The Office of Financial Sanctions Implementation (OFSI) has published an updated version of its guidance on financial sanctions. Among other things, OFSI has amended the guidance to clarify its existing position on organisations owned or controlled by those subject to financial sanctions, as well as the process for obtaining a licence. OFSI also notes that it will continue to work with industry bodies to develop its guidance so that it is responsive to what businesses, and the public and charitable sectors need.

View OFSI updates financial sanctions guidance: aspects of interest to financial services, 8 August 2017