On 8 May 2025, the United Kingdom’s Office of Financial Sanctions Implementation (OFSI) of HM Treasury published a penalty notice regarding a breach of financial sanctions by a UK registered company—Svarog Shipping & Trading...more
5/30/2025
/ Compliance ,
Economic Sanctions ,
Enforcement Actions ,
Financial Crimes ,
Financial Institutions ,
Government Agencies ,
Office of Financial Sanctions Implementation (OFSI) ,
Penalties ,
Reporting Requirements ,
Request For Information ,
UK
In a bid to further increase the pressure on Russia, the Council of the European Union has adopted additional measures which have been introduced in its 16th sanctions package. The new measures amending the framework Council...more
The United Kingdom’s Office of Financial Sanctions Implementation (OFSI) has published a report detailing suspected breaches of UK financial sanctions involving UK property and related services firms since February 2022 and...more
4/28/2025
/ Anti-Money Laundering ,
Beneficial Owner ,
Economic Sanctions ,
Landlords ,
Money Laundering ,
Office of Financial Sanctions Implementation (OFSI) ,
Property Owners ,
Real Estate Transactions ,
Reporting Requirements ,
Suspicious Activity Reports (SARs) ,
UK
In its first-ever threat assessment of the UK legal sector, the UK’s Office of Financial Sanctions Implementation (OFSI) has raised red flags with regards to suspected sanctions breaches involving UK legal services providers...more
On 13 February 2025, the Office of Financial Sanctions Implementation (OFSI) published its assessment of suspected sanctions breaches involving financial services firms since February 2022 (the Assessment). The Assessment...more
On 24 February 2025, the European Union adopted the 16th Russia sanctions package. The new measures amending the framework Council Regulation (EU) 833/2014 are found and included in Council Regulation (EU) 2025/395. They...more
On 24 June 2024, the European Union (EU) implemented its 14th package of sanctions against Russia to combat its continued aggression against Ukraine. A notable addition was made to Article 8a of Council Regulation (EU) No...more
On 24 June 2024, the European Union (EU) implemented its 14th package of sanctions against Russia to combat its continued aggression against Ukraine. The package introduced new anti-circumvention measures to strengthen...more
On 18 September 2024, the General Court of the European Union (General Court) largely upheld the fine imposed by the European Commission (Commission) finding that a global tech company had engaged in predatory pricing of its...more
10/28/2024
/ Antitrust Provisions ,
Artificial Intelligence ,
Competition ,
Economic Sanctions ,
Energy Sector ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
European Supervisory Authorities (ESAs) ,
Financial Markets ,
Financial Services Industry ,
Popular ,
Regulatory Oversight ,
Sustainable Finance ,
Treaty on the Functioning of the European Union (TFEU) ,
Unfair or Deceptive Trade Practices
On 24 September 2024, the G7 released updated guidance on the prevention of evasion of export controls and sanctions imposed on Russia. The aim of the guidance is to “assist industry in identifying Russian evasion practices...more
On 12 September 2024, the UK government released the new Trade, Aircraft and Shipping Sanctions (Civil Enforcement) Regulations 2024 (the Regulations), which will come into force on 10 October 2024. The Regulations grant the...more
The Impact of the EU and UK Russian Sanctions Regime on the Luxury Goods Sector - As the EU and UK Russian sanctions regimes continue to evolve, export controls are now affecting industries previously not often subject to...more
Antitrust and Competition - The European Commission to Take Action to Address Territorial Supply Constraints - On 24 May 2024, the EU Commissioner for Competition, Margrethe Vestager, announced that the European Commission...more
7/29/2024
/ Competition ,
Cross-Border ,
Economic Sanctions ,
Electric Vehicles ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Institutions ,
Financial Services Industry ,
Imports ,
Innovative Technology ,
Manufacturers ,
Member State ,
Non-Bank Lenders ,
Regulatory Oversight ,
Sustainability ,
Trade Relations
The European Union has again amended its sanctions against Russia and Belarus by adopting further legal acts, which put additional compliance obligations on EU companies. In particular, businesses will now have to undertake...more
7/25/2024
/ Asset Freeze ,
Belarus ,
Compliance ,
Economic Sanctions ,
EU ,
European Commission ,
Export Controls ,
Exports ,
Imports ,
Liquid Natural Gas ,
Russia ,
Travel Ban
Antitrust and Competition - The European Commission Approves Plan to Unwind a Completed Transaction in the Early Cancer Detection Sector - On 12 April 2024, the European Commission (Commission) approved the plan to unwind a...more
6/7/2024
/ Digital Services ,
Economic Sanctions ,
Energy Sector ,
Environmental Social & Governance (ESG) ,
EU ,
EUMR ,
European Commission ,
Financial Services Industry ,
Fossil Fuel ,
Investment ,
Member State ,
Mergers ,
Methane ,
Online Marketplace ,
Online Platforms ,
Popular ,
Retail ,
Risk Assessment ,
Risk Mitigation ,
Sustainability ,
Sustainable Business Practices
Antitrust and Competition - European Commission Charges Company with Providing Incorrect, Incomplete, and Misleading Information During a Merger Control Proceeding - On 19 March 2024, the European Commission (Commission) sent...more
5/17/2024
/ Animal Health ,
Biologics ,
Capital Markets ,
Competition ,
Economic Sanctions ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Financial Services Industry ,
Hazardous Substances ,
Human Rights ,
Investigations ,
Manufacturers ,
Merger Controls ,
Mergers ,
Misleading Statements ,
PFAS ,
Popular ,
Regulatory Oversight ,
Risk Assessment ,
Russia ,
Sustainability ,
Whistleblowers
The following alert provides an update on recent sanctions developments, including: The publication of the UK government’s first sanctions strategy. The announcement of over 50 new sanctions. Measures to strengthen the Oil...more
4/12/2024
/ Asset Freeze ,
Economic Sanctions ,
EU ,
Export Controls ,
Exports ,
Imports ,
New Regulations ,
Oil & Gas ,
Regulatory Oversight ,
Russia ,
Sanctions and Anti-Money Laundering Act 2018 (SAMLA) ,
Trade Relations ,
UK
Antitrust and Competition - The European Commission Fines Apple EUR 1.8 billion for Abusing Its Dominant Position in the Music Streaming Sector - On 4 March 2024, the European Commission (Commission) fined Apple EUR 1.8...more
3/29/2024
/ Anti-Competitive ,
Antitrust Provisions ,
Apple ,
Artificial Intelligence ,
Competition ,
Cyber Threats ,
Cybersecurity ,
Economic Sanctions ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Fund Managers ,
Importers ,
Investment Funds ,
Machine Learning ,
Manufacturers ,
Member State ,
Small and Medium-Sized Enterprises (SMEs) ,
Sustainability ,
Treaty on the Functioning of the European Union (TFEU)
Antitrust and Competition - The European Court of Justice Held Rules Set by Sports Governing Bodies Must Comply With EU Competition Law - On 21 December 2023, the European Court of Justice (ECJ) held in a preliminary ruling...more
2/13/2024
/ Competition ,
Corporate Social Responsibility ,
Digital Services ,
Economic Sanctions ,
Electricity ,
Energy Sector ,
EU ,
European Commission ,
European Court of Justice (ECJ) ,
Fédération Internationale de Football Association (FIFA) ,
Financial Services Industry ,
Insurance Industry ,
Member State ,
Online Platforms ,
Penalties ,
Regulatory Requirements ,
Sports ,
Sustainability ,
Treaty on the Functioning of the European Union (TFEU)
Antitrust and Competition - European Commission Approves Consolidation in the Ground Transportation Sector Subject to Remedies - The companies are two global suppliers of signalling systems for mainline and urban railway...more
12/7/2023
/ Big Tech ,
Competition ,
Court of Justice of the European Union (CJEU) ,
Economic Sanctions ,
EU ,
European Commission ,
Financial Services Industry ,
Foreign Direct Investment ,
Foreign Investment ,
Member State ,
Online Platforms ,
Payment Systems ,
Popular ,
Public Policy ,
Railways ,
Reporting Requirements ,
Sustainability ,
Transportation Industry ,
UK Competition and Markets Authority (CMA)
ANTITRUST AND COMPETITION - The European Commission’s Merger Simplification Package Enters Into Force - On 20 April 2023, the European Commission (Commission) adopted a new legislative package that entered into force on 1...more
10/2/2023
/ Antitrust Provisions ,
Competition ,
Court of Justice of the European Union (CJEU) ,
Digital Marketplace ,
Economic Sanctions ,
EU ,
European Commission ,
Financial Services Industry ,
General Data Protection Regulation (GDPR) ,
Investment Funds ,
Mergers ,
Regulatory Oversight ,
Reporting Requirements ,
Sustainability
ANTITRUST AND COMPETITION - The European Commission Reviews Its Informal Guidance Notice - On 24 May 2022, the European Commission (Commission) launched a public consultation to gather feedback from interested parties on the...more
7/20/2022
/ Antitrust Provisions ,
Artificial Intelligence ,
Child Abuse ,
Climate Change ,
Competition ,
Cybersecurity ,
Economic Sanctions ,
EU ,
European Banking Authority (EBA) ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Services Industry ,
Internet Service Providers (ISPs) ,
Lenders ,
Mergers ,
Online Platforms ,
Treaty on the Functioning of the European Union (TFEU) ,
UCITS ,
Vertical Block Exemption Regulation (VBER)
BACKGROUND AND OVERVIEW - In the last few weeks, the European Union has adopted measures to react to the Russian invasion of Ukraine. These new sanctions are in addition to the restrictive measures already imposed by the...more