Following the introduction of monetary penalties for financial sanctions breaches on 1 April 2017 (see previous blog), HM Treasury’s Office of Financial Sanctions Implementation (OFSI) has published guidance on the new provisions, and has responded to the consultation (see blog here). OFSI now has the power to impose penalties of up to £1million or 50% of the value of the breach, whichever is higher. The guidance and consultation response are here:
The form to report suspected sanctions breaches is here.
Maya Lester QC is a senior barrister (Queen’s Counsel) at Brick Court Chambers with a wide-ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. The legal directories say she is the...See profile for Maya Lester QC >