COMPLIANCE ETC: THINGS YOU MAY HAVE MISSED – MAY 12

Only a few weeks after the end of the face-off at the large (and hugely profitable) copper mine in Panama, a strike there enters its second day. the dispute appears to be over the right to form associations, or to join a union, it appears.

Meanwhile, the drought continues, with a reported drop of up to 30% in water available from Lake Alajuela, which provides water to the water treatment plant that supplies Panama City. It is said that water levels is are 6.2 feet below the minimum level required (210 feet above sea level) to operate normally. it is reported that, usually, the rainy season really begins in the third or fourth week of April. This year, however, it is forecast for the third or fourth week of May. Today was another day with no rain (just the possible threat of it…).

12 MAY 2023

https://www.buymeacoffee.com/KoIvM842y

UK: OFSI NEW SANCTIONS GUIDANCE RE A LICENCE TO ACCESS FUNDS FOR TRAVEL EXPENSES AND ASSOCIATED COSTS

On 12 May, HM Treasury advised that the new guidance provides detail of how OFSI needs to consider the reasonable use of funds and economic resources, and a framework for what OFSI considers to be reasonable.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1156225/OFSI_Travel_Guidance.pdf

NEW YORK: PROPOSED GUIDANCE ON ASSESSMENT OF THE CHARACTER AND FITNESS OF DIRECTORS, SENIOR OFFICERS, AND MANAGERS

On 9 May, a news release from New York State advised that the New York State Department of Financial Services is issuing Proposed Guidance to New York State-regulated banking organisations and regulated non-depository financial institutions. 

https://www.dfs.ny.gov/industry_guidance/industry_letters/il20230509_guidance_assessment_fitness