Newly Launched Office of Financial Sanctions Implementation (OFSI) Publishes New Guidelines on Financial Sanctions in the UK
Wednesday, May 25, 2016

The New Guidelines on Financial Sanctions in the UK provides a general overview of the application of the UK’s financial sanctions framework, as well as providing practical examples of how the OFSI will generally approach licencing and compliance questions.

This guide is prepared in two parts. Part A provides a general overview of the financial sanctions framework which applies in the UK. Part B provides practical examples of how OFSI will generally approach licencing and compliance questions, although each case will be considered on its own facts and the specific legal requirements applying to the relevant financial sanctions regime. References to ‘a person’ throughout this guide include natural people, as well as entities and bodies of any type. References to a ‘designated person’ are to persons who are subject to an asset freeze, and references to the ‘listing’ of a person means their inclusion on the list of designated persons.

Continue reading here: Financial Sanctions: Guidance

 

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