Jamie Rogers

Hogan Lovells

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Latest Posts › Breach of Financial Sanctions

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From 15 June the UK sanctions regime will be moving to a strict liability test

From 15 June 2022 the Economic Crime (Transparency and Enforcement) Act 2022 will introduce changes to the enforcement of UK sanctions laws that parallel enforcement powers held by the Office of Foreign Assets Control...more

6/14/2022 / Breach of Financial Sanctions , Economic Sanctions , Export Controls , Exports , New Guidance , Office of Financial Sanctions Implementation (OFSI) , Office of Foreign Assets Control (OFAC) , Strict Liability

UK: OFSI flexes its muscles in imposition of first monetary penalty for breach of financial sanctions

Executive summary: On 21 January 2019, OFSI issued its first monetary penalty for a breach of financial sanctions, marking a significant development in the UK’s evolving sanctions enforcement landscape. ...more

3/4/2019 / Breach of Financial Sanctions , Civil Monetary Penalty , Economic Sanctions , Enforcement Actions , Enforcement Authority , Financial Services Industry , Office of Financial Sanctions Implementation (OFSI) , Policing and Crime Act 2017 , UK

UK: OFSI guidance published regarding monetary penalties for breaches of financial sanctions

The Policing and Crime Act 2017 (the “2017 Act“) came into effect on 1 April 2017, and introduced a number of changes, including new powers for the Office of Financial Sanctions Implementation (“OFSI“) to impose increased...more

4/12/2017 / Breach of Financial Sanctions , Civil Monetary Penalty , Economic Sanctions , Office of Financial Sanctions Implementation (OFSI) , Penalties , UK

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