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- HMRC names subject of compound penalty for the first time: On 29 June 2026, HM Revenue & Customs announced that Petrofac Facilities Management Limited ("PFML") had paid a compound settlement of £569,157.07 for offences under the Russia (Sanctions) (EU Exit) Regulations 2019. This is the first time that a party paying a compound penalty for sanctions or export control violations has been named by HMRC. (Notice to exporters 2026/15) Please see our alert on this here: HMRC Names Subject of Compound Penalty for the First Time | Insights | Mayer Brown
- OFSI publishes responses to call for evidence: On 30 June 2026, OFSI published the responses it received to its call for evidence regarding the ownership and control test in UK financial sanctions regulations. Respondents reported the practical issues in the hypothetical control test. For example, respondents report that costs increase when there is need to make assessments on limited information. This includes enhanced due diligence, engaging external legal advice and delaying or escalating business decisions for senior review. The policy review remains ongoing. (Ownership and control: insights from the call for evidence)
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