The event will include presentations on OFAC regulations affecting all U.S. persons, as well as targeted reviews of sanctions concerns for new and updated OFAC programs.… Continue Reading
The Securities and Exchange Commission said Tuesday that oil services company Weatherford International paid a $140 million penalty to settle charges that it inflated earnings by using deceptive income tax accounting. … Continue Reading
The Treasury Department’s Office of Foreign Assets Control said Tuesday PanAmerican Seed Co. paid $4.32 million to settle potential civil liability for Iran sanctions violations.
OFAC settled the case without going to court.… Continue Reading
The U.S. Department of the Treasury’s Office of Foreign Assets Control amended the Burmese Sanctions Regulations Tuesday to support trade with Burma.
The new regulations will make it easier for U.S.… Continue Reading
The Treasury Department’s Office of Foreign Assets Control published a new set of questions and answers Thursday about the sanctions on Cuba. OFAC’s answers will surprise a lot of people.
President Obama announced a lifting of sanctions in late 2014.… Continue Reading
The Treasury Department’s Office of Foreign Assets Control added four Russians and a Ukrainian to its list of those sanctioned under the Magnitsky Act for alleged human rights abuses.
With the names added Monday, OFAC has now listed 39 people subject to travel bans and asset freezes under the Magnitsky Act.… Continue Reading
If you’re a U.S. company — unless you’re a food, medicine/medical supplies, or civil aircraft/parts supplier — you still cannot have anything to do with Iran, even after the so-called lifting of sanctions as part of the nuclear accord known as the Joint Comprehensive Plan of Action.… Continue Reading
The U.S. Treasury Department’s Office of Foreign Assets Control imposed new sanctions Sunday against eleven people and companies allegedly involved in Iran’s ballistic missile program. The action came one day after President Obama lifted sanctions on Iran’s nuclear program and hours after a prisoner swap between Washington and Tehran.… Continue Reading
Federal and New York authorities said Wednesday that Deutsche Bank will pay $258 million and fire six senior employees to resolve investigations into thousands of illegal transactions with customers in Iran, Libya, Syria, Myanmar, and Sudan.… Continue Reading
The Treasury Department’s Office of Foreign Assets Control (OFAC) has amended the Cuba sanctions regulations for the second time this year. … Continue Reading
The 2015 OFAC Fall Symposium will be held in Washington, DC on September 22, 2015.
The symposium will provide a comprehensive review of current U.S. economic sanctions.
It will include presentations on OFAC regulations, as well as targeted reviews of sanctions concerns for new and updated OFAC-administered programs.… Continue Reading