In a world of ever increasing regulation, are there areas in trade finance documentation where parties can show they are addressing the concerns and taking steps to protect their position against a review by Regulators of what they are doing? This article looks at some areas where this might be possible. It looks at the position under English law and in light of current and future UK regulations.

Sanctions and the Anti-money Laundering Act 2018 -

This Act gives the UK Government broad powers to make sanctions regulations in a number of key areas. Sanctions could cover financial sanctions including asset freezing and trade restrictions. The good news is that the UK has agreed to keep within EU sanctions policy until 2020, except if the UK adopts new foreign policy before then. Brexit could make sanctions very different. This would, at the very least, increase compliance costs relating to additional sets of sanctions.

Originally published in Trade Finance in September 2018.