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UK law firm compliance highlights: sanctions (Russia, trade and price cap), AML/CTF and PEPs, ECCTA reforms, data protection and cyber security, whistleblowing and modern slavery—24 October 2024

Published on: 24 October 2024

Published by a LexisNexis Practice Compliance expert
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In this issue

  • Financial sanctions
  • AML, CTF & counter-proliferation financing
  • Other financial crime
  • Data protection and cyber security
  • Other Practice
  • Compliance updates this week
  • Question of the week
  • Daily and weekly news alerts
  • Trackers
  • New and updated content
  • Latest Q&A

Financial sanctions

OFSI reports expiry of General Licence INT/2024/4919848

HM Treasury and the Office of Financial Sanctions Implementation (OFSI) have confirmed the expiry of General Licence INT/2024/4919848, which had authorised transactions with Russia’s National Settlement Depository. The licence has now been moved into the collection titled ‘Expired General Licences’. See: LNB News 23/10/2024 10.

OTSI issues information on navigating trade sanctions with OTSI's guidance

The Office of Trade Sanctions Implementation (OTSI) recognises the complexities of trade sanctions and reiterates its aim to help UK businesses navigate them effectively. Its recent blog highlights guidance available on the OTSI website, covering its enforcement approach, monetary penalties and routes to appeal, mandatory reporting, information requests, reporting suspected breaches, and applications for trade sanctions licences. See: LNB News 21/10/2024 24...

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