Gregoire P. Devaney

1 month ago | mondaq.com | Melissa Goldstein |John Nowak |Hannah Thibideau |Gregoire P. Devaney

On Jan.

Nov 17, 2024 | mondaq.com | Betty Santangelo |Melissa Goldstein |Gregoire P. Devaney |Ashley A. Bogdan

In recent weeks, the US Department of the Treasury's Office of Foreign Assets Control ("OFAC") has introduced an interim and a final rule amending its regulations with important implications for sanctions compliance programs. First, OFAC's general recordkeeping requirements under 31 C.F.R. § 501.601, as well as other provisions, will be extended from 5 years to 10 years, effective March 12, 2025.

Nov 12, 2024 | mondaq.com | Betty Santangelo |Melissa Goldstein |Gregoire P. Devaney |Noah Wright

On Oct. 10, 2024, the US Department of the Treasury's Office of Foreign Assets Control ("OFAC") issued guidance relating to the designation of the National Settlement Depository ("NSD") in response to recent actions taken by the Russian Federation to evade OFAC sanctions on the NSD.

Jun 13, 2024 | mondaq.com | Melissa Goldstein |Betty Santangelo |Gregoire P. Devaney

On April 24, 2024, President Joe Biden signed into law an emergency supplemental appropriations bill for foreign aid ("Supplemental Act"), which includes several sanctions-related provisions, such as the 21st Century Peace Through Strength Act ("21st Century Act"), which increases the statute of limitations for sanctions violations.

Apr 12, 2024 | mondaq.com | Melissa Goldstein |Betty Santangelo Esq |Anna Maleva-Otto |Gregoire P. Devaney

On March 6, 2024, the US Department of the Treasury's Office of Foreign Assets Control ("OFAC"), the US Department of Justice ("DOJ") and the US Department of Commerce (collectively, the "Agencies") published their latest in a series of Tri-Seal Compliance Notes in which they emphasized that foreign-based persons have an obligation to comply with US sanctions and export controls.1 The Compliance Note does not reflect any policy change, but serves as a reminder that the Agencies have enforced...