By Aaron Nicodemus2024-07-24T15:50:00
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control (OFAC) are now required to do so by Aug. 2.
According to a new reporting requirement for the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act ( REPO for Ukrainians Act), financial institutions that have newly discovered or obtained Russian sovereign assets must report them to OFAC by Aug. 2, or within 10 days of the detection of the assets, the agency said Tuesday in a press release.
Reports on Russian sovereign assets can be made using OFAC’s new form.
2024-07-29T14:41:00Z By Aaron Nicodemus
State Street Bank & Trust Co. will pay a $7.5 million fine to settle allegations by the Treasury Department’s Office of Foreign Assets Control that a subsidiary violated sanctions against Russia.
2024-05-15T20:56:00Z By Adrianne Appel
Three Russia-based companies and an individual were designated by the U.S. Treasury Department for trying to recapture more than $1.5 billion in frozen shares owned by a previously sanctioned Russian oligarch using a complex evasion scheme.
2024-04-15T15:38:00Z By Jeff Dale
The U.S. Treasury Department, in coordination with the United Kingdom, is clamping down harder on Russia’s ability to wage war against Ukraine by banning the import of Russian-origin aluminum, copper, and nickel.
2025-09-10T23:26:00Z By Ruth Prickett
Delays to the U.K.’s Audit Reform and Corporate Governance Bill and creation of the ARGA regulator have sparked criticism. On Sept. 8, 66 MPs sent a letter to the Prime Minister urging reforms be returned to the Parliamentary agenda.
2025-09-08T05:00:00Z By Oscar Gonzalez
The FTC officially withdrew its appeal in a federal court case over its ban on employer noncompete clauses that it passed last year. The agency, however, says it wants public input regarding the effects of employer noncompete agreements.
2025-09-05T18:42:00Z By Adrianne Appel
The Department of Health and Human Services is stepping up its enforcement against hospitals and other health entities that block the sharing of electronic health records.
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