Cuba

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FinCrimes Update - Volume 1, Issue 3

On May 8, OFAC released enforcement information regarding “apparent violations” of the Cuban Assets Control Regulations by Canadian subsidiaries of a U.S. insurance company. The U.S. company self-reported 3,560 apparent...more

Insurance Company Resolves Apparent Cuba Sanctions Violations

On May 8, OFAC released enforcement information regarding “apparent violations” of the Cuban Assets Control Regulations by Canadian subsidiaries of a U.S. insurance company. The U.S. company self-reported 3,560 apparent...more

OFAC Announces $6 Million Settlement To Resolve Alleged Cuba Sanctions Violations

On April 18, OFAC announced that a privately held travel services provider based in the Netherlands but majority-owned by U.S. persons agreed to pay nearly $6 million to resolve allegations that over a roughly six-year period...more

European Subsidiary Incurs Liability Under U.S. Cuba Sanctions for Travel Services

On April 18, 2014, the Office of Foreign Assets Control (“OFAC”) announced a settlement of nearly $6 million with CWT B.V. (“CWT”) for violations of the Cuban Assets Control Regulations (“CACR”), 31 C.F.R. Part 515. CWT is a...more

Cuba Practice Update

Cuban Parliament Passes New Foreign Investment Law - On March 29, 2014, Cuba's 576-member National Assembly unanimously approved a measure designed to encourage foreigners to invest more than $2 billion a year in the...more

Cuba Practice Update

New National Poll Shows Broad Support for Overhaul of Cuba Policy - Akerman’s Pedro A. Freyre and Matthew D. Aho yesterday authored an opinion piece for the Washington D.C.-based Atlantic Council's Adrienne Arsht Latin...more

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