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.
2025-08-01T22:31:00Z By Oscar Gonzalez
The Securities and Exchange Commission is taking its pro-crypto messaging on the road, planning a series of events for its Crypto Task Force that will be held across the U.S. starting on Aug. 4.
2025-08-01T20:07:00Z By Aly McDevitt
The DOJ is warning that simply scrubbing DEI-related words from policy documents or training materials—and replacing them with thinly veiled proxies—will not protect federally funded organizations from legal scrutiny.
2025-07-31T20:37:00Z By Neil Hodge
When growth slows, governments often cut rules to attract investment, as the U.K. has in its financial services sector, which contributes 8.8% of GDP, but easing the “compliance burden” raises concerns about oversight, governance, and prioritizing profits over safety.
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