Licences and Exemptions in Financial Sanctions
Produced in partnership with Roger Matthews of Dentons
Licences and Exemptions in Financial Sanctions

The following Corporate Crime practice note produced in partnership with Roger Matthews of Dentons provides comprehensive and up to date legal information covering:

  • Licences and Exemptions in Financial Sanctions
  • Licences from HM Treasury (OFSI)
  • Which prohibitions may be exempted by an OFSI licence?
  • How is a licence from OFSI obtained?
  • What is covered by a licence from OFSI
  • Offences in relation to applications for licences

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: What does IP completion day mean for corporate crime?

This Practice Note describes the position on licences and exemptions in financial sanctions in the UK during the implementation period. As of exit day (11 pm on 31 January 2020) the UK is no longer an EU Member State. However, in accordance with the transitional arrangements provided in Part 4 of the Withdrawal Agreement, the UK has entered an implementation period. During this period, the UK continues to be treated by the EU as a Member State for many purposes, though it will not participate in the political institutions and governance structures of the EU (except to the extent agreed). The UK must continue to adhere to its obligations under EU law (including EU treaties, legislation, principles and international agreements), and submit to the continuing jurisdiction of the Court of Justice of the European Union, in accordance with the Withdrawal

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