PASSAGE OF NEW SANCTIONS LEGISLATION AND PUBLICATION OF UPDATED GUIDANCE

On 24 May 2018, it was announced that the Sanctions and Anti-Money Laundering Act (the “Act”) had received Royal Assent. The Act is the first piece of UK primary legislation governing the post-Brexit legal position and will create a post-Brexit framework for the imposition and enforcement of sanctions and the replication of the pre-Brexit anti-money laundering (“AML”) compliance regime. Continue reading

UK GOVERNMENT INTRODUCES NEW SANCTIONS AND ANTI-MONEY LAUNDERING BILL

On 19 October the UK Government published the text of a proposed new Sanctions and Anti-Money Laundering Bill (the “Bill”), which seeks to create a post-Brexit domestic legislative framework for the imposition and enforcement of sanctions. The introduction of the Bill follows the publication on 2 August of the Government’s response to the consultation on the UK’s future legal framework for sanctions (see our previous blog post).

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