UK Issues Regulatory Authorities Asset Recovery General License Under Russia Sanctions Regime
The U.K. issued a General License under its Russia sanctions regime, permitting various law enforcement and regulatory authorities to carry out "any action necessary to comply with" orders made by various U.K. courts, forfeiture notices or external order from the secretary of state. The license permits an individual to carry out any action needed to comply with certain asset recovery developments, including a negotiated settlement with a regulatory agency or an approved deferred prosecution agreement to which a regulatory agency is a party.
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The license applies to authorities including the National Crime Agency, the Serious Fraud Office, Revenue and Customs, the Crown Prosecution Service, the Public Prosecution Service for Northern Ireland and any other organization later authorized by the Treasury. Non-crown organizations covered by the license are the Financial Conduct Authority and any other organization later permitted by the Treasury.