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Canada issues Myanmar-related business guidance

Canada issues advisory on doing business with Myanmar-related entities April 13, 2021 – Ottawa, Ontario – Global Affairs Canada The Government of Canada today issued an advisory for Canadian companies doing business with Myanmar-related entities. The Government of Canada expects Canadian companies active abroad, in any market or country, to […]

OFAC publishes 2 new Syria FAQs

884. Do non-U.S. persons, including nongovernmental organizations (NGOs) and foreign financial institutions, risk exposure to U.S. secondary sanctions pursuant to the Caesar Syria Civilian Protection Act of 2019 (Caesar Act) for activities that would be authorized under the Syrian Sanctions Regulations (SySR)? Answer With respect to non-U.S. persons, OFAC will not […]

March 25, 2021: OFAC sanctions 2 entities, removes 1 entity and updates 2 listings under Burma program

Yesterday, OFAC added the following 2 entities: MYANMA ECONOMIC HOLDINGS PUBLIC COMPANY LIMITED (a.k.a. MYANMAR ECONOMIC HOLDING LIMITED; a.k.a. “MEHL”), 51*Mahabandoola Road 189/191, Botataung, Rangoon 11161, Burma; Registration Number 156387282 (Burma) [BURMA-EO14014].  MYANMAR ECONOMIC CORPORATION LIMITED (a.k.a. MYANMAR ECONOMIC CORPORATION; a.k.a. “MEC”), Corner of Ahlone Road & Kannar Road, Ahlone Township, […]

Nothing like a little prior notice: FINTRAC publishes new AML guidances, effectiveness in June

Publication of updated FINTRAC client identification, record keeping and other guidance FINTRAC has updated its record keeping, client identification, beneficial ownership, and correspondent banking guidance to reflect regulatory amendments coming into force on June 1, 2021, and its foreign branches, foreign subsidiaries and affiliates requirements guidance by aligning its formatting with recently published guidance pieces. Please note that […]