Melissa Dames

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.