17 Mar, 2023 OFSI publishes new guidance on ownership and control By Helen Harvey Jenny Shelley On 16 March, the Office of Financial Sanctions Implementation (OFSI) updated its enforcement and monetary penalties for breaches of...
16 Nov, 2022 OFSI’s annual review of an unprecedented year By Helen Harvey Chris Akka On 10 November 2022, the UK’s Office of Financial Sanctions Implementation (“OFSI”) published its annual review. This has been a...
29 Sep, 2022 OFSI impose monetary penalty (and include compliance lessons for all) By Helen Harvey Aaliyah Sattar The UK’s Office of Financial Sanctions Implementation (OFSI) announced on 27 September 2022 that it had imposed a £30,000 monetary...
06 Jul, 2022 United Nations tells global banks: stop over-complying with financial sanctions By Francis Bond The UN Special Rapporteur on The Negative Impact of Unilateral Coercive Measures on Human Rights has made an appeal to banks and other...
24 Jun, 2022 Office of Financial Sanctions Implementation: looking to upscale and upskill By Helen Harvey Helin Gurel On Wednesday 22 June, the director of the Office of Financial Sanctions Implementation (“OFSI”), Giles Thomson, speaking to the House of...
15 Jun, 2022 New strict liability offence for financial sanctions comes into force today, amongst others By Francis Bond Following the Economic Crime (Transparency and Enforcement) Act 2022’s expedited passage through Parliament in March 2022, the Office of...
20 May, 2022 The FCA unveils new reporting platform for sanctions breaches By Francis Bond Georgia O'Connor The Financial Conduct Authority (FCA) has launched a new financial sanctions evasion reporting platform for regulated entities, in a bid...
21 Oct, 2021 UK Parliamentary Group seeks sanctions against corrupt global actors By Francis Bond The All-Party Parliamentary Group on Magnitsky Sanctions (“APPG”), co-chaired by MPs Sir Iain Duncan Smith and Chris Bryant, was formally...
06 Jul, 2020 UK Government acts “without fear or favour” to introduce new human rights sanctions, effective immediately By Francis Bond The UK has begun to detail its post-Brexit sanctions regime, beginning with a series of “Magnitsky” measures (a reference to the late...
25 Mar, 2020 Will Covid-19 unwind global sanctions regimes? UN calls for change By Francis Bond Leading figures at the United Nations have called on member states to ease their sanctions regimes in the wake of the Covid-19 crisis....