By Aaron Nicodemus2024-05-02T15:06:00
Tucked deep inside the $95 billion foreign aid bill recently passed by Congress was a provision that escaped notice among talk of providing military assistance to U.S. allies Ukraine, Israel, and Taiwan.
The bill (H.R.815) included a change to U.S. sanctions law: Investigators from the Treasury Department’s Office of Foreign Assets Control (OFAC) can now look back 10 years to investigate potential violations of U.S. sanctions, rather than five years.
“It really is a big change that shows that Congress is focusing on the mechanics of sanctions, for better or worse,” said Laura Deegan, counsel at law firm Miller & Chevalier who was previously a sanctions regulations advisor in OFAC’s regulatory affairs division.
2024-06-12T02:35:00Z By Jeff Dale
Sanctions compliance officers face myriad challenges as complex geopolitical situations heighten risks worldwide, experts discussed during Compliance Week’s Third-Party Risk Management & Oversight Summit.
2024-05-08T20:47:00Z By Jeff Dale
The Financial Crimes Enforcement Network advised financial institutions in detecting illicit transactions related to Iran-backed terrorist organizations.
2024-04-22T16:49:00Z By Aaron Nicodemus
A subsidiary of Thailand-based SCG Chemicals Co. agreed to pay a $20 million fine to the Office of Foreign Assets Control over “egregious” violations of sanctions against Iran.
2025-07-09T19:15:00Z By Ruth Prickett
Will “taking an axe to” red tape and onerous reporting commitments free up trillions invested in U.K. pensions and increase the value of assets managed by regulated financial services firms?
2025-07-08T15:43:00Z By Oscar Gonzalez
The U.S. Department of Labor (DOL) appears to be in the process of deregulating work rules. Some of the changes proposed would result in a reduction of pay for certain health workers and allow minors to work hazardous jobs.
2025-07-07T17:15:00Z By Oscar Gonzalez
SEC Chair Paul Atkins pointed to the growth of tokenized shares as a key development reshaping private markets, suggesting the agency is preparing to update its rules to keep pace with new forms of digital asset trading and settlement.
Site powered by Webvision Cloud