OFAC Issues Guidelines For Enforcing Sanctions Laws

Law360, New York (November 10, 2009, 4:13 PM EST) -- The U.S. Treasury Department's Office of Foreign Assets Control has issued new guidelines on the enforcement of economic sanctions against foreign countries, outlining disclosure requirements and possible penalties for companies subject to economic sanctions laws.

OFAC, which is responsible for administering U.S. economic sanctions programs against other nations, announced the new guidelines Monday in the Federal Register, the same day they took effect.

Under the guidelines, if OFAC finds a company or person is engaging in conduct that might violate a federal sanctions law but cannot...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.