On May 21, 2018, the Office of Financial Sanctions Implementation published an updated version of its guidance on monetary penalties for breaches of financial sanctions. The guidance was first published in April 2017. The update sets out more detail on OFSI's expectations around voluntary disclosure of breaches of financial sanctions. The chapter on the right of individuals to appeal to the Upper Tribunal has also been updated.

The updated guidance is available at:

https://assets.publishing.service.gov.uk/government/uploads/system/ uploads/attachment_data/file/708991/Monetary_Penalties_Guidance_web.pdf

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.