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UK/EU practice compliance weekly: sanctions and financial crime, data protection and AI, cybersecurity, SRA complaints survey, Employment Rights Bill, DEI, trackers and guidance (6 February 2025)

Published on: 06 February 2025

Published by a LexisNexis Practice Compliance expert
Legal News
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Article summary

In this issue:

  • Financial sanctions
  • Other financial crime
  • Data protection
  • Cybersecurity
  • Other practice compliance updates
  • LexTalk®Practice Compliance: a Lexis®Nexis community
  • Daily and weekly news alerts
  • Trackers
  • New and updated content

Financial sanctions

OFSI updates commodity code for ‘premium to crude’ in oil price cap guidance

The Office of Financial Sanctions has revised the combined nomenclature/harmonised system commodity code for ‘premium to crude’ within the UK maritime services ban and oil price cap industry guidance. The entry changes from 2710 19 43 to 2710 19 42 with effect from 29 January 2025, supporting accurate categorisation of oil products under the UK’s sanctions on Russian oil. See: LNB News 30/01/2025 13.

OFSI’s ‘troubling’ licensing regime dents sanctions win

Law360, London reports the government’s process for authorising basic living expenses for designated individuals was slow and ‘troubling’, leaving an oligarch’s wife to choose between breaching the law and feeding her children; however, the Court of Appeal still held the regime to be lawful. See News Analysis: OFSI’s ‘troubling’ licensing regime dents sanctions win.

Other financial crime

FATF publishes 2023–2024 annual report

The Financial Action Task Force has released its 2023–2024 annual report, highlighting significant progress...

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