EU update - On July 21, 2022, the EU published its “maintenance and alignment” package of sanctions. This latest package seeks to tighten existing sanctions, perfect their implementation, and strengthen their effectiveness. ...more
Under a proposed new regime, UK financial regulators will be granted a range of powers over third parties that provide critical services to the finance sector.
Third parties will be designated as “critical” by HM Treasury...more
For some time the position under English law relating to the recovery of liquidated damages from a contractor as penalty for late delivery has been unclear where the contract terminates before the contractor completes the...more
EU introduces a sixth package of sanctions On 3 June 2022, the EU adopted a sixth package of sanctions against Russia which includes economic, individual, media and diplomatic measures....more
Does this signal the beginning of the end of the GDPR in the UK or simply a reframing of approach?
The UK Government has announced a new Data Reform Bill, part of a series of legislative changes aimed at obtaining a “Brexit...more
EU introduces a fifth package of measures - New asset freezes - On 8 April 2022, the EU published a fifth round of measures against Russia and Belarus. Spread across four regulations, the new measures include additional...more
UK DEVELOPMENTS - Further designations - On 10 March 2022, the UK Government added a further seven oligarchs to its list of sanctions targets, including the owner of Chelsea football club, Roman Abramovich. ...more
On February 27, 2022, the U.S., UK, and EU announced their agreement that certain Russian banks would be delisted from the Belgian-based Society for Worldwide Interbank Financial Telecommunication (SWIFT). ...more
3/8/2022
/ Delisting ,
Economic Sanctions ,
EU ,
Financial Institutions ,
Financial Transactions ,
Foreign Relations ,
General Licenses ,
Military Conflict ,
Russia ,
SWIFT ,
UK ,
Ukraine
The EU and UK have imposed additional export controls and sanctions with respect to Russia and Belarus connected to the Russian invasion of Ukraine. Below is a summary of key developments over recent days since our last blog...more
3/3/2022
/ Airspace ,
Asset Freeze ,
Belarus ,
Belarus Sanctions ,
Economic Sanctions ,
Export Controls ,
Foreign Relations ,
Proposed Legislation ,
Russia ,
UK ,
Ukraine
As the Russian invasion of Ukraine continues, the global pressure on the Putin regime intensifies with the EU issuing additional sanctions and export controls on Friday evening (February 25). The legislation implementing the...more
3/1/2022
/ Asset Freeze ,
Blocked Person ,
Economic Sanctions ,
EU ,
Export Controls ,
Exports ,
Financial Institutions ,
Foreign Policy ,
General Licenses ,
Office of Financial Sanctions Implementation (OFSI) ,
Russia ,
UK ,
Ukraine
The EU and UK have imposed further sanctions in response to the invasion of Ukraine and the recognition by Russia of the Donetsk and Luhansk People’s Republics (“DNR” and “LNR”) of Ukraine as independent territories....more
Despite months of posturing and growing geopolitical tensions, Russia’s full-scale invasion of Ukraine this week was a shock to the global community. Western leaders have been swift and unanimous in their response, condemning...more
2/28/2022
/ Anti-Money Laundering ,
Asset Freeze ,
Biden Administration ,
Bureau of Industry and Security (BIS) ,
ECCNs ,
Economic Sanctions ,
EU ,
Executive Orders ,
Export Administration Regulations (EAR) ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
UK ,
Ukraine
The EU takes a major step to expand sanctions on economically important companies and industrial groups, with twenty-two (22) individuals and four (4) entities now added to restrictive measures.
Those designated include...more
From February 21, 2022, the format of the UK Sanctions List and the UK Office of Financial Sanctions Implementation (OFSI) consolidated list will be different. Businesses must take steps to ensure their systems and processes...more
On December 8, 2021 the EU Commission published its proposal for a new “Anti-Coercion Instrument.” The regulation is being proposed in response to targeted deliberate economic pressures applied to the EU and its Member States...more
The European Data Protection Board (EDPB), the body which represents EU data protection authorities, has adopted guidelines (Guidelines) confirming when transfers need to be “safeguarded” in accordance with the GDPR (and...more
With artificial intelligence (AI) becoming more are more embedded in our everyday lives, there has been a corresponding need for regulations that foster AI development and adoption in a responsible manner. The question is how...more