HM Treasury no topic: Launch of OFSI Consultation

The Office of Financial Sanctions Implementation (OFSI) has today launched a consultation on its proposed approach to imposing monetary penalties.

The consultation asks for views on OFSI’s approach to:

• circumstances where monetary penalties may be appropriate
• factors that will be considered when determining the penalty amount
• the process for imposing the penalty
• circumstances where OFSI will publish details of monetary penalties imposed

The consultation will close on 26 January 2017 and can be found here:

https://www.gov.uk/government/consultations/the-process-for-imposing-monetary-penalties-for-breaches-of-financial-sanctions

The press release can be found here:

https://www.gov.uk/government/news/new-million-pound-penalties-for-breaching-financial-sanctions