On 1 March, a post from Corker Bining said that the UK Government has announced a dramatic change to the legislation that gives HM Treasury the power to impose monetary penalties for a failure to comply with an obligation under financial sanctions legislation (as well as for a breach of a sanctions prohibition). It is said further that, assuming that the Economic Crime (Transparency and Enforcement) Bill 2022 comes into force, this is a remarkably tough new test which ought to make banks and other professionals extremely wary of taking any risk in relation to sanctions targets.
Any modest contributions for my time and ongoing expenses are welcomed! I have a page where you can do so, and where one-off contributions start as low as $3, at https://www.buymea3coffee.com/KoIvM842y
raytodd.blog 