On March 14, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control announced a settlement with EFG International AG regarding violations of OFAC rules alleged to have occurred as a result of the firm’s buying, selling and holding U.S. securities on behalf of persons sanctioned by OFAC. This blog entry provides a link to a client alert on this topic. …
Continue Reading OFAC Settlement Illustrates Sanctions Compliance Risks for Foreign Asset Managers Trading U.S. Securities