United States:
Updated Guidance on Monetary Penalties for Financial Sanctions Breaches Published by UK Office of Financial Sanctions Implementation
01 June 2018
Shearman & Sterling LLP
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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
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