What Brexit Means for Financial Sanctions

February 11, 2020 | Government

BIRMINGHAM, U.K. – The Office of Financial Sanctions Implementation (OFSI) has received questions from stakeholders about the implications for financial sanctions during the transition period.

The Withdrawal Agreement between the European Union and the UK states there will be a ‘transition period’ which runs until 31 December 2020.

During the transition period, the UK will continue to be bound by EU sanctions. UN and EU sanctions will continue to be implemented in the UK during this time.

To reflect this, OFSI has updated its general guidance on financial sanctions.

SOURCE: Gambling Commission.

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