Additional UK guidance on trust services and sanctions [17/7/2024]
18/07/2024
OFSI has published further guidance on the provision of trust services in respect of the UK’s Russian sanctions.
The FAQs say:
- When providing trust services, supplying professional and business services to persons connected with Russia is prohibited under the regulations unless permitted by a licence or a relevant exception (FAQ 35).
- When an asset freeze is in place, the asset must remain frozen in the provision of trust services (FAQ 36).
- However, the trust services sanctions include an exception allowing trust services to be supplied to comply with an asset freeze. This exception includes where an activity needs to be undertaken regarding frozen assets, and a designated person or the trustee obtains a licence or utilises an exception applicable to the asset freeze.
The update is on the UK Guidance section of this site. The full text is here.
Source
https://www.gov.uk/government/publications/uk-financial-sanctions-faqs/uk-financial-sanctions-faqs
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.