- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Businesses looking to do business in Cuba will have a new regulatory approach to navigate. Business opportunities opened under the Obama administration face new restrictions under President Trump.
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The Treasury Department’s Office of Foreign Assets Control announced amendments to the Cuban Assets Control Regulations to further implement President Trump’s June 2017 National Security Presidential Memorandum.
Swiss-based global private banking group EFG International agreed to pay more than $3.7 million as part of a settlement with the Office of Foreign Assets Control addressing apparent violations of U.S. sanctions against Cuba and two blocked individuals.
DaVinci Payments, a financial services firm which manages prepaid reward card programs, agreed to pay approximately $206,000 as part of a settlement with the Office of Foreign Assets Control addressing alleged sanctions violations across four countries.
