OFAC – all persons subject to US jurisdiction must comply with reporting requirements

OFAC has published 2 new FAQs relating to the July 2019 amendments to the Reporting, Procedures and Penalties Regulations (RPPR), which revised the reporting and recordkeeping requirements for those holding blocked assets, see post. FAQ 819 clarifies that all US persons and those subject to the US jurisdiction, including parties that are not US financial institutions, are expected to comply …

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About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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