Guidance

Financial sanctions: guidance, FAQs and information on monetary penalties

Information on the approach OFSI takes to financial sanctions and monetary penalties for breaches in financial sanctions.

Published 29 May 2013
Last updated 5 March 2018 — see all updates
From:
HM Treasury and Office of Financial Sanctions Implementation

Documents

Details

The general guidance document includes:

  • information regarding:
    • businesses’ obligations to financial sanctions policy
    • OFSI’s processes for licence applications and breach reports
  • frequently asked questions by specific sector

The guidance on monetary penalties outlines OFSI’s processes for issuing monetary penalties for financial sanctions breaches, including:

  • the case assessment process
  • penalty calculation process
  • procedural rights

The FAQ guidance for the charity sector helps clarify what activity may be permitted under an OFSI licence and how to apply. It also promotes various sources of information and advice available to charities and NGOs

OFSI has also produced a quick guide which provides key information regarding the obligations of businesses and individuals in relation to financial sanctions.

To receive notifications when guidance has been updated, subscribe to our e-alerts. Please be aware that we do not offer legal advice.

If you can’t find the information you need, OFSI’s helpline and email service may be able to help you. Contact details are available on OFSI’s homepage.

Published 29 May 2013
Last updated 5 March 2018 + show all updates
  1. Updated sections 3.4.1 and 3.4.2 in 'Financial sanctions: general guidance'
  2. Updated to include Charity FAQ
  3. Updated quick guide to fix broken hyperlink
  4. Updated with the OFSI quick guide on key information regarding the obligations of businesses and individuals in relation to financial sanctions.
  5. Updated to improve clarity of information displayed
  6. Updated monetary penalties PDF – cover picture added
  7. Updated to bring the monetary penalties guidance document together with the general guidance.
  8. Added link to OFSI's guidance on the imposition of monetary penalties.
  9. Guidance updated to reflect the publication of new guidance on the imposition of monetary penalties
  10. New section 4.4 added making clear that OFSI expects all designated persons planning to visit the UK to possess an appropriate licence to support themselves legally while in the country.
  11. Updated guidance
  12. FAQs updated to reflect the latest notice Iran (Nuclear Proliferation): economic and financial sanctions relief under the JCPoA
  13. updated FAQs doc
  14. First published.