Sanctions post Brexit

Sanctions post Brexit

The decision to leave the EU created an urgent need for a new mechanism for the implementation of financial and trade sanctions in the UK once Brexit takes place. The government conducted a public consultation on the UK’s future legal framework for imposing and implementing sanctions and last month the government published the Sanctions and Anti-Money Laundering Bill. As introduced, the Bill provides a whole new system for the implementation and enforcement of sanctions in the UK.

The 2 Hare Court Business Crime & Financial Services Group are holding a seminar, in conjunction with Lexis®PSL Corporate Crime on ‘Financial and Trade Sanctions: The New Landscape’ on 6 December 2017 at De Vere Holborn Bars. Gavin Irwin, barrister at 2 Hare Court, will review the significant changes to the Financial and Trade Sanctions regimes in United Kingdom in 2017. In particular, Gavin will offer an analysis of the new Sanctions and Anti-Money Laundering Bill and will highlight the challenges and opportunities posed to business by converging compliance regimes. To register, please visit 2 Hare Court Chambers’ website here.

Further Guidance

Our Practice Note: Development of sanctions regime in the UK post Brexit—timeline tracks the development of UK financial and trade sanctions policy since the beginning of 2017 and is designed to assist companies and those advising them to take a longer term view of their sanctions risk and exposure in order to help them to implement effective compliance programmes on the approach to, and after, Brexit. The Practice Note will also serve as a guide to the development of financial sanctions and trade sanctions policy over time.

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