Overview
Financial Crime Digest quoted Alexandra Melia on OFSI’s use of its new settlement mechanism in a UK sanctions enforcement action, highlighting compliance expectations and the reach of UK sanctions over non-UK companies with UK touchpoints.
Speaking to Financial Crime Digest about how these expectations are much further-reaching than just UK-based companies, Alexandra reminds readers that “OFSI guidance…may include use of clearing services in the UK, actions by a local subsidiary of a UK company (depending on the governance), action taking place overseas but directed from within the UK, or financial products or insurance bought on UK markets but held or used overseas.”
Read the full article in Aperio [subscription required].
