On 18 November 2024, a UK court fined English company EDM Limited £89,359.80 for export control rule violations, finding the company guilty on three counts
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UK Enforcement Agencies Crack Down on Financial Crime Control Failures, Sanctions Violations
On 2 October 2024, the FCA issued a final notice announcing it had fined digital challenger bank Starling Bank Limited £28,959,426 for financial crime and
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UK Announces New OTSI Civil Enforcement Powers on Trade Sanctions
On 12 September 2024, His Majesty’s Government (HMG) published the Trade, Aircraft and Shipping Sanctions (Civil Enforcement) Regulations 2024 (Regulations), introducing new civil enforcement powers
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OFSI Issues Licensing Guidance for Payments to Personal Staff of Designated Persons
The UK’s Office of Financial Sanctions Implementation (OFSI) has issued guidance on when payments can be made to personal staff of designated persons (DPs).[1]
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UK Announces New Office of Trade Sanctions Implementation
On 11 December 2023, His Majesty’s Government (HMG) announced that it will create a new unit – the Office of Trade Sanctions Implementation (OTSI) within
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UK Court of Appeal Expands Scope of ‘Control’ Under Russia Sanctions Regulations: ‘Mr Putin could be deemed to control everything in Russia’
In a judgment handed down on 6 October, a UK Court of Appeal (the Court) provided an obiter, or non-binding, ruling expanding the scope
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No Breach Too Small: OFSI Reports First Breach of UK’s Russian Sanctions Regulations
On 31 August 2023 the UK’s Office of Financial Sanctions Implementation (OFSI) issued a “Disclosure” against Wise Payments Limited, a UK-registered company, regulated by the
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OFSI Updates Guidance on Refusing Licences
HM Treasury announced 26 July that the UK’s Office of Financial Sanctions Implementation (OFSI) has amended Section 6.12, Refusal of a licence, of its UK
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UK Imposes New Russia Sanctions on 86 People and Companies, Including Metal and Diamond Industries
These sanctions have been revealed following an announcement by the leaders of the G7 at this week’s G7 summit where they pledged to take action against Russia and as far as possible restrict its revenue and ability to continue the war against Ukraine.
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New UK Sanctions Package Would Target Russia’s Arms Exports, Front-Line Resources
The UK announced a further round of sanctions and trade measures on 24 February 2023 to coincide with the first anniversary of Russia’s invasion of
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