"It is prohibited to intentionally participate in any activities if you know that the object or effect of them is directly or indirectly to circumvent the prohibitions imposed by the Regulations or to enable or facilitate the contravention of those prohibitions."
The rapid and rolling implementation of sanctions on Russia and its allies is unprecedented in its speed and scale.
Firms need to rapidly identify relevant sanctions, assess their business impact and implement them. The consequences of non-compliance are severe, including heavy fines and custodial sentences.
Baker Regulatory are offering clients a low-cost Sanctions Evaluation Report which helps firms ensure their sanctions implementation is fit for purpose. Included in the Sanctions Evaluation Report are Best Practice recommendations to help firms ensure they are sanctions compliant.
For more details on the Sanctions Evaluation and to hear how Baker Regulatory can help your firm with their sanctions contact Barry Faudemer.