OFSI UPDATED GUIDANCE ON ENFORCEMENT AND MONETARY PENALTIES FOR BREACHES OF FINANCIAL SANCTIONS NOW INCLUDES A SECTION ON OWNERSHIP AND CONTROL

On 16 March, the EU Sanctions blog reported that OFSI in the UK had issued updated guidance which now includes a section on ownership and control.  The guidance includes information on the due diligence efforts that OFSI may consider to be potentially mitigating.

https://www.europeansanctions.com/2023/03/ofsi-publishes-guidance-on-ownership-control/

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1143219/March_2023_Monetary_Penalty_and_Enforcement_Guidance.pdf

https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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