On 2 May 2019, the U.S. Treasury's Office of Foreign Assets Control ("OFAC"), the agency responsible for enforcing economic sanctions, published "A Framework for OFAC Compliance Commitments" (the "Framework") which outlines...more
7/3/2019
/ Cooperative Compliance Regime ,
Economic Sanctions ,
Failure to Comply ,
Foreign Policy ,
Foreign Relations ,
Framework Agreement ,
Fund Managers ,
Internal Controls ,
Investment Funds ,
Investment Management ,
Office of Foreign Assets Control (OFAC) ,
Private Equity ,
Risk Assessment ,
Sanction Violations
A number of very significant changes are being made to the UK anti-money laundering regime.
Of particular interest to the private equity industry will be the proposed new criminal offence of failure to prevent the...more
1/30/2017
/ AML/CFT ,
Banking Sector ,
Money Laundering ,
National Crime Agency (NCA) ,
Private Equity ,
Proceeds of Crime Act 2002 (POCA) ,
Risk Assessment ,
Suspicious Activity Reports (SARs) ,
Tax Evasion ,
UK ,
UK Bribery Act