The UK Appointed Representative Regime (ARR) enables certain businesses – Appointed Representatives (ARs) – to conduct UK-regulated activities without having to be authorised by the Financial Conduct Authority (FCA). Instead, a fully authorised firm (a Principal) accepts responsibility for the
The August 2022 issue of Greenberg Traurig’s Competition Currents is out, highlighting significant developments in global antitrust and competition law for clients and colleagues.
On 12 July 2022, the UK’s Office of Financial Sanctions Implementation (OFSI) and various other UK government agencies issued a red alert, in conjunction with the Joint Money Laundering Intelligence Taskforce (JMLIT), setting out various common evasion tactics and
From 19 July 2022, it is a violation of UK financial sanctions for any person who knows or has reasonable cause to suspect that they are carrying out, directly or indirectly, certain investment activity in Russia. These prohibitions follow the UK
The July 2022 issue of Greenberg Traurig’s Competition Currents is out, highlighting significant developments in global antitrust and competition law for clients and colleagues.
On June 29, the Russian Elites, Proxies, and Oligarchs (REPO) Task Force published a statement on its work in blocking or freezing sanctioned Russian assets. The pressure on businesses to ensure compliance with sanctions and sanctions-adjacent regulations and the cost
The UK Office of Financial Sanctions Implementation (OFSI) announced on 28 June that it imposed a £15,000 penalty on UK company Tracerco Limited for breaching financial sanctions. Tracerco was found to have made funds available for the benefit of a
On 15 June 2022, the UK Office of Financial Sanctions Implementation (OFSI) implemented important changes to its enforcement powers and updated its “Monetary Penalty” guidance. In summary, OFSI has introduced three key changes: 1) new strict liability standard; 2) publication
The June 2022 issue of Greenberg Traurig’s Competition Currents is out, highlighting significant developments in global antitrust and competition law for clients and colleagues.
On 9 May, the UK government announced it was targeting Russia and Belarus with a 35% increase in import tariffs to be imposed on precious metals, including platinum and palladium. It also announced a ban on exports, including chemicals, plastics,