Context
The OFSI and the FDCA have published an overview of the UK Government’s approach to enforcing breaches of UK sanctions. This follows the cross-government review of sanctions implementation and enforcement, which concluded that, ‘a cross-government strategy on enforcement will assist industry to understand the range of non-compliance and possible enforcement consequences’.
Key points to note
- The document sets out key enforcement principles, emphasises the importance of strong compliance and outlines the potential consequences of non-compliance.
- It also summarises the roles of key government departments, regulators and enforcement bodies.