On 1 April 2017, HM Treasury implemented a new US-type financial sanctions enforcement framework, The Policing and Crime Act (the Act), that can potentially fine UK and non-UK companies EUR 1 million or more for breaches of financial sanctions. Part 8 of the Act gives the Office of Financial Sanctions Implementation (OFSI), which is part of HM … Continue Reading
On 22 September, the World Trade Organisation (WTO) announced that the EU had failed to eliminate illegal aid to Airbus, handing US rival Boeing one of the biggest triumphs on the global stage in its 12-year battle with Airbus. The WTO stated that the EU and Britain, France, Germany and Spain had failed to comply with earlier rulings against … Continue Reading
