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Russia

New reporting requirements for Designated Persons under the Russia Regime

Posted by: , Posted on: - Categories: Compliance, Russia

In June 2023, the UK government announced that it would be introducing two new reporting measures. These are to strengthen transparency of frozen assets in the UK and assist HM Treasury in monitoring compliance with, and detecting evasion of, financial …

Trust Services Sanctions – 5 months on

Posted by: , Posted on: - Categories: Compliance, Enforcement, Financial Sanctions, Licensing, Russia, Uncategorized

The trust services sanctions came into effect on 16 December 2022. These are financial sanctions, for which the Office of Financial Sanctions Implementation (OFSI) is responsible, while the Department for Business and Trade is responsible for professional and business services …