Regulatory Alerts1997-02-14 | 97-3537Added · Updated
Foreign Assets Control Regulations; Regulations Prohibiting Transactions Involving the Shipment of Certain Merchandise Between Foreign Countries; Cuban Assets Control Regulations: Civil Penalty Administrative Hearings
The Office of Foreign Assets Control proposes to amend 31 CFR parts 500, 505, and 515 to establish detailed procedures for administrative hearings and informal settlements in civil penalty cases. These amendments implement section 1710(c) of the Cuban Democracy Act of 1992 by revising Subpart G to define prepenalty notice requirements, a 30-day response deadline, and hearing protocols governed by the Administrative Procedure Act. The proposed rules specify that respondents may request discovery and hearings to contest penalties or seek mitigation, with the Director retaining authority to impose civil monetary penalties of up to $55,000 per violation.
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