Compliance Programs

On 8 September 2025, the UK’s Office of Financial Sanction Implementation (OFSI) published a Disclosure concerning breaches of Regulations 11 and 12 of the Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019 (Regulations) by UK-registered and Financial Conduct Authority-regulated Vanquis Bank Limited (VBL). This instance offers another example of OFSI’s emphasis on encouraging organisations to establish effective, robust, and appropriate compliance procedures, systems, and controls to mitigate the risk of violations.
Continue Reading UK OFSI Enforcement Underscores Need for Effective Sanctions Screening and Controls

In late 2024, the United Kingdom’s Financial Conduct Authority (FCA) published a “Dear CEO” letter related to the FCA’s “Custody and Fund Services Supervision Strategy.”…

Continue Reading UK FCA Letter Expresses Concerns About Fund Service Providers

On 6 November 2024, the UK government published its long-awaited Guidance for the new offence of failure to prevent fraud (FTP Fraud Offence), which will…

Continue Reading UK Failure to Prevent Fraud Offence Widens Net for Corporate Criminal Liability

The United Kingdom and United States announced in a joint statement on 17 October a new strategy to cooperate and collaborate further on economic sanctions…

Continue Reading UK and U.S. Announce ‘Enhanced Partnership’ on Economic Sanctions Implementation, Enforcement

On 15 June 2022, the UK Office of Financial Sanctions Implementation (OFSI) implemented important changes to its enforcement powers and updated its “Monetary Penalty” guidance.
Continue Reading New Era in UK Sanctions Enforcement: Introduction of Strict Liability Standard and OFSI Guidance Update

As of 20 July 2020, Phase 1 of the UK’s Industrial Energy Transformation Fund (IETF) is open for applications for grants, according to the Department

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Continue Reading UK’s Industrial Energy Transformation Fund Grants Now Available to Manufacturing Companies and Data Centre Operators