- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-12-13T17:19:00
The U.K. government is set to establish a new agency to enforce trade sanctions and provide compliance guidance to businesses regarding the country’s sanctions regimes.
The Office of Trade Sanctions Implementation (OTSI) is expected to be ready to enforce trade sanctions in 2024, said U.K. Industry and Economic Security Minister Nusrat Ghani in a speech delivered Monday.
“The office will build up our trade sanctions capability and make sure our sanctions regimes are as impactful as possible,” she said. “It will also crack down on companies that breach trade sanctions and so help to facilitate warmongers and tyrants to cling to power.”
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2023-11-22T16:08:00Z By Neil Hodge
U.K. companies might be wary of informing regulators they have potentially violated sanctions against Russia over fears they could be publicly criticized for even minor breaches.
2023-09-28T19:14:00Z By Neil Hodge
The recent decision by the U.K. Office of Financial Sanctions Implementation to disclose details of how Wise Payments failed to stop an individual from obtaining cash while subject to Russian sanctions has ignited debate about whether the agency is taking the right enforcement approach.
2023-08-31T15:09:00Z By Kyle Brasseur
U.K.-based foreign exchange service Wise Payments was cited for breaching the country’s sanctions levied against Russia as part of the Office of Financial Sanctions Implementation’s first use of its disclosure enforcement powers acquired last year.
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The Federal Trade Commission has ordered web hosting company GoDaddy to implement a “robust” information security program following at least three data breaches that the agency said were aided by lax cybersecurity measures.
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The U.S. Federal Trade Commission (FTC) took action against a pair of student loan debt relief companies for allegedly deceiving borrowers. The move came despite the Trump administration’s broader efforts to roll back enforcement actions against businesses since taking office.
2025-05-16T19:24:00Z By Oscar Gonzalez
After dismissing its lawsuit against the crypto exchange Coinbase in March, a second investigation into the exchange by the Securities and Exchange Commission has surfaced, according to a report from the New York Times. This comes as a bit of a surprise after the Trump administration has been scaling down ...
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