Financial Sanctions – Updated guide for US sanctions

Back in May 2016, we shared with you, our guide on Financial Sanctions to help you assess what level of sanctions screening controls are proportionate and appropriate for your firm. We have since updated the guide to incorporate new messaging on US sanctions.

 

Administered and enforced by the Office of Foreign Assets Control (OFAC), US sanctions have recently come back into focus following President Trump’s election. This presented Aviva UKGI with the opportunity to give its employees a timely reminder of their individual responsibilities with regard to dealing with OFAC sanctioned individuals and entities.

We thought that you, our brokers may also be interested in the following key messages:

All employees, regardless of nationality, are bound by OFAC sanctions with regard to US dollar payments.

 

Employees with US nationality have additional responsibilities in an individual capacity in terms of avoiding involvement with OFAC sanctioned targets in the course of their work.

 

For more information on the US sanctions update, we’ve created a new section within the Financial Sanctions interactive guide, on page seven. The guide is stored on the Aviva Good Thinking Hub - you can view the updated guide here.

 

Please note: This is still only a guide. The content is for illustrative purposes only and it does not constitute advice which you can rely upon.

For further information on financial sanctions, please email fcops@aviva.com 

 

Article Publish Date: Wednesday 5 July 2017

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