Day: July 22, 2021

On 22 July, OFAC listed a Cuban individual and oaane Cuban entity pursuant to the Executive Order which builds upon and implements the Global Magnitsky Human Rights Accountability Act and targets perpetrators of serious human rights abuse and corruption around the world.  Alvaro LOPEZ MIERA and the BRIGADA ESPECIAL NACIONAL DEL MINISTERIO DEL INTERIOR are designated.

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20210722

https://home.treasury.gov/news/press-releases/jy0288

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On 20 July, HMRC said that the UK Government takes tax avoidance very seriously and is determined to clamp down on the unscrupulous promoters who market these schemes.  It also says that the Government is consulting on draft legislation to implement the measures outlined in this document and intends to legislate for them in the next Finance Bill, and this will give taxpayers greater information about promoters and ensure that those promoters who are determined to continue to operate will face further tough action.  HMRC issued a consultation about clamping down on the promoters of tax avoidance on 23 March and this closed on 1 June.  The government received 18 written responses and met with 9 representative bodies.  Draft legislation on the proposals was published alongside this summary of responses to the consultation. Stakeholders will be provided with an opportunity to comment on the draft legislation. 

https://www.gov.uk/government/consultations/clamping-down-on-promoters-of-tax-avoidance/outcome/clamping-down-on-promoters-of-tax-avoidance-summary-of-responses

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On 22 July, HM Treasury reported on a call for evidence which supports the review which will aim to assess the UK’s anti-money laundering and counter terrorist financing regulatory (OPBAS) regulations and supervisory regimes.  The document considers 3 themes –

• the overall effectiveness of the regimes and their extent (i.e. the sectors in scope as relevant entities);
• whether key elements of the current regulations are operating as intended; and
• the structure of the supervisory regime including the work of OPBAS to improve effectiveness and consistency of PBS supervision.

This consultation closes on 14 October.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1004602/210720_MLRs_Review_Call_for_Evidence_final.pdf

Also on 22 July, HM treasury issued a call for evidence invites views and evidence on the steps that the government proposes to take to amend the Money Laundering Regulations and which will allow the government to make some time-sensitive updates to the Regulations, which are required to ensure that the UK continues to meet international standards set by FATF, whilst also strengthening and ensuring clarity on how the AML regime operates.  This consultation also closes on 14 October.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1004603/210720_SI_Consultation_Document_final.pdf

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On 22 July, a Notice from HM Treasury advised that 2 Colombians (including Alex Nain SAAB MORAN), an Iraqi, an Equatorial Guinean national and a Zimbabwe national had been added to the UK’s human rights sanctions list.

• Nawfal Hammadi AL-SULTAN
• Teodoro NGUEMA OBIANG MANGUE
• Alvaro Enrique PULIDO VARGAS
• Alex Nain SAAB MORAN
• Kudakwashe Regimond TAGWIREI (Group ID: 14126

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1005064/Notice_Global_Anti-Corruption_220721.pdf

https://www.gov.uk/government/news/new-uk-sanctions-against-individuals-involved-in-corruption-around-the-world

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On 22 July, OCCRP reported that a British national, Neil Perry Smith, 58, was extradited to the US and charged for his role in the decades-long smuggling operation of Subhash Kapoor, a New York art dealer who specialised in looted antiquities from Central and SE Asia. 

https://www.occrp.org/en/daily/14880-us-charges-british-art-restorer-for-role-in-antiquities-trafficking-ring

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