Guidance
FIN-2020-G002 Issued: August 3, 2020 Subject: Frequently Asked Questions Regarding Customer Due Diligence (CDD) Requirements for Covered Financial Institutions. The Financial Crimes Enforcement Network (FinCEN), in consultation with the federal functional regulators, is issuing responses to three frequently asked questions (FAQs) regarding customer due diligence requirements for covered financial institutions. […]
Today, OFAC added the following people: PENG, Jiarui (Chinese Simplified: 彭家瑞), Xinjiang, China; DOB Apr 1961; nationality China; Gender Male (individual) [GLOMAG] (Linked To: XINJIANG PRODUCTION AND CONSTRUCTION CORPS). SUN, Jinlong (Chinese Simplified: 孙金龙), Xinjiang, China; DOB Jan 1962; nationality China; Gender Male (individual) [GLOMAG] (Linked To: XINJIANG PRODUCTION AND […]
Maritime guidance published OFSI has today published new guidance for the maritime sector. It provides financial sanctions guidance for entities and individuals which operate in, or with, the maritime shipping sector, especially those involved in areas that may be subject to UK financial sanctions restrictions. This should be considered supplementary […]
OFAC amended 9 Frequently Asked Questions (FAQs) related to the latest versions of Ukraine/Russia-related General Licenses 13 and 15, Link: OFAC Notice Updated FAQs: 570, 571, 586, 588, 589, 590. 591, 592, 625
Updated Public Guidance for Section 232 of the Countering America’s Adversaries Through Sanctions Act (CAATSA) MEDIA NOTE OFFICE OF THE SPOKESPERSON JULY 15, 2020 Share Today, the Department of State updated the public guidance for Section 232 of the Countering America’s Adversaries Through Sanctions Act (CAATSA), which allows for the imposition […]
Today, OFAC issued General License 5D, which authorizes transactions involving PdVSA’s (Petroleos de Venezuela, S.A.) 2020 8.5% bond, but only after October 20, 2020. The previous version authorized those payments from late July on. I wonder what will happen when the bond matures? 2020 is running out fast… And OFAC […]
OFSI publishes latest blog OFSI has posted a new blog on the subject of the UK’s Global Human Rights sanctions regime – the UK’s first autonomous sanctions regime under the Sanctions and Anti-Money Laundering Act 2018 (the Sanctions Act). This blog provides key information you may need when implementing financial sanctions for this […]
Statutory guidance Global Human Rights sanctions: guidance Published 6 July 2020 Contents 1. Prohibitions and requirements imposed by the Global Human Rights Sanctions Regulations 2020 2. How will these sanctions measures be enforced? 3. Are there circumstances when I can get an authorisation or licence for a sanctioned activity? 4. Further Information As required […]
From OFAC: Publication of Xinjiang Supply Chain Business Advisory 7/1/2020 On July 1, the U.S. Departments of State, Commerce, Homeland Security, and Treasury issued an advisoryon the risks for businesses with potential exposure in their supply chain to entities engaged in human rights abuses in the Xinjiang Uyghur Autonomous Region (Xinjiang) . […]
Recently, the European Commission was asked for an opinion on a variety of ownership and control issues related to Council Regulation (EU) 269/2014 (back then, the date was after the regulation number), which is a Ukraine territorial integrity, sovereignty and independence sanctions measure. Here’s the conclusions section: CONCLUSIONS In light […]
