COMPLIANCE ETC: THINGS YOU MAY HAVE MISSED – MARCH 7

On 6 March, the US Congressional Research Service published a briefing paper on Panama –

https://crsreports.congress.gov/product/pdf/IF/IF10430

As I have said before, Panama does not often make the mainstream media in the UK. However, today saw an article in The Guardian about a man, jailed in what was then a truly awful prison in 2012, designed a recycling scheme so that prisoners at La Joyita, one of the country’s largest prisons, would collect, separate, recycle and sell waste; and their work would earn them reduced sentences. Prison authorities and even gang leaders cooperated, and the project at the prison proved a success – 10 years on, 500 prisoners are now involved. In 2016, the prisoner was granted a presidential pardon for his work and, on his release, he extended the scheme into a non-profit organisation, employing former inmates who collect waste in Panama City and turn it into compost. 

https://www.theguardian.com/global-development/2024/mar/07/la-joyita-jail-panama-prisoners-gangs-squalor-waste-recycling-ecosolidos-geoazul

7 MARCH 2024

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TRI-SEAL COMPLIANCE NOTE: OBLIGATIONS OF FOREIGN-BASED PERSONS TO COMPLY WITH US SANCTIONS AND EXPORT CONTROL LAWS

On 6 March, the DoJ, Department of Commerce, and OFAC, have issued this Note which says that companies outside of the US should be aware of how their activities may implicate US sanctions and export control laws.  This Note highlights the applicability of US sanctions and export control laws to persons and entities located abroad, as well as the enforcement mechanisms that are available for the US Government to hold non-US persons accountable for violations of such laws, including criminal prosecution.  It further provides an overview of compliance considerations for non-US companies and compliance measures to help mitigate their risk.

https://ofac.treasury.gov/media/932746/download?inline

IF YOU WOULD LIKE TO MAKE A (VERY) MODEST CONTRIBUTION FOR MY TIME AND COSTS, YOU CAN “BUY ME A COFFEE”- CONTRIBUTIONS START FROM $3 AT

https://www.buymeacoffee.com/KoIvM842y