On 5 April 2016, HM Treasury updated the guide to the approach of the Office of Financial Sanctions Implementation (OFSI) to financial sanctions when it issues licences and considers compliance. The updated guide is not legal advice but simply a guide to the approach which the Office of Financial Sanctions Implementation (OFSI) takes when issuing […]

On 31 March 2016, HM Treasury announced that the Office of Financial Sanctions Implementation (“OFSI”) had officially been established. In their announcement, HM Treasury said: “OFSI will provide a high-quality service to the private sector, working closely with law enforcement to help ensure that financial sanctions are properly understood, implemented and enforced.” Chancellor George Osborne said: […]