Guidance

Financial sanctions: guidance, FAQs and information on monetary penalties

From:
HM Treasury and Office of Financial Sanctions Implementation
Published:
29 May 2013
Last updated:
15 September 2017, see all updates

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

Documents

Financial sanctions: general guidance

PDF, 5.08MB, 73 pages

Monetary penalties for breaches of financial sanctions: guidance

PDF, 377KB, 32 pages

Financial Sanctions in the UK: a quick guide

PDF, 537KB, 2 pages

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

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.

Document information

Published: 29 May 2013

Updated: 15 September 2017

+ full page history

  1. Updated with the OFSI quick guide on key information regarding the obligations of businesses and individuals in relation to financial sanctions.
  2. Updated to improve clarity of information displayed
  3. Updated monetary penalties PDF – cover picture added
  4. Updated to bring the monetary penalties guidance document together with the general guidance.
  5. Added link to OFSI's guidance on the imposition of monetary penalties.
  6. Guidance updated to reflect the publication of new guidance on the imposition of monetary penalties
  7. 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.
  8. Updated guidance
  9. FAQs updated to reflect the latest notice Iran (Nuclear Proliferation): economic and financial sanctions relief under the JCPoA
  10. updated FAQs doc
  11. First published.

From: HM Treasury Office of Financial Sanctions Implementation