Regulatory Alerts2003-01-29 | 03-1809Added · Updated
Reporting and Procedures Regulations; Cuban Assets Control Regulations: Publication of Economic Sanctions Enforcement Guidelines
The Office of Foreign Assets Control (OFAC) publishes an updated version of its internal Economic Sanctions Enforcement Guidelines as appendices to 31 CFR parts 501 and 515 for public comment. The document introduces a voluntary disclosure rule stating that proposed penalties for apparent violations will generally be mitigated by at least 50% when disclosed to OFAC. Written comments on these guidelines must be received by March 31, 2003.
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