Chris Ladusans

1 month ago | mondaq.com | Sean Curran |Chris Ladusans |Ashley Collins

Executive Summary This edition of our Enforcement Newsletter highlights significant developments across the spectrum of economic crime enforcement relating to the Serious Fraud Office (SFO), the Office of Trade Sanctions Implementation (OTSI), and the Financial Conduct Authority (FCA): Political developments affecting the UK enforcement landscape The SFO's first Unexplained Wealth Order The Court of Appeal's dismissal of Anzhelika Khan's sanctions delisting challenge New guidance from OTSI on...

Sep 26, 2024 | mondaq.com | Kathleen Harris |Sean Curran |Melissa Dames |Chris Ladusans

It has been nine months since the creation of the UK Office of Trade Sanctions Implementation (OTSI) was announced, as a sister regulator to the Office of Financial Sanctions Implementation (OFSI), dealing with trade sanctions breaches. However, it has only been in recent weeks that the parameters for the operation of OTSI have been made public, with the Trade, Aircraft and Shipping Sanctions (Civil Enforcement) Regulations 2024 (TASS) being laid before Parliament.

Jul 30, 2024 | wilmerhale.com | Alice Lepeuple |Chris Ladusans

In this case note for Lloyd’s Law Reports, Alice Lepeuple and Chris Ladusans analyze the Court of Appeal’s recent decision in Celestial v. Unicredit, and its implications for how parties should manage their duties to comply with international sanctions laws alongside their commercial obligations under letters of credit.

Jul 26, 2024 | wilmerhale.com | Neena Shenai |Barry Hurewitz |Richard Burger |Christopher Cestaro |Leslie Harrelson |Lindsey A. Ricchi | +2 more

Summary On July 10, 2024, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) released new guidance (the “July 10 Release”) outlining different types of precautionary letters (“supplier list” letters, “Project Guardian” requests, “red flag” letters, and “is informed” letters) that BIS may send to “companies and universities” to notify them of “parties of national security concern, such as those that present a risk of diverting [Export Administration Regulations (“EAR”)]...

Jun 28, 2024 | wilmerhale.com | Neena Shenai |Barry Hurewitz |Richard Burger |ric Louis |Lester Ross |Zachary K. Goldman | +7 more

In conjunction with the Group of Seven (G7) leaders meeting in Italy earlier this month, key jurisdictions issued the latest in a series of coordinated economic restrictions on Russia in light of its invasion of Ukraine in February 2022. The United States unveiled a sweeping series of sanctions and export controls to further curtail economic activity with Russia and Belarus, with notable impacts on information technology (IT) services, and foreign financial institutions, among others.