The following Corporate Crime Q&A provides comprehensive and up to date legal information covering:
Financial sanctions in the UK may be imposed by the UN Security Council, through UN Security Council Resolutions. These are implemented in the EU through common positions and regulations, which have direct effect in the UK.
The Office of Financial Sanctions Implementation (OFSI) may also designate domestic (UK resident) individuals or entities as targets, usually under counter-terrorist financing legislation—see Terrorist Asset-Freezing etc Act 2010 (TAFA 2010). Therefore, in the UK, financial sanctions are set out in EU Regulations and UK Statutory Instruments.
For further information, see Practice Note: Understanding the sanctions regime—a guide for businesses [Archived].
Organisations and individuals should have a clear understanding of both financial and trade sanctions (where appropriate to their business) and be able to identify risks raised by particular customers, services, products and transactions in high risk jurisdictions.
HM Treasury, through the OFSI, administers and implements international financial sanctions in the UK and is responsible for domestic designations under TAFA 2010 and, post Brexit, the Sanctions and Anti-Money Laundering Act 2018 (SAMLA 2018). For further information, see Practice Note: Designation of sanctions targets under the UN sanctions, EU sanctions and UK terrorist asset-freezing regimes. It is also responsible for authorising licenses relating to financial sanctions, see Practice Note: Licences and Exemptions in Financial Sanctions. OFSI also provides regular guidance on compliance with sanctions and brings enforcement proceedings in the event of
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
This Practice Note examines the doctrine of consideration and the key role it plays in English law in determining whether a contract is enforceable.A promise will only be capable of being contractually enforced if it is either made in a deed or made in exchange for something of value, known as
Part 8 of the Corporation Tax Act 2009 (CTA 2009) is a specific corporation tax regime that applies exclusively to the gains and losses of intangible fixed assets. Note, however, that certain intangible fixed assets are excluded from the regime, see Practice Note: Excluded intangible fixed
This Practice Note looks at CE-File electronic working in the courts under CPR PD 51O, in the context of case management. It provides guidance on how to file a document electronically, deal with rejected electronic filings, issue a claim electronically, file electronic bundles (eBundles) for case
This Practice Note considers the doctrine of forum non conveniens, also referred to as the appropriate forum or the proper place for a dispute to be determined. This doctrine is of relevance when determining whether the courts of England and Wales have jurisdiction to hear a dispute and is applied
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.