully review this issue 

and commit to working with your office on this important question. 

86 

Q.3. Would you be willing to work together with my office and the 

Committee to ensure sanctions State sponsors of terror can no 

longer use those ‘‘book entry’’ transactions to evade sanctions? 

A.3. If confirmed, I am committed to taking strong action against 

attempts to circumvent or evade U.S. sanctions laws—particularly 

with respect to transactions processed to, through, or within the 

United States and look forward to working with your office and the 

Committee on this important issue. Sanctions against Iran, as in 

all programs, should be implemented and enforced in a way that 

ensures that there are no loopholes that would allow prohibited 

transactions. 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR SASSE 

FROM SIGAL P. MANDELKER 

Q.1. Does Treasury have the necessary resources and capabilities 

to conduct a North Korean leadership asset hunt, as the North Koreans are adept at developing shell companies and other methods 

of hiding money? 

A.1. I believe that it is vital that Treasury, along with its interagency and international partners, pursue all options to target the 

many ways in which North Korea hides its money. As I am not in 

the Administration, I have not had the opportunity to review 

whether Treasury has the necessary resources and capabilities to 

do so. If confirmed, I will carefully review this issue. As mentioned 

in my testimony, the North Korea threat will be one of my top priorities. 

Q.2. What, if any, are your ideas for innovation in our sanctions 

capabilities? Is there anything we’re not doing that may be helpful? 

For example, are there financial analytical tools or practices from 

the private sector that should be adopted by the public sector? 

A.2. I understand that Treasury has a track record of innovation 

in its use of sanctions as a tool to address foreign policy and national security threats. If confirmed, I will work with Secretary 

Mnuchin and other senior leaders in our Government to ensure 

that we are on the cutting edge of information analysis in support 

of our sanctions efforts and capabilities. Having spent the last 8 

years in the private sector, I know that there are tremendous analytical tools available within the private sector. If confirmed, I will 

look forward to assessing Treasury’s tools and to improving upon 

them, including by consulting with the private sector as appropriate. 

Q.3. How does the use of sanctions fit within a greater strategy? 

For example, do sanctions have to come after diplomatic efforts, or 

does it sometimes make sense to have them work in parallel with 

diplomatic efforts? 

A.3. Sanctions are an important component of the broader national 

security and foreign policy toolkit available to the U.S. Government 

and can be designed to achieve a number of objectives. They can, 

for example, be effectively deployed to disrupt the financial and 

commercial activities of illicit actors, such as ISIS and Al Qa’eda, 

and thus weaken and degrade our adversaries by undermining 

their financial infrastructure. When used against a Nation-State 

87 

adversary, sanctions can provide the leverage necessary to reach a 

diplomatic solution. Whether sanctions are deployed before, after, 

or in parallel with diplomatic or other efforts, however, depends on 

the circumstances. Every region, entity, individual, and problem 

presents unique challenges, and we need to make sure that we 

carefully tailor and deploy our tools to address those specific challenges. 

Q.4. Do you have any recommendations for developing sanctions 

draw-down if a country alters its behavior in response to sanctions? 

How feasible are ‘‘snap back’’ sanctions? 

A.4. Sanctions are not ends in themselves, but rather tools within 

our foreign policy and national security apparatus that are intended to create clear incentives to change behavior. When there 

is evidence that sanctions have achieved their intended objectives, 

the Administration may consider easing or lifting them. Typically, 

when drawing down sanctions or providing relief, the U.S. Government relies upon the authority granted to it under the International Emergency Economic Powers Act (IEEPA), including licensing authority and mechanisms specified in relevant sanctions 

laws, which often include waivers to provide tailored sanctions relief appropriate to a developing situation. 

Flexibility in the executive branch’s authority to administer sanctions programs is critical, as it is often impossible to predict future 

developments that may require corrective action with respect to 

any draw-down efforts. When implementing a sanctions regime, we 

should consider how we would strategically unwind particular 

sanctions if we achieve our objectives while at the same time 

tactically use the possibility of unwinding as continued leverage. 

The effective use of unwinding tools can force actors to make decisions on a continual basis that furthers our strategic interests. 

While it is important to be able to unwind sanctions, we should be 

very careful and generally resistant to lifting sanctions when there 

is no behavioral change. 

Similarly, with respect to ‘‘snap back’’ sanctions, we should have 

a comprehensive plan in place regarding the re-imposition of sanctions, including precise mechanisms and clear commitments and resolve from our partners where the sanctions are multilateral. The 

degree to which ‘‘snap back’’ sanctions are feasible will depend on 

how effective we are in persuading other countries and how committed they are to triggering ‘‘snap back’’ sanctions where the evidence supports it. 

Q.5. When might secondary sanctions be appropriate? 

A.5. We face grave national security risks, and secondary sanctions 

can be a powerful and very effective tool to address those risks. If 

confirmed, I will work closely within Treasury and with our partners across the U.S. Government, including Congress, to evaluate 

when secondary sanctions should be deployed to combat critical national security challenges. Such sanctions must be considered as 

part of a comprehensive strategy to curb any particular national security risk that includes a careful assessment of the benefits and 

risks of deploying this tool. 

88 

Q.6. What might be upcoming challenges related to bitcoin or other 

cryptocurrency, and will you develop a plan to address those challenges? 

A.6. The emergence of a new generation of virtual currencies designed to provide complete transactional anonymity and the lack of 

global regulation and supervision in the virtual currency space presents complex challenges to our efforts to curb money laundering 

and terrorist financing. If confirmed, I will carefully examine these 

issues within Treasury, within the interagency, and with the private sector, including outside experts. We need to be rigorous in 

our understanding of the underlying technologies, assessment of 

our regulatory authorities and the degree to which modifications 

are necessary to promote transparency and protect the U.S. financial system from abuse, enforcement against noncompliant actors, 

and engagement with other countries. 

Q.7. Does Treasury have the capabilities to track or fight against 

ransomware that uses cryptocurrency, and if not, will you commit 

to push for the development of said capabilities? 

A.7. I understand that Treasury leverages its cyberexpertise to 

play an active role in determining how to protect our critical infrastructure from illicit cyberactivity, including ransomware as well as 

other business email compromises; deter those that engage in such 

activity; and use available financial data to track transactions and 

recover funds involved in illicit cyberactivity. If confirmed, I expect 

to gain a more detailed understanding of Treasury’s existing capabilities in this space. I will support these efforts at Treasury and 

will promote strengthening capabilities where needed 

Q.8. What challenge does block chain pose to future sanctions, and 

does Treasury have the capabilities to meet those challenges? 

A.8. It is my understanding that block-chain technology itself may 

not inherently be a threat to the effectiveness of sanctions or alter 

or reduce Treasury’s enforcement jurisdiction, as block-chain technology is merely a distributed database system that creates and 

updates a secure transactional ledger. Nonetheless, there are always actors who seek to exploit technology for illicit gain. I am 

committed to addressing the threat posed by malign actors who, 

among other things, use services that seek to anonymize their presence, including through the use of block-chain based virtual currency payments. If confirmed, I will work to ensure that Treasury 

continues to develop expertise internally and fosters dialogue with 

both private industry and financial industry regulatory agencies regarding block-chain technology and its use in the financial sector. 

RESPONSES TO WRITTEN QUESTIONS OF 

SENATOR MENENDEZ FROM SIGAL P. MANDELKER 

Q.1. In January 2016, the U.S. Patent and Trademark Office granted a license to allow Cubaexport to renew an expired trademark 

registration for Havana Club rum. Cubaexport is an entity wholly 

owned by the Cuban Government, and this decision reverses a 

longstanding policy that had denied Havana Club rights to Bacardi 

LLC in the United States. Despite repeated inquiries, the Office of 

Foreign Assets Control has yet to provide a satisfactory and legally 

89 

sound answer for this decision which in effect rewards the Castro 

Government that continues to oppress its people and deny them 

basic human rights. 

Previously, when making licensing decisions, OFAC has relied 

upon Section 211, which determines ‘‘whether the applicant has obtained the consent of the original owner of the stolen mark or the 

latter’s bona fide successor-in-interest to register or renew that 

mark.’’ Since Havana Club was illegally confiscated from the Jose 

Arechabala Company (JASA), this decision to award the trademark 

to Cuba raises serious concerns about intellectual property policy 

implications. 

If confirmed, are you planning to uphold OFAC’s decision to 

award the trademark to the Cuban Government? Or will you commit to reviewing and clarifying why OFAC departed from precedent 

and declined to apply Section 211? 

A.1. I am not privy to the details regarding OFAC’s decision with 

respect to the Havana Club trademark, and it would not be appropriate for me to comment on any specific decision at this time. If 

confirmed, I will review any such decision in light of the applicable 

law. 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR WARREN 

FROM SIGAL P. MANDELKER 

Q.1. Russia—Do you believe that we should increase sanctions on 

Russia for its malicious cyberactivities, intervention in Ukraine, 

and/or support for Assad in Syria? Please explain why or why not. 

A.1. I share your concerns regarding Russia’s cyberactivities, intervention in Ukraine, and support for Assad. Sanctions are an important part of the United States’ tools to address these pressing national security issues. If confirmed, I will carefully assess the ways 

in which Treasury’s tools can be most effectively deployed and will 

present those options within the interagency so that they can be 

considered as part of the Administration’s overall strategy to address these threats. 

Q.2. Would you oppose legislation that requires Congressional review before any rollback of our existing Russia sanctions? 

A.2. As the Administration has made clear, U.S. sanctions against 

Russia will remain until Russia reverses the actions that triggered 

those sanctions. If confirmed, I look forward to working within the 

Administration and with Congress to identify the best way to hold 

Russia accountable for its actions and encourage it to live up to its 

commitments. While it would not be appropriate for me to comment on any particular piece of legislation at this time, if confirmed, I would look forward to working with Congress regarding 

this important issue. 

Q.3. ISIS (Islamic State in Iraq and Syria)—Is there anything you 

would do differently than what Treasury is already doing to shut 

off ISIS from the international financial system and from other financial networks like money remittance channels and currency 

auctions? 

A.3. As I mentioned during my testimony, if confirmed, I will focus 

immediately on the areas that pose the greatest threats, including 

90 

ISIS. Disrupting ISIS’s financial underpinnings has to be a top priority. If confirmed, I will conduct an expeditious review of the intelligence and of Treasury’s actions thus far to cut off ISIS from the 

international financial system and other financial networks and determine how to change, modify, and/or supplement those efforts. 

For example, among other things, I will examine whether there are 

additional individuals or entities that should be designated and 

sanctioned, what related enforcement actions are underway, and 

what more we can initiate as part of the effort to seize ISIS’s financial support and deter further financing, whether our intelligence 

collection and analytical efforts are sufficient or should be enhanced to produce actionable intelligence to address ISIS’s evolving 

financial campaign, and how we can most effectively work with the 

Justice Department, the State Department, and the Defense Department, among others, to coordinate our efforts and most effectively utilize our respective authorities. I will also ensure that 

Treasury continues to proactively share and analyze information 

with coalition partners through the Counter-ISIS Finance Group, 

the Egmont Group of Financial Intelligence Units and through 

other appropriate channels, including the private sector as appropriate. I understand that Treasury has served as a leader in this 

effort and I believe that it should continue to do so and strengthen 

those relationships. 

Q.4. Does Treasury need additional authority from Congress to 

counter ISIS’s finances? 

A.4. If confirmed, I will undertake an expeditious and thorough review of Treasury’s actions and authorities to counter ISIS’ finances, 

and I look forward to working with Congress on this important national security issue. 

Q.5. Iran—At this time, are you aware of another realistic method, 

aside from enforcing and complying with the 2015 nuclear agreement [Joint Comprehensive Plan of Action (JCPOA)], to limit Iran’s 

nuclear program and subject it to rigorous monitoring and inspections? 

A.5. Curtailing Iran’s nuclear program and permanently prevent 

the regime from developing nuclear weapons is paramount to our 

national security interests. I understand that the Administration is 

currently undertaking a comprehensive review of the United 

States’ Iran policy, including with respect to the JCPOA. If confirmed, I would look forward to participating in that review and 

working with the Administration and Congress to ensure that a 

comprehensive strategy is implemented that protects the American 

people and our allies overseas. 

Q.6. As far as you know, are there any deficiencies in Treasury’s 

currently available tools to counter Iran for its non-nuclear activities (ballistic missile development, human rights abuses, support 

for terrorism, etc.)? 

A.6. Treasury already has substantial authorities available to it to 

counter Iran’s malign, non-nuclear activities, including many executive orders and statutes that provide Treasury with primary and 

secondary sanctions authorities and enforcement tools. If confirmed, I will work to ensure that the Treasury continues to aggresVerDate Nov 24 2008 14:28 Jun 26, 2017 Jkt 046629 PO 00000 Frm 00094 Fmt 6602 Sfmt 6602 L:\HEARINGS 2017\05-16 NOMINATIONS\HEARING\25925.TXT JASON
91 

sively target Iranian provocative activities in ballistic missile development, human rights abuses, and support for terrorism, among 

other areas, consistent with the Administration’s foreign policy priorities. I will carefully review whether there are additional tools 

that Treasury can deploy and, where needed to further target 

Iran’s malign activities, I will work with the Administration to put 

in place new authorities using powers granted under the International Emergency Economic Powers Act (IEEPA) or other statutory authorities. Congress has played a vital leadership role in addressing the Iranian threat, and I would look forward to working 

with this Committee and others should Treasury need additional 

authorities not available under existing statutes. I believe that we 

should vigorously enforce those authorities. 

Q.7. Iran is still on the Financial Action Task Force (FATF) blacklist of countries that are a high-risk of money laundering and terrorist financing. Last year Iran made commitments to FATF to 

make structural reforms in these areas. Will you work with FATF 

to pressure Iran to address its money laundering and terrorist financing problems? 

A.7. Yes. I believe that U.S. leadership with FATF on this critical 

issue is an important component of the U.S. Government’s efforts 

to address Iran’s ongoing illicit behavior, including its continued 

highly egregious money laundering and terrorist financing activities. 

Q.8. North Korea—China is North Korea’s outlet to the financial 

system. How do we exert pressure on China to get North Korea to 

freeze its nuclear and ballistic missile activities, without provoking 

a Chinese reaction that harms the U.S. economy? 

A.8. If confirmed, I will carefully and expeditiously study this 

issue, in consultation with other partners in the interagency. I understand from public reporting that exerting pressure on China to 

get North Korea to freeze its nuclear and ballistic missile activities 

is a critical part of the Administration’s strategy. If confirmed, addressing this issue and Treasury’s role in a comprehensive strategy 

will be one of my highest priorities. I will immediately request an 

intelligence briefing regarding the North Korea threat and an assessment of the tools that Treasury has already deployed and those 

that should carefully be considered. We should use all available 

tools directly against North Korea and carefully assess and implement ways to effectively persuade China to bring enormous economic pressure on North Korea. 

Q.9. State Department Budget—Former Acting Under Secretary for 

Terrorism and Financial Crimes, Adam Szubin, testified before a 

Banking subcommittee on May 10 about the need for sanctions to 

be part of a broader diplomatic strategy. Mr. Szubin said, in part: 

‘‘Massive diplomatic investment and multilateral engagement will 

be needed to marshal a successful effort, and it will require enlisting like-minded and resistant countries.’’ He went on to say ‘‘it 

would be counterproductive in the extreme to deplete our Foreign 

Service corps at a time when we need them so urgently.’’ President 

Trump’s budget blueprint proposes deep cuts to the State Department. Given that diplomacy helps build coalitions with other counVerDate Nov 24 2008 14:28 Jun 26, 2017 Jkt 046629 PO 00000 Frm 00095 Fmt 6602 Sfmt 6602 L:\HEARINGS 2017\05-16 NOMINATIONS\HEARING\25925.TXT JASON
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tries to enforce effective sanctions, would gutting the State Department make your job easier or harder? 

A.9. The State Department plays a vital role in the enforcement of 

our sanctions regime. I have not had the opportunity to review the 

State Department budget or assess what impact, if any, it will have 

on our diplomatic efforts to work with other countries to enforce 

sanctions. However, if confirmed, I look forward to working closely 

with the State Department and others to advance the national security and foreign policy priorities of the United States. Strong diplomatic engagement plays an essential role in making our sanctions as effective as possible. 

RESPONSES TO WRITTEN QUESTIONS OF 

SENATOR DONNELLY FROM SIGAL P. MANDELKER 

Q.1. North Korea Sanctions—Last week Senator Sasse and I held 

a subcommittee hearing on how to craft a stronger sanctions regime against North Korea. Our witnesses were both tremendous 

experts in this field—Juan Zarate and Adam Szubin, who previously held the position for which you have been nominated. There 

is a strong consensus that China is the linchpin to any meaningful 

increase in sanctions against North Korea. 

If confirmed, would you support imposing secondary sanctions 

against Chinese entities that support the North Korean regime, 

particularly those elements that oversee Kim Jong Un’s nuclear 

and ballistic missile programs? 

A.1. Addressing the threats that we face from North Korea will be 

one of my top priorities. Sanctions are an important component of 

the comprehensive strategy to pressure North Korea to curb this 

increasingly urgent threat and to lean on other countries, including 

most importantly China, to implement and enhance existing sanctions against North Korea. I understand from public reporting that 

the Administration has been engaged in a productive dialogue with 

China on this issue and I would actively participate in this interagency effort, if confirmed. 

I will also make sure that Treasury presents comprehensive options to the interagency discussion, not only with respect to sanctions but also the other tools available to the Office of Terrorism 

and Financial Intelligence, including those deployed by FinCEN, 

the Office of Terrorist Financing and Financial Crimes, and the Office of Intelligence and Analysis. Before committing to any particular recommendation, I will need to understand the status of the 

United States’ diplomatic and other efforts and how the secondary 

sanctions option fits within our comprehensive strategy. I will be 

extremely committed to making sure that Treasury actively uses 

its tools not only to pressure North Korea, but also to hold accountable those that facilitate the North Korean regime through illicit 

financing. If the Administration determines that secondary sanctions are appropriate, I will make sure that they are enforced vigorously. 

Q.2. What factors would weigh into your consideration of whether 

and how to approach secondary sanctions against Chinese firms? 

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How would you weigh potential impacts to the U.S. and global 

economies? 

A.2. The decision to impose secondary sanctions would involve not 

only the Treasury Department, but also other Departments within 

the interagency, including the State Department. There are a number of factors that should be considered in any such strategy, including the effectiveness of secondary sanctions to the broader goal 

of containing the Kim regime and its nuclear and ballistic missile 

programs; the additional leverage secondary sanctions would provide over and above the United States’ domestic authorities and 

U.N. Security Council sanctions regime; the bilateral relationship 

with China; and how such sanctions might impact the economy and 

our key allies in the region, such as South Korea and Japan. I 

would consult with other members of the interagency to ensure 

that the appropriate experts have analytically assessed the impact. 

Q.3. Russia Sanctions—The position for which you have been nominated also serves as a member of the intelligence community. 

As you prepare for this role, have you spoken with the White 

House about expanding sanctions against Russia? 

A.3. No. 

Q.4. Have you spoken with experts at the Treasury Department or 

elsewhere about expanding sanctions against Russia to assess options and seek advice? 

A.4. I have not spoken with experts at the Treasury Department 

about expanding sanctions against Russia in order to assess options and seek such advice. This subject has generally come up during my meetings with Members of the Senate Banking Committee 

and I have also reviewed testimony that has been presented to the 

Committee regarding this topic. 

RESPONSES TO WRITTEN QUESTIONS OF CHAIRMAN CRAPO 

FROM MIRA RADIELOVIC RICARDEL 

Q.1. The previous Administration launched the Export Control Reform Initiative in 2010 based on a concept of four singularities: 

merge the commodity control lists into a single list; adopt a common IT portal, create a single licensing agency and transfer most 

enforcement efforts to a single agency. The four singularity concepts were never achieved either because of a shortage of time or 

the lack of support to consider such a far-reaching bureaucratic restructuring. 

However, considerable progress was made with regard to the 

merger of the commodity control lists managed by the State and 

Commerce Departments. In fact, 18 of the 21 categories on State’s 

United States Munitions List (USML) were rationalized by migrating certain commercial and dual-use products from the USML to 

the Commerce Control List (CCL) maintained by the Department 

of Commerce. 

The three remaining USML categories, I–III, largely pertaining 

to commercial and sporting firearms and ammunition products, the 

least technically complex of all the categories, were never rationalized and left untouched. This no doubt impacts both small busiVerDate Nov 24 2008 14:28 Jun 26, 2017 Jkt 046629 PO 00000 Frm 00097 Fmt 6602 Sfmt 6602 L:\HEARINGS 2017\05-16 NOMINATIONS\HEARING\25925.TXT JASON
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nesses and the Government resources used for protecting U.S. national security interests. 

If confirmed, will you commit to having the Commerce Department complete the commodity control lists merger prong of the Export Control Reform Initiative and finalize the migration of Categories I, II, and III so that all 21 USML categories are appropriately merged? 

A.1. I am aware that 18 out of 21 United States Munitions List 

(USML) categories have been revised and corresponding controls 

established in the Commerce Control List (CCL). I also understand 

that work on regular review and revisions of those categories continue. If confirmed, I commit to working closely with Secretary 

Ross and the State Department on these reviews and taking the 

appropriate next steps to address the remaining three categories. 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR SASSE 

FROM MIRA RADIELOVIC RICARDEL 

Q.1. No U.S. exporter should undergo an unnecessarily duplicative 

licensing regime to sell their goods overseas; doing so unnecessarily 

increases costs and is ultimately passed down to Main Street. Accordingly, I’d like to ask about ongoing efforts to reform the export 

control process, particularly regarding the possible transfer to the 

Bureau of Industry Security of export licensing responsibility over 

Categories I–III of the U.S. Munitions List. 

Do you commit to pushing to complete a review of this possible 

as soon as possible? 

A.1. I am aware that 18 out of 21 United States Munitions List 

(USML) categories have been revised and corresponding controls 

established in the Commerce Control List (CCL). I also understand 

that work on regular review and revisions of those categories continue. If confirmed, I commit to working closely with Secretary 

Ross and the State Department on these reviews and taking the 

appropriate next steps to address the remaining three categories. 

Q.2. When do you expect this review to be completed? 

A.2. I also commit to working closely with you and your office and 

providing timely updates on this matter. 

Q.3. Will you commit to doing everything within your power to improve the efficiency of the export review process for Categories I– 

III, while still preventing unlawful possession of these weapons? 

A.3. I am committed to improving the efficiency of the export review process while maintaining strong national security and foreign policy objectives, if confirmed. 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR PERDUE 

FROM MIRA RADIELOVIC RICARDEL 

Q.1. Ms. Ricardel, the previous Administration implemented the 

Export Control Reform initiative in order to modernize our coldwar era export licensing controls. This reform was aimed at enhancing our national security and improving the global competitiveness of U.S. companies. A key objective in the Export Control 

Reform was to rationalize the control lists and pursuant to the auVerDate Nov 24 2008 14:28 Jun 26, 2017 Jkt 046629 PO 00000 Frm 00098 Fmt 6602 Sfmt 6602 L:\HEARINGS 2017\05-16 NOMINATIONS\HEARING\25925.TXT JASON
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thorities granted within the Arms Export Control Act, transfer export licensing authority for commercial and dual-use items from 

the State Department Directorate of Defense Trade Controls 

(DTCC) to the Commerce Department—Bureau of Industry Security (BIS). 

Under the prior Administration, commercial and dual use products covered in 18 of the 21 DTCC’s categories to the BIS. However, 3 of the 21 categories—USML categories I, II, and III (commercial and sporting firearms and ammunition products)—were 

purposely singled out by the past Administration for transparent 

political reasons and have not realized the benefits of the Export 

Control Reforms Initiative. 

Today, roughly 25 percent of the DDTC’s export licensing workload now involves Category I products like the single shot bolt action 22 caliber rifle used by many Boy Scouts. Many in Congress 

share these same concerns including the submission of bipartisan 

letters from Congress that were recently sent to Secretary Ross and 

Secretary Tillerson urging completion of the ECR initiative. 

Will you commit to working on the expeditious completion of the 

transfer of export licensing authority for commercial and dual-use 

items from the DTCC to the BIS? 

A.1. I am aware that 18 out of 21 United States Munitions List 

(USML) categories have been revised and corresponding controls 

established in the Commerce Control List (CCL) and understand 

that work on regular review and revisions of those categories continue. If confirmed, I commit to working closely with Secretary 

Ross and the State Department on these reviews and taking the 

appropriate next steps to address the remaining three categories. 

Q.2. Once you are in office, will you please provide me an updated 

estimate on the date by which Commerce Department will publish 

the proposed rule to transfer export licensing of commercial and 

sporting firearms and ammunition products currently on the USML 

categories I, II, and III to the Commerce Department from the 

State Department? 

A.2. I also commit to working closely with you and your office and 

providing timely updates on this matter, to include notification of 

planned publication of proposed rules, if confirmed. 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR WARREN 

FROM MIRA RADIELOVIC RICARDEL 

Q.1. Chinese firms and investors are increasingly trying to acquire 

U.S. companies, or companies with U.S. assets. Last December 

President Obama blocked a Chinese firm from acquiring a Germanbased semiconductor company with U.S. assets. Are you concerned 

about China’s increasing assertiveness in this area, and if so, what 

will you do about it? 

Some public reports have indicated that China may be attempting to circumvent CFIUS in order to gain access to defense or other 

critical technology by investing in early stage companies or otherwise obscuring the source of capital. Is this a concern, and if so, 

do you believe that changes to CFIUS are required? 

96 

A.1. I share your concerns regarding China’s publicly stated goal 

of becoming a global leader in the semiconductor and software technology space. I understand the Department of Commerce is currently updating its 2009 assessment of the U.S. semiconductor industry and the impact of competitors, such as China, on that industry. If confirmed, I commit to work closely with Secretary Ross on 

this important matter, as well as with the Department of the 

Treasury on China’s potential circumvention of CFIUS, as well as 

any potential legislative or regulatory changes to CFIUS. 

Q.2. In your prepared testimony, you observed that ‘‘the health of 

the U.S. defense industrial base is imperative[.]’’ Please explain in 

detail how will you advocate for U.S. workers, companies, and technologies that support the U.S. defense industrial base. 

A.2. I am committed to working within the Department of Commerce and within the U.S. Government interagency on measures 

that can strengthen the U.S. defense industrial base, if confirmed. 

The Bureau of Industry and Security protects critical U.S. technologies that are a vital part of the U.S. defense industrial base 

through both its export licensing and export enforcement processes. 

If confirmed, I will ensure that the Bureau’s licensing and enforcement efforts are effective, to include thorough assessments of enduse and end-users. Furthermore, I will reach out to industry and 

seek input on proposed rules, as well as ways in which these processes might be improved. In addition, the Bureau regularly conducts in-depth surveys of specific defense industrial capabilities. 

The information obtained through these surveys—such as identifying areas of concern in the supply chain—can be used to develop 

appropriate actions and policy recommendations. 

RESPONSES TO WRITTEN QUESTIONS OF 

SENATOR DONNELLY FROM MIRA RADIELOVIC RICARDEL 

Q.1. If confirmed, you will have an important role in protecting the 

U.S. defense industrial base. Earlier this month, you and I discussed the fact that current law explicitly prohibits the transfer of 

excess military equipment to foreign countries if doing so would 

harm U.S. industry and jobs. I’m talking about section 2321j of 

Title 22. I remain concerned that the Pentagon and the State Department are attempting to circumvent this law and risking critical 

U.S. manufacturing capabilities in the process. 

If confirmed, will you work with Secretary Ross to enforce the 

law and ensure these transfers don’t harm American workers? 

A.1. If confirmed, I commit to working closely with Secretary Ross 

on the important issue of protecting the U.S. defense industrial 

base and will do so in accordance with section 2321j of Title 22. 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR SASSE 

FROM MARSHALL BILLINGSLEA 

Q.1. Does Treasury have the necessary resources and capabilities 

to conduct a North Korean leadership asset hunt, as the North Koreans are adept at developing shell companies and other methods 

of hiding money? 

97 

A.1. If confirmed, I look forward to working with Congress to ensure that Treasury has the appropriate resources and capabilities 

to carry out the Administration’s policy of pressuring North Korea 

to denuclearize, cease its ballistic missile testing, and end its proliferation of deadly technology. 

Q.2. What, if any, are your ideas for innovation in our sanctions 

capabilities? Is there anything we’re not doing that may be helpful? 

For example, are there financial analytical tools or practices from 

the private sector that should be adopted by the public sector? 

A.2. As a Managing Director at Deloitte leading our Business Intelligence Services practice, I work with a wide range of analytic 

tools, data sets, and have developed tactics, techniques, and procedures which have repeatedly proven themselves in investigation of 

front and shell companies on behalf of the Federal Government, as 

well as private sector clients. If confirmed, I intend to take a close, 

careful look at current Treasury capabilities to ensure that we benefit from the best that the private sector has to offer. 

Q.3. How does the use of sanctions fit within a greater strategy? 

For example, do sanctions have to come after diplomatic efforts, or 

does it sometimes make sense to have them work in parallel with 

diplomatic efforts? 

A.3. While each case is unique, I believe that sanctions generally 

should be part of a broader national strategy to advance our interests. Of course, there may be situations where sanctions may precede, or set the stage for, diplomatic efforts. Moreover, sanctions 

also can be an important offensive tool to degrade and disrupt illicit criminal and terrorist networks. If confirmed, I will look forward to working with our partners across the Government, including our Congress, to deploy these tools effectively in support of our 

national interests. 

Q.4. Do you have any recommendations for developing sanctions 

draw-down if a country alters its behavior in response to sanctions? 

How feasible are ‘‘snap back’’ sanctions? 

A.4. Generally, when winding down a sanctions program or providing relief, the U.S. Government utilizes the licensing authority 

under the International Emergency Economic Powers Act (IEEPA) 

or waivers in Congressional legislation to provide appropriately tailored sanctions relief. This flexibility in our authorities is critical, 

as it is exceptionally challenging to predict how future events may 

impact ongoing draw-down efforts. This flexibility also has the benefit of allowing us to quickly remove sanctions relief previously 

granted via license or waiver or to reimpose sanctions even if a 

particular sanctions program has been terminated. 

Q.5. When might secondary sanctions be appropriate? 

A.5. In the past, secondary sanctions have played a useful role as 

part of a broader strategy to increase pressure on illicit actors to 

change their threatening behavior, but may have consequences to 

financial relationships with the U.S. and access to the U.S. financial system. If confirmed, I will carefully evaluate whether secondary sanctions would be an effective and appropriate tool to combat critical national security challenges. 

98 

Q.6. What might be upcoming challenges related to bitcoin or other 

cryptocurrency, and will you develop a plan to address those challenges? 

A.6. Virtual currency payments potentially provide a more efficient, 

cheaper alternative to traditional payment methods by avoiding 

interchange and currency exchange fees, providing faster settlement, and reducing counterparty risk. At the same time, virtual 

currency payments present money laundering and terrorist financing risks that must be assessed and mitigated, especially with respect to anonymity, challenges in tracing virtual currency flows, 

and the lack of regulation and supervision in most jurisdictions 

worldwide. If confirmed, I will work to enhance the effectiveness of 

our regulatory and supervisory regime for virtual currency and to 

urge other countries to follow suit. This also is an area where I 

would look forward to working closely with the private sector. 

Q.7. Does Treasury have the capabilities to track or fight against 

ransomware that uses cryptocurrency, and if not, will you commit 

to push for the development of said capabilities? 

A.7. If confirmed, I look forward to understanding the capabilities 

already possessed by Treasury, and I will commit to pushing for 

the development of any additional capabilities needed. I understand that Treasury, as the U.S. Government’s lead agency charged 

with protecting the U.S. financial system, has a number of authorities designed to defend our critical infrastructure from abuse by 

cybercriminals. If confirmed, I expect to gain a more detailed understanding of these capabilities to combat the use of virtual currency payments for cybercrime, including ransomware attacks. I 

will also work across Treasury, the entire U.S. Government, and 

with international partners to enhance our ability to combat 

cybercrime, including ransomware. 

Q.8. What challenge does block chain pose to future sanctions, and 

does Treasury have the capabilities to meet those challenges? 

A.8. The new generation of cryptocurrencies and more sophisticated technologies appear to be able to provide anonymity in virtual currency transactions, and therefore may present a challenge 

to future sanctions implementation. If confirmed, I expect to gain 

a more detailed understanding of Treasury’s existing capabilities to 

combat the use of virtual currency payments, including in the sanctions context, and will support efforts to increase capacity to address this issue. I look forward to working with the interagency 

and the Intelligence Community on this challenge, and believe that 

we will benefit from private sector insight in this area as well. 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR WARREN 

FROM MARSHALL BILLINGSLEA 

Q.1. Russia—Do you believe that we should increase sanctions on 

Russia for its malicious cyberactivities, intervention in Ukraine, 

and/or support for Assad in Syria? Please explain why or why not. 

A.1. Countering Russia’s malicious cyberactivity, securing a diplomatic solution in Ukraine, and achieving peace and stability in 

Syria are some of the greatest challenges our Nation now faces. As 

we have seen, Treasury’s sanctions tools can play a critical role in 

99 

advancing our interests in these areas. If confirmed, I will work 

with the rest of the Administration and with Congress to identify 

how these tools can continue advancing our interests across a 

range of areas in which Russia is actively working against U.S. interests and serving as a destabilizing influence. 

Q.2. Would you oppose legislation that requires Congressional review before any rollback of our existing Russia sanctions? 

A.2. Our sanctions against Russia were imposed in large part to 

provide leverage to reach a diplomatic solution. As the Administration has made clear, we will roll back sanctions only when Russia 

fulfills its commitments under the Minsk agreements. To achieve 

this goal, it is essential that the Administration have the flexibility 

and credibility to use this leverage in a way that best supports 

both our own efforts and those of our allies. I look forward to working with the Congress, if confirmed, to identify the best way to do 

so with an eye towards preserving the diplomatic and negotiating 

space necessary to reach the outcome we seek. 

Q.3. ISIS (Islamic State in Iraq and Syria)—Is there anything you 

would do differently than what Treasury is already doing to shut 

off ISIS from the international financial system and from other financial networks like money remittance channels and currency 

auctions? 

A.3. I certainly will bring my experience in developing counterterrorism campaign plans to my role at Treasury, if confirmed. I understand that Treasury is working across the U.S. Government and 

with Governments around the world to isolate ISIS from the international financial system, and I will continue and enhance these efforts. Treasury has worked closely with the Government of Iraq to 

cut off bank branches in ISIS-controlled territory in Iraq from the 

Iraqi and international financial systems and to put in place safeguards to deny ISIS access to U.S. banknotes. 

If confirmed, under my leadership, Treasury will continue its efforts to ensure that ISIS is not able to use banks and exchange 

houses in recently liberated areas of Iraq, and we will strengthen 

our international partnerships to prevent ISIS from moving funds 

to its branches or its global network. I also look forward, if confirmed, to examining whether there are additional ISIS-affiliated 

individuals who should be designated and sanctioned under appropriate authorities. 

Q.4. Does Treasury need additional authority from Congress to 

counter ISIS’s finances? 

A.4. If confirmed, I look forward to examining this question carefully and will work closely with Congress on this matter. 

Q.5. Iran—At this time, are you aware of another realistic method, 

aside from enforcing and complying with the 2015 nuclear agreement [Joint Comprehensive Plan of Action (JCPOA)], to limit Iran’s 

nuclear program and subject it to rigorous monitoring and inspections? 

A.5. The Administration is currently conducting a review of all 

policies related to Iran, including on the benefits and drawbacks of 

the JCPOA. I look forward to participating in this review and to 

100 

working with Treasury’s partners in the Administration and with 

Congress on this critical issue if confirmed. 

Q.6. As far as you know, are there any deficiencies in Treasury’s 

currently available tools to counter Iran for its non-nuclear activities (ballistic missile development, human rights abuses, support 

for terrorism, etc.)? 

A.6. I understand that Treasury is well-armed through both legislation and executive orders in terms of tools to counter Iran’s ballistic missile activity, support for terrorism, and human rights 

abuses among other nefarious activity. Since the beginning of the 

current Administration, Treasury has issued three rounds of Iran 

sanctions, across the above-mentioned categories. 

If confirmed, I will act vigorously to ensure that we use all available tools to counter Iran’s destabilizing activities and enlist the 

support of our international partners to do the same. Should I find 

the need for additional tools and authorities, I will not hesitate to 

work with you to determine the best means by which to enhance 

existing capabilities. Having served in the 1990s as a Senate committee staffer who drafted several pieces of bipartisan sanctions 

legislation (including on Iran), I appreciate the important role of 

Congress on this matter and look forward to working closely together. 

Q.7. Iran is still on the Financial Action Task Force (FATF) blacklist of countries that are a high-risk of money laundering and terrorist financing. Last year Iran made commitments to FATF to 

make structural reforms in these areas. Will you work with FATF 

to pressure Iran to address its money laundering and terrorist financing problems? 

A.7. Yes. 

Q.8. North Korea—China is North Korea’s outlet to the financial 

system. How do we exert pressure on China to get North Korea to 

freeze its nuclear and ballistic missile activities, without provoking 

a Chinese reaction that harms the U.S. economy? 

A.8. This is a crucial question, and if confirmed, I intend to study 

it carefully. In general, I believe that Treasury should continue to 

use all appropriate tools against North Korea and to persuade 

China to bring economic pressure on its neighbor and trading partner. 

Q.9. State Department Budget—Former Acting Under Secretary for 

Terrorism and Financial Crimes, Adam Szubin, testified before a 

Banking subcommittee on May 10 about the need for sanctions to 

be part of a broader diplomatic strategy. Mr. Szubin said, in part: 

‘‘Massive diplomatic investment and multilateral engagement will 

be needed to marshal a successful effort, and it will require enlisting like-minded and resistant countries.’’ He went on to say ‘‘it 

would be counterproductive in the extreme to deplete our Foreign 

Service corps at a time when we need them so urgently.’’ President 

Trump’s budget blueprint proposes deep cuts to the State Department. Given that diplomacy helps build coalitions with other countries to enforce effective sanctions, would gutting the State Department make your job easier or harder? 

101 

A.9. I have not examined the budget blueprint. Having served as 

a diplomat during my time as NATO Assistant Secretary General, 

I am supportive of our State Department, and both the Career and 

Foreign Services. Sanctions are often deployed in conjunction with 

other levers of national power, especially diplomacy. State Department engagement can amplify Treasury’s efforts, and if confirmed, 

I will continue to be an advocate of keeping a strong diplomatic 

posture. 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR BROWN 

FROM HEATH P. TARBERT 

Q.1. If confirmed, you will lead Treasury’s role on the Committee 

on Foreign Investments in the United States (CFIUS). What kind 

of national security risks could arise if an Administration official’s 

business was acquired in whole or in part by a foreign entity? 

A.1. An acquisition of a U.S. business by a foreign entity potentially could give rise to national security concerns, depending upon 

a number of factors, including but not limited to the nature of the 

particular U.S. business acquired and the acquiring foreign entity. 

The relevant statute and regulations require that, before clearing 

a transaction to proceed, CFIUS find that there are no unresolved 

national security concerns. If confirmed, I am committed to ensuring that CFIUS satisfies this standard, regardless of who owns the 

U.S. business at issue. 

Q.2. Do you believe CFIUS has the resources to thoroughly monitor 

and review foreign acquisitions of U.S. businesses that could 

threaten national security? 

A.2. As I stated in my confirmation hearing, if confirmed, my first 

priority will be to ensure that the Office of Investment Security 

within the Treasury Department has the necessary resources and 

tools to function as Congress intended. To the extent that additional resources and tools are required, I am committed to working 

within the Department and with all relevant parts of the Government to address such needs. 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR WARREN 

FROM HEATH P. TARBERT 

Q.1. Systemic Risk—Do you see cybersecurity at financial institutions as a contributor to systemic risk, and if so, what should 

Treasury be doing about it? 

A.1. Cybersecurity is a critical issue for the safety and soundness 

of financial institutions and financial stability more generally. Potential cyberattacks capable of paralyzing systemically important 

financial institutions and financial market utilities such as clearinghouses and payment systems can contribute to systemic risk. 

Furthermore, the nature of cyberattacks may make traditional 

micro- and macro-prudential tools (i.e., capital and liquidity buffers) less useful at mitigating financial stability threats. 

I am aware that domestic regulators have been working on a 

framework for addressing cybersecurity, and that the Financial 

Stability Oversight Council has highlighted the importance of this 

102 

issue. I also understand that the Office of Critical Infrastructure 

Protection and Compliance Policy within the Treasury Department 

has programs to address cybersecurity issues. If confirmed, I would 

advocate for continued attention to cyber resilience within international forums, such as the G7 and Financial Stability Board— 

particularly because debilitating cyberattacks in certain international financial centers could directly impact the stability of the 

U.S. financial system. 

Q.2. CFIUS—Chinese firms and investors are increasingly trying 

to acquire U.S. companies, or companies with U.S. assets. Last December President Obama blocked a Chinese firm from acquiring a 

German-based semiconductor company with U.S. assets. Are you 

concerned about China’s increasing assertiveness in this area, and 

if so, what will you do about it? 

A.2. Notwithstanding the significant benefit that the U.S. economy 

derives from foreign direct investment, it is the responsibility of the 

Government to ensure the protection of the national security. If 

confirmed, I will carefully review current and potential threats to 

and vulnerabilities within the U.S. semiconductor sector. In carrying out my responsibilities, I will work to ensure that no transaction is approved if national security concerns remain unresolved. 

Q.3. Some public reports have indicated that China may be attempting to circumvent CFIUS in order to gain access to defense 

or other critical technology by investing in early-stage companies or 

otherwise obscuring the source of capital. Is this a concern, and if 

so, do you believe that changes to CFIUS are required? 

A.3. I recall that during my visit to your office, we discussed public 

reports of parties deliberately attempting to circumvent CFIUS. I 

am concerned with such reports, although I understand that a significant amount of work is being done to examine these issues. 

Should I be confirmed, I am committed to fully exploring these 

questions and to working to ensure that CFIUS fulfills its statutory 

mandate. 

RESPONSES TO WRITTEN QUESTIONS OF 

SENATOR DONNELLY FROM HEATH P. TARBERT 

Q.1. CFIUS—The Committee on Foreign Investment in the United 

States (CFIUS) was established to review transactions involving 

foreign entities that could have significant national security implications. Our domestic steel, aluminum, and other metals manufacturers are of vital importance to our Nation’s critical infrastructure 

and national security. Increased levels of foreign imports, often 

aided by illegal Government subsidies, have continued to weaken 

our domestic manufacturers and provide foreign companies greater 

access to the domestic market. 

If confirmed, you will be responsible for heading Treasury’s 

CFIUS efforts. How do you plan to prioritize agency resources to 

ensure transactions are being appropriately vetted? 

A.1. If confirmed, I will work to ensure that the resources of the 

Treasury Department are prioritized in a manner that ensures all 

transactions are appropriately vetted. In addition, I will make it a 

priority to assess the adequacy of the resources available for 

103 

CFIUS to fulfill its national security mandate. To the extent that 

additional resources and tools are required, I am committed to 

working within the Treasury Department and with all relevant 

parts of the Government to address such needs. 

Q.2. Do you believe there are areas in which the CFIUS review 

process can be improved to increase its effectiveness or the number 

of transactions reviewed by the Committee, particularly those involving manufacturing acquisitions? 

A.2. If confirmed, I will consult with the career professionals in the 

Office of Investment Security within the Treasury Department and 

other relevant stakeholders to determine whether any aspects of 

the review process should be adjusted to improve the ability of 

CFIUS to satisfy its national security mandate. To the extent that 

any such adjustments are appropriate, I am committed to working 

within the Treasury Department and with all relevant parts of the 

Government, as applicable to address them. 

With respect to national security issues potentially arising from 

the acquisition of domestic manufacturers, I note that Section 721 

of the Defense Production Act of 1950, as amended, directs CFIUS 

to consider a number of factors, at least several of which are directly relevant to our manufacturing sector. Those factors include: 

domestic production needed for projected national defense requirements, the capability and capacity of domestic industries to meet 

national defense requirements, and the potential national security 

effects on United States critical infrastructure. If confirmed, I will 

work to ensure those factors and all others required by law to be 

considered are appropriately taken into account. 

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ADDITIONAL MATERIAL SUPPLIED FOR THE RECORD

LETTERS SUBMITTED IN SUPPORT OF THE NOMINATION OF SIGAL P. 

MANDELKER 


51617042.eps
105 


51617043.eps

Hon. Mike Crapo, Chairman 

Hon. Sherrod Brown, Ranking Member 

May 15,2017 

Page2 

We believe Ms. Mandelker has the characteristics to be a strong and effective leader of 

this important position at the Department of the Treasul)'. We thank the Committee for allowing 

us to present this information about her and believe that our country would be well-served to see 

her confirmed. 

Respectfully, 

Lanny Breuer 

Assistant Attorney General, Criminal Division, Department ofJustice 

Jeffrey S. Bucholtz 

Acting Assistant Attorney General, Civil Division, Department of Justice 

Steven G. Bradbul)' 

Assistant Attorney General, Office of Legal Counsel, Department of Justice 

Benjamin Campbell 

Interim United States Attorney, EDNY 

John P. Carlin 

Assistant Attorney General, National Security Division, Department of Justice 

Michael Chertoff 

Secretary of the Department of Homeland Security 

Assistant Attorney General, Criminal Division, Department of Justice 

Viet D. Dinh 

Assistant Attorney General, OfficeofLegal Policy, Department ofJustice 

John P. Elwood 

Deputy Assistant Attorney General, Office of the Legal Counsel, Department of Justice 

Alice S. Fisher 

Assistant Attorney General, Criminal Division, Department of Justice 

James M. Garland 

Deputy Chief of Staff & Counselor to the Attorney General 
106 


51617044.eps

Neil H. MacBride 

United States Attorney, EDVA 

William E. Moschella 

Hon. Mike Crapo, Chairman 

Hon. Sherrod Brown, Ranking Member 

May 15,2017 

Page3 

Assistant Attorney General, Office of Legislative Affairs, Department of Justice 

Mythili Raman 

Acting Assistant Attorney General, Criminal Division, Department of Justice 

Kristi L. Remington 

Deputy Assistant Attorney General, Office of Legal Policy, Department of Justice 

Luis Reyes 

Chief of Staff and Deputy Associate Attorney General, Department of Justice 

Barry Sabin 

Deputy Assistant Attorney General, Criminal Division, Department of Justice 

Anita Singh 

Chief ofSraff and Counselor, National Security Division, Department of Justice 

Jeffrey A. Taylor 

United States Attorney, District of Columbia 

KennethL. Wainsiein 

United States Attorney, District of Columbia 

Assistant Attorney General for the National Security Division, Department of Justice 

Christopher A. Wray 

Assistant Attorney General, Criminal Division, Department of Justice 
107 


51617045.eps

May 15,2017 

Chainnan Mike Crapo 

Ranking Member Sherrod Brown 

United States Senate Committee on Banking, Housing and Urban Affairs 

534 Dirl<.seo Senate Office Building 

Washington, D.C. 20510 

Dear Chainnan Crapo and Ranking Member Brown: 

The undersigned, fonner senior government officials from both political parties, write in 

support of Sigal Mandelker's nomination as Undersecretary of the Treaswy for Terrorism and 

Financial Intelligence. 

Over the course of Ms. Mandelker's career in national security, counterterrorism and law, 

we have known her to be a person of the utmost integrity, expertise, and exceptional judgment. 

As a senior official at both the Departments of Justice and Homeland Security, Ms. 

Mandelker handled sensitive matters at the intersection of security, policy and 

countenerrorism. She proved to be a reliable consensus builder across government agencies, 

weighing carefully the differing needs and equities of the law enforcement, intelligence and 

homeland security communities. She developed a reputation as an honest broker and bridgebuilder between agencies, worl<.ing daily to remove the stovepipes that hinder effective security 

policy. 

Ms. Mandelker has repeatedly proven herself to be a strong advocate for what is right for 

American security, irrespective of partisanship, conventional wisdom or past practice. She has 

always sought to bring innovative solutions to our security challenges, and has done so in a fair 

and even-handed manner, guided by principle rather than self-interest or parochial agency 

concerns. 

Over the course of Ms. Mandelker's career, she has been a highly efficient and thoughtful 

manager of people. She brings a healthy blend of high standards, compassion for her team and 

willingness to advocate for the mission. In doing so, she has earned not just our admiration and 

respect, but that of those she has supervised, in both the civil service and political ranks. 
108 


51617046.eps

For this important job at this critical time, we can think of no one better suited than Ms. 

Mandelker. She has exactly the right skills to marshal and drive U.S. strategy at the intersection 

of international finance and national security. We believe that she will bring dedication to duty, 

innovation and honesty to this role, and we are delighted to wholeheartedly endorse her 

nomination. 

Respectfully, 

Stuart Levey 

Fonner Under Seeretary for Terrorism and Financial Intelligence 

U.S. Department of the Treasury 

Michael P. Jackson 

Fonner Deputy Secretary 

U.S. Department of Homeland Security 

Charles Allen 

Fonner Under Seeretary for Intelligence and Analysis 

U.S. Department of Homeland Security 

Juan C. Zarate 

Fonner Deputy Assistan.tto the President and Deputy National Security Adviser for Combating 

Terrorism 

Douglas B. Baker 

Fonner Assistant to the President and Senior Director for Border and Transportation Security 

Stewart Baker 

Fonner Assistant Secretary for Policy 

U.S. Department of Homeland Security 

Chad N. Boudreaux 

Fonner Deputy Chief of Staff 

U.S. Department of Homeland Security 

Steve Bunnell 

Fonner General Counsel 

U.S. Department of Homeland Security 

Jennifer Shasky Cal vel)' 

Fonner Director, Financial Crimes Enforcement Network 

U.S. Department of the Treasury 

Lily Fu Claffee 

Fonner Deputy General Counsel 

U.S. Department of the Treasury 
109 


51617047.eps

Adam Isles 

former Deputy Chief of Staff 

U.S. Department of Homeland Se<:Urity 

Donald H. Ken~ Jr. 

Former Assistant SecretaJy for Legislative Affairs 

U.S. Department of Homeland Security 

Jason Klitenic 

Former Deputy General Counsel 

U.S. Department of Homeland Security 

Michael Leiter 

former Director 

National Counterterrorism Center 

Brian Morrison 

Former Deputy Staff Director and General Counsel 

U.S. House of Represent.'ltives Permanent Select Committee on Intelligence 

Patrick O'Brien 

Former Assistant SecretaJy for Terrorist Financing and Financial Crimes 

U.S. Department oftbe Treasul)' 

Matthew G. Olsen 

former Director 

National Counterterrorism Center 

Philip PeT!)' 

Former General Counsel 

U.S. Department of Homeland Security 

John S. Pistole 

former Administrator 

Transportation Security Administration 

Chad Sweet 

Former Chief of Staff 

U.S. Department of Homeland Se<:Urity 

AdamJ. Szubin 

Former Acting Under Secreta!)' 

Office ofTerrorism and Financial Intelligence 
110 


51617048.eps

Joe D. Whitley 

former General Counsel 

U.S. Department of Homeland Se<:Urity 

John P. Wood 

Former Chief of Staff 

U.S. Department of Homeland Se<:Urity 

Julie Myers Wood 

Former Assistant Secretary of Homeland Security for Immigration and Olstoms Enforcement 

U.S. Department of Homeland Se<:Urity 
111 


51617049.eps

The Honorable Mike Crapo 

Chainnan 

May 9, 2017 

Commillee on Banking, Housing, & Urban Affairs 

United States Senate 

Washington, DC 20510 

The Honorable Sherrod Brown 

Ranking Member 

Committee on Banking, Housing, & Urban Affairs 

United States Senate 

Washington, DC 20510 

Re: Nomination of Sigal Mandelker for Under Secretary of the Treasury for Terrorism and 

Financial Intelligence 

Dear Chainnan Crapo and Ranking Member Brown: 

We are writing to express our strong support for the nomination of Sigal Mandelker to 

serve as Under Secretary of the Treasury for Terrorism and Financial Intelligence. We believe 

she would be an excellent choice for this critical position. 

Each of us had the privilege of clefl<ing for a Justice of the Supreme Court of the United 

States during OctoberTenn 2001, when Sigal clefl<ed for Justice Clarence Thomas. After our 

clerkships, many of us have gone on to positions in the executive branch under Presidents Bush 

and Obama, to academia, and to private practice. But during our year together at the Court, we 

had the opportunity to see firsthand Sigal's legal skills, her temperament, and her warm good 

nature. We can say without reservation that Sigal showed all the qualities necessary to succeed in 

a sensitive executive position. Sigal perfonned all her work with dedication, intellectual rigor, 

and sound judgment. At the same time, she was collegial with her fellow law clerks and eager to 

hear a variety of views. 

Sigal's career after her clerkship confirms that she has the experience, skills, and 

demeanor for this position. The 9/11 attacks occurred during our year at the Court, and 

immediately after her clerkship Sigal joined the executive branch to work on pressing counterterrorism and national security issues. She served as an Assistant United States Attorney in the 

Southern District of New Yorl<, as Counsel to the Deputy Attorney General, and as Special 

Assistant to the Assistant Attorney General for the Criminal Division of the Justice Department. 

Sigal then served as Counselor to the Secretary of Homeland Security, where she helped the 

Secretary manage the Department's intelligence, law enforcement, and immigration components. 

In 2006, Sigal returned to the Justice Department to serve as Deputy Assistant Attorney 

General in the Cri minal Division. There she oversaw four major prosecutorial sections, 

including the Don1estic Security Section and the Computer Crime and Intellectual Property 
112 


51617050.eps

May9, 2017 

Page Two 

Section. She also supervised a number of critical domestic and cross-border prosecutions and 

represented the United States in international fora. Sigal later joined Proskauer, where she is a 

partner in the firm's litigation department. 

Sigal was well liked and deeply respected by her fellow clerks, and those that have 

worked with her in government and private practice have felt the same. At each stage of Sigal's 

career, she has demonstrated razor-sharp intelligence, exemplary judgmen~ and a \\~llingness to 

assimilate an anray of views. And along the way she has gained substantive and leadership 

experience that makes her extraordinarily qualified to be the Under Secretary of the Treasury for 

Terrorism and Financial Intelligence. We recommend her for this position \\~thout reservation.' 

Respectfully submitted, 

Matthew Berry Shay Ovoretzky 

Law Clerk to Justice Clarence Thomas Law Clerk to Justice Antonio Scalia 

Htather Elliott Susan E. Engt.l 

Law Clerk to Justice Ruth Bader Ginsburg Law Clerk to Justice Antonio Scalia 

Brian T. Fitzpatrick Carolyn J. Frann 

Law Clerk to Justice Antonio Scalia Law Clerk to Justice Sandra Day O'Connor 

Jeremy Gaston Risa GolubofT 

Law Clerk to Justice Sandra Day O'Connor Law Clerk to Justice Stephen G. Breyer 

Benjamin Gruenstein Kathleen Hartnett 

Law Clerk to Justice David H. Souter Law Clerk to Justice John Paul Stevens 

Mirah A. Horowitz Thomas Lee 

Law Clerk to Justice Stephen G. Breyer Law Clerk to Justice David H. Souter 

Michael Leiter Anup Malani 

Law Clerk to Justice Stephen G. Breyer Law Clerk to Justice Sandra Day O'Connor 

Brett McGurk Troy McKenzie 

Law Clerk to Chief Justice William H. Rehnquist Law Clerk to Justice John Paul Stevens 

· Please note tl1at professional ethics rules prererued ccnain menters or our clerlcship class from signing this letter. 
113 


51617051.eps

May9, 2017 

Page Three 

Edward Morrison 

Law Clerk to Justice Antonio Scalia 

David O'Neil 

Law Clerk to Justice Ruth Bader Gi nsburg 

Nicholas Quinn Rosenkranz 

Law Clerk to Justice Anthony M. Kennedy 

Aaron Saiger 

Law Clerk to Justice Ruth Bader Ginsburg 

e~ander J. Willsche.r 

Law Clerk to Justice Anthony M. Kennedy 

John Neiman 

Law Clerk to Justice Anthony M. Kennedy 

Joseph Palmore 

Law Clerk to Justice Ruth Bader Gi nsburg 

Monica Washington Rothbaum 

Law Clerk to Justice David Souter 

Heidi Doerhoff Vollet 

Law Clerk to Chief Justice William H. 

Rehnquist 
114 

LETTERS SUBMITTED IN SUPPORT OF THE NOMINATION OF MIRA 

RADIELOVIC RICARDEL 


51617052.eps

The Honorable Mike Crapo 

Chainnan 

SENATOR BOB DOLE 

THE ATLANI1C BUILDING 

9)0 F STREET, N.W, lOTH FLOOR 

WASHINGTON, D.C. 20004 

May 15,2017 

U.S. Senate Committee on Banking, Housing and Urban Affairs 

United States Senate 

Washington, D.C. 20510 

Dear Mike, 

I am writing to offer my endorsement to the nomination of Mira Rieardel for Under 

Secretary of Commerce for Export Administration. It is my understanding that she will be 

part of a panel of nominees before the Banking Committee tomorrow and that your preference 

is that nominees not be introduced, hence my letter. 

Mira worked for me from 1989 to 1996 as my legislative assistant for anns control and 

foreign policy and later as my senior adviser when I chaired the International Commission on 

Missing Persons in the fonner Yugoslavia. Mira developed considerable expertise in 

important national security matters including NATO, anns control and nuclear weapons 

policy, and worked successfully with staff and Senators on passage of critical legislation such 

as advice and consent on anns control treaties. Sbe also served with distinction in the 

Pentagon, overseeing Department of Defense relations with dozens of allied countries and 

leading policies related to nuclear weapons, nonproliferation, defense technology security, 

security cooperation, missile defense and anns control. 

Over the years, Mira has demonstrated sound judgment, a strong work ethic and an 

ability to work well across party lines. She bas effective relationships with Republican and 

Democrat committee staff and has a successful track record of getting things done. When I 

sponsored legislation related to the conflict in Bosnia, Mira helped me build a bipartisan 

coalition of 69 votes for passage. 

Mira possesses broad national security expertise as well as exceptional leadership 

skills. I am confident that Mira will do an outstanding job as Under Secretary of Commerce 

for Export Administration, and I urge that sbe be supported by the Banking Committee and 

confirmed by the U.S. Senate. 

God Bless America, 

BOB DOLE 
115 


51617053.eps

May 11, 1017 

0 1amn:tn C.r•po and Ra king~ ltmber Bmw11, 

I am writmg to offer mr enthusiastic support for d~e nonllltiiiOil of ~lira Ricanlcl robe d~e Under ~retary of 

Commcn:c for Export .\dmnlJStmuoo 

I have bmm and \\vri<t.xl wuh ~fs. Ric1nlel su1ce ~e ser\·etl in d1e Sr.uc Dcpamncnt as dcpu~· d~rector for 

congressional affa1rs w1thm d1e L'.S. c\nns Conrrol•nd Dis;umamem Agencr. Ducing d1at penod, I w.~> the 

mmoncy s12ff dntctor of the Senate .\nned Services Commmee for Sen. Sam i'lunn (D-G. \},and e'~ 

closely ~·ith her on impomm •= oomrol a1l<l nucl t~r issues. She \\~S always cooperating and willing to pronde 

our Commit ret an<i the Scmte w11h necessary briefings, support, and expertiSt. 

I d1en lrad the pleas11re of "'OI'Iong wid1 her as a Selttte coll~.~g~~e wilel1 she hecame a rop foreign policy advisor 

for Sen. !lob Dole wilel1 I wAs tl1c sr-atr direc1or of rile S.\SC. Ms. Rlcardel \v-As al\\'<1)~ exceromgly hrlpful ru1d 

cooperanvc both 111 CllS\Iflllg our Commmre could get our bill on the ftoor of d1e Senale and 111 dcalmg \\ith 

nun~erous policy omendmcnts that required signifl('ml coordinarion. ~k Ric.lrdel appllloched na11onal SCC\If1~· 

10 a bipartisan fashion ;Uld pmnded tnJCh needed fore'S" policy expenis.e. 

I <dso had d•e pm·1lcge of work1ng with her when she was • sCltiOr offic.ll "' d'IC Penr.lj\00, as bod1 dte Deputy 

\ss~t•nt ~n-tu; of Defense for Eurasia ruld lhe ac1ing. \ssistanl ~retuy of DefCltse for lntemanonal 

Set1 n~· Poltcv, as I set\'ed oo ,~; bo'Jn ~ Md COillll\tSSIOtlS for dte Pen1:1g0n. \~n , her expertsse and 

collaborarire 'I'P"""" shown thmu~1 her "-or~< 10 krep c•u n:tnoo and our allies SCOire. 

Duru•g ~Is. Rocartlel'< post-government ten\lre at lloemg 111 st\'er>l lugh-le\'cl posting:;, she worted closely wnh 

utdtiSil)' gRJUJl$, u1clud1ng lhe l\at101W Defense lndus1rtal .-\ssocJa11011, til whtch I held ranous leadersh1p 

poSIIIOflS a1 the tune. She brought the same subst.llnl\'e, cooperatl\'l' approoch as l're S<tll her txhibi1 

dmJUg!IOuii'ICr career 

I ha•·e obsen'Cd or been uwoh-ed in numerous lr.III:Siuum from one admuuslraiKJf\ 10 anodl('l, :tnd ooce >g;llll I 

lud dJC opponuni~ ro mfoonally work "id1 ~Is. Ricardcl .s she =nally led d~e defense 1e1m for Presidem 

Tromp. She did • truly superb tob, as us11al. 

She h.s a deep wldettrandlllg of anru comrol, spccif.: reg.o<IS of ~e world, as wdl» indusll)' persptcri•·cs, 

lllllkutghcr Wliqucly quahfied for this pos1rion. I hal'<' oo hcsimion reoommending her for this key pmiti<lcl and 

bmv she w~l bong dtc same objettire, dear·ered,lho~1ful appro-•ch tO th1s posmon as she has n1 all her ,ob:; 

of tOCI'CaSIIlg respons1biliocs orer dte year.~. 

I hope the Bankmg. Housmg. and Urban • \ffrur.1 Comminee \\'Ill recommend and ulomately the $Cl1ate will 

t.-oofinn Ms. Ranlrl for d'IC cntJCal pos•lion "i1h111 d'IC Comn'ICrce Dqr•runent, essemml m bod• 11ur e<XJ~lomy 

and our nacion:~ :!tC\101)'. 

\la,o

M!~ r Genetlll ~mold L. Punaro 

l!ntled Swes ~brine Corps, Ret. 

Fonner S12ff O.rec1or, Selt~re . \nned Seo·JCCS C.omtnince 
116 

LETTER SUBMITTED IN SUPPORT OF THE NOMINATION OF 

MARSHALL BILLINGSLEA 


51617054.eps

The Honorable Mkhael Crapo 

Chairman, Senate Committee on Banklna 

50·239, Senate Dirksen Office Building 

Washlnston, DC 20510 

The Honorable SherTOd Brown 

Rankins Member, Senate Committee 0118ankirc 

SH· 713, Senate Hort Office Build ina 

WuhinatOII, DC 20510 

Dear Chairman Crapo and Ranking Member Brown: 

Mayl1,2017 

I am writins to you, in support of Mr. MarshallBnlinsslea's nomination to serve as Assistant 

Secretary of the Treasury for Terrorist Financtna. 11\ave known Marshall since 2002. when 1 served as 

the Nml Criminallrwestigative SeMc:e's (NOS) Chief Psydlologist In that capacity,l was supporting 

the Crimlnall-mga!M Task~ at Guantanamo Bay, Cuba (GTMO). Since then, I have had the 

plusure of womns with Mr. Billinsslea at Dtloitte. 

Marshall is an honest. and hfehly principled individual with Impeccable lntesritv. I understand 

that some have raised questions about his views on Interrogation procedures used at GTMO. The 

record shows that I personally was very outspoken at the time, and since, asalnst the use of coercive 

lnterrosation techniques. While Marshall and I did not agree on ~ry aspect of GTMO, he never 

condoned the use of torture, nor did he adVocate arry technique that could corutitute torture. I also 

know that Marshall was the person wtoo sinslt-handedly blod<ed consideration of the use of 

waterboardlrc at GTMO. 

It Is very important to note that the Senate Armed Servicts Committee thorouchly invesfilated 

this Issue, and that MarshaU was never tvtn called to speak with Senate investf&ators. This is because 

the record Is very clear that he is one of several officials wtoo worked to establish transparency and clear 

rules regarding detainee operations. 

For this, and his tireless service to the nation, I urge the Senate Committee on Bankins to 

confirm Mr. Billinsslea to the position for which he has been nominated.