The United Kingdom export control authorities continue escalating sanctions and export controls in relation to Russia and Belarus. We have summarised below the key points from some of the most recent developments and provided...more
In a set of actions in coordination with G7 allies, US and UK export control authorities recently announced significant escalations of sanctions and export controls against Russia and Belarus. These actions indicate continued...more
A recent judgment by London’s Commercial Court has shed light on the effect of Russian sanctions on ongoing litigation in the United Kingdom (UK). The Sanctions and Anti-Money Laundering Act 2018 (SAMLA) provides the main...more
The following alert provides an update on recent sanctions developments including: 1. A £30,000 fine imposed for breaches of UK sanctions; 2. The expansion of the prohibition on providing professional services to persons...more
On Thursday 10 November 2022, the UK Office of Financial Sanctions Implementation (OFSI), published its 2021-2022 annual review, highlighting its shift towards a more proactive rather than reactive compliance and enforcement...more
The ability to maintain effective and accurate recordkeeping, a key method of ensuring market integrity, has been tested in recent years. The widespread use of personal mobile devices, instant messaging services, and general...more
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
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
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
BACKGROUND - Over the Easter weekend, it was reported by a number of media outlets that an 860-page report, apparently commissioned by senior Labour Party officials, had been leaked and was circulating widely online. The...more
Customer due diligence is a familiar phrase for many. But at a time when money laundering is estimated to represent between 2 - 5% of GDP globally, customer due diligence is set to change and the UK Government is at the...more
In this episode, we are flipping the script. Rosie Naylor in our London office plays podcast host and interviews partners Elisa D’Amico and Desiree Moore to address key questions on the minds of general counsels in the UK....more
4/30/2019
/ Best Practices ,
Business Development ,
Corporate Counsel ,
Crisis Management ,
Employee Training ,
In-House Perspective ,
Incident Response Plans ,
Internal Communications ,
Online Platforms ,
Policies and Procedures ,
Public Relations ,
Risk Mitigation ,
Social Media ,
UK
The Supreme Court by a majority of 8 to 3 has dismissed the Secretary of State’s appeal (Lord Neuberger, Lady Hale, Lord Mance, Lord Kerr, Lord Clarke, Lord Wilson, Lord Sumption and Lord Hodge in the majority with Lord Reed,...more