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Articles

The New U.K. and E.U. Global Human Rights Sanctions Regimes

February 3, 2021
By: Benoit Beaulieu, Content Writer, ACSS

From the global pandemic, the Black Lives Matter movement, documented atrocities in Xinjiang and Myanmar, to repression in Hong Kong and Belarus, 2020 was a year that was unfortunately scarred by human rights violations and abuses. Accordingly, there has been incredible pressure for governments the world over to adequately respond and prevent human rights abuses, with sanction regimes being one of the most important tools at their disposal to do so. (more…)

British Sanctions Roundup: Brexit, OFSI, and the New UK Sanctions Landscape

January 24, 2021
By: Benoit Beaulieu, Content Writer, ACSS

With negotiations between the U.K. and E.U. coming to a head just in the nick of time, members of the European business community eagerly await how the new Brexit deal may impact trade, finance, and sanctions regulations in the coming year. From a sanctions perspective, much has already been deliberated and decided upon already. Consequently, there are a number of assumptions that sanctions professionals can make and use to ease the Brexit transition, regardless of whether a deal is made or not. (more…)

The U.K.’s Global Human Rights Sanctions Regulations 2020 and the U.K.’s first steps as an autonomous International Sanctioning Body

October 8, 2020
By: Daniel Martin, Partner, HFW*

Earlier this summer, having left the E.U. in January, the U.K. took its first steps as a fully autonomous sanctions body. The U.K. has always been a leading state in the implementation and enforcement of sanctions, in many respects second only to the U.S. Even before the E.U. referendum, the U.K. was already taking steps to increase its global sanctions credentials and strengthen the Government's sanctions machinery, for example through the creation of the Office of Financial Sanctions Implementation ('OFSI') in 2016. (more…)

UK Enforcement Update: OFSI Shows its Teeth as Penalties for Sanctions Violations Jump into the Millions

July 18, 2020
By: Daniel Martin, Partner, HFW*

After a slow start, the U.K. sanctions authority - The Office of Financial Sanctions Implementation (OFSI) - has now begun to show its teeth. However, having seen the size of the penalties imposed by OFAC in the last ten years, sanctions compliance suites should not be at all surprised to see the U.K. now taking a leaf out of the U.S. sanctions enforcement book. (more…)

OFSI’s New Teeth: Sanctions in the Wake of ‘Brexit’ and Actions Taken by the UK Regulator (So Far)

February 27, 2020 By: Anna Sayre, CSS, Director of Content at ACSS

On January 31, 2020, the U.K. Parliament finally cut ties from the E.U. after two years of grueling debates and discussions in Brussels, signaling a chance for Britain to break away from the E.U. sanctions that it has most dutifully applied for decades. Though itis almost certain that the U.K. will continue to apply most E.U sanctions, it is also looking likely that the U.K. will instill a new sanctions regime of its own, perhaps more closely matching that of its American cousin across the pond.

(more…)

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