On 17 May 2022 the UK Financial Conduct Authority (FCA) made an appeal for people to report to it regarding firms on the Financial Services Register or other FCA registers, or companies with UK listed securities that have...more
On Wednesday 4 May, Foreign Secretary Liz Truss announced a ban on the export of services by UK persons or entities to businesses in Russia. Prohibited services include accountancy, management consultancy, and public...more
The U.S. lumber market has seen unprecedented price rises in recent years. Prices could climb even higher as the world responds to the conflict between Russia and Ukraine. Russia is a major exporter of wood in the global...more
5/24/2022
/ Economic Sanctions ,
Exports ,
Forestry ,
Imports ,
Lumber Industry ,
Natural Resources ,
Popular ,
Purchase Price ,
Russia ,
Supply Chain ,
Timber
Russia’s invasion of Ukraine and subsequent revelations of alleged atrocities in territories previously controlled by Russia have had a global impact. Dozens of foreign countries (States) have imposed a wide variety of...more
4/20/2022
/ Blocking Sanctions ,
Economic Sanctions ,
EU ,
Financial Transactions ,
Foreign Investment ,
Foreign Policy ,
Popular ,
Russia ,
SDN List ,
Trade Restrictions ,
UK ,
Ukraine
What is it? On 15 March 2022 the Economic Crime (Transparency and Enforcement) Act 2022 (the Act) received royal assent, having been expedited through parliament as part of the United Kingdom’s response to Russia’s invasion...more
As the Financial Conduct Authority (FCA) attempted to mitigate the effect of COVID-19 on consumers and the market, enforcement investigations and action slowed. ...more
The invasion of Ukraine by Russia has pushed forward a wider government agenda to encourage transparency in relation to how overseas entities own UK real estate. We first reported many years ago on the details of the...more
3/25/2022
/ Beneficial Owner ,
Foreign Investment ,
Land Registries ,
New Legislation ,
Person with Significant Control (PSC Register) ,
Real Estate Investments ,
Real Estate Market ,
Russia ,
Transparency ,
UK ,
Ukraine
Regulators across the globe have this week stepped up their messaging in relation to sanctions on cryptocurrency. This comes in the wake of pleas from Ukraine’s minister of digital transformation via Twitter on Sunday for...more
The UK Government has recently introduced the Economic Crime (Transparency and Enforcement) Bill 2022 (the Bill). Amongst other objectives, the Bill proposes the setting up of a register of overseas entities and their...more
3/8/2022
/ Anti-Money Laundering ,
Beneficial Owner ,
Choice of Entity ,
Financial Crimes ,
Foreign Ownership ,
Foreign-Owned Corporations ,
Land Registries ,
Property Owners ,
Real Estate Investments ,
Real Estate Transactions ,
Registration Requirement ,
Shareholders ,
Transparency ,
UK
The UK Government has announced sanctions and export controls against Russia that are in addition to those imposed on 22 February 2022. This escalation of sanctions is in response to Russia’s military advance into Ukraine on...more
On 21 February, the UK Office of Financial Sanctions Implementation (OFSI) announced that it has fined Clear Junction Limited (Clear Junction) £36,393.45 in relation to transactions Clear Junction made to accounts held at the...more
The UK Office of Financial Sanctions Implementation (OFSI) of HM Treasury (HMT) published its annual review for 2020 to 2021 on 14 October 2021. The annual review covers a period in which OFSI moved from implementing an EU...more
Global Anti-Corruption Sanctions Regulation 2021 - On 26 April 2021, Foreign Secretary Dominic Raab announced the United Kingdom’s first sanctions under the new Global Anti-Corruption Sanctions Regulation 2021 (the...more