September 17, 2015
“Mr. Szubin, if confirmed, will be the third Under Secretary of the Treasury with the responsibility for the Office of Terrorism and Financial Intelligence. The Under Secretary reports directly to the Secretary.
“This position is responsible for executing the dual mission of combating terrorist financing and money laundering while overseeing enforcement of the nation’s constantly-evolving sanctions programs.
“The Under Secretary also oversees a number of separate policy, regulatory and enforcement offices, such as the Office of Terrorism and Financial Crimes; the Office of Foreign Assets Control; the Office of Intelligence and Analysis; the Treasury Executive Office for Asset Forfeiture; and the Financial Crimes Enforcement Network.
“Mr. Szubin comes to the Under Secretary’s office with over 15 years of government experience.
“He has participated in several international negotiations including the President’s recent Iran nuclear deal that is being considered by the Senate this week.
“Ironically, the nominee, who has helped assemble and enforce the most comprehensive sanctions architecture against the world’s leading state sponsor of terrorism, may now be tasked by the President with dismantling most of it.
“Given this context, today’s hearing is both important and timely. The Committee looks forward to Mr. Szubin’s testimony and his responses to our questions.”
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Shelby Opening Remarks on the Nomination of Mr. Adam J. Szubin
WASHINGTON, DC – Thursday, September 17, 2015 – U.S. Senator Richard Shelby (R-Ala.), Chairman of the United States Senate Committee on Banking, Housing, and Urban Affairs, today delivered the following opening statement during a full committee hearing on the nomination of Mr. Adam J. Szubin to be Under Secretary of the Treasury for Terrorism and Financial Crimes.
The text of Chairman Shelby’s remarks, as prepared, is below.
“This morning we will hear testimony on the nomination of Mr. Adam J. Szubin of Washington, D.C. to be Under Secretary of the Treasury for Terrorism and Financial Crimes.
“Mr. Szubin, if confirmed, will be the third Under Secretary of the Treasury with the responsibility for the Office of Terrorism and Financial Intelligence. The Under Secretary reports directly to the Secretary.
“This position is responsible for executing the dual mission of combating terrorist financing and money laundering while overseeing enforcement of the nation’s constantly-evolving sanctions programs.
“The Under Secretary also oversees a number of separate policy, regulatory and enforcement offices, such as the Office of Terrorism and Financial Crimes; the Office of Foreign Assets Control; the Office of Intelligence and Analysis; the Treasury Executive Office for Asset Forfeiture; and the Financial Crimes Enforcement Network.
“Mr. Szubin comes to the Under Secretary’s office with over 15 years of government experience.
“He has participated in several international negotiations including the President’s recent Iran nuclear deal that is being considered by the Senate this week.
“Ironically, the nominee, who has helped assemble and enforce the most comprehensive sanctions architecture against the world’s leading state sponsor of terrorism, may now be tasked by the President with dismantling most of it.
“Given this context, today’s hearing is both important and timely. The Committee looks forward to Mr. Szubin’s testimony and his responses to our questions.”
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