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UK Related Items and Policy

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On 1 November 2021, the UK Office of Financial Sanctions Implementation (“OFSI”) published an updated Charity Sector Guidance and a blog post in response to Afghanistan’s Taliban takeover in August. A copy of the Guidance is available here. The Afghanistan (Sanctions) (EU Exit) Regulations 2020 put in place sanctions measures to ensure the UK continues to meet its obligations under the United Nations sanctions regime. While the UK has enforced financial sanctions relating to Afghanistan since…

On 6 September 2021, the Office of Financial Sanctions Implementation (“OFSI”) published its 2021 frozen asset reporting notice (see here). The notice is a reminder that all persons that hold or control funds or economic resources belonging to, owned, held, or controlled by a designated person must provide a report to OFSI with the details of these assets by Friday 15 October 2021. This is part of HM Treasury’s annual review of frozen assets to…

Following the successful launch of our inaugural virtual Annual Compliance Conference in 2020, attracting close to 2,500 in-house senior legal and compliance professionals from across the world, we will return this year in a virtual format to deliver our cutting-edge insights and guidance on key global compliance issues, as businesses and enforcement agencies transition to a new post-pandemic global compliance and investigations landscape. Held across five weeks from 6 September – 8 October 2021, we…

On 23 June 2021, HM Treasury released updated guidance on financial and investment restrictions under the Russia (Sanctions) (EU Exit) Regulations 2019 (the “Regulations”). Whilst the guidance is substantively the same as that released in June 2020, a number of “Frequently Asked Questions” have been added to clarify interpretation of the Regulations. The Frequently Asked Questions reflect some, though not all, of the guidance previously outlined by the European Commission in relation to its interpretation…