UK Finance Announces Work on UK Statutory Sanctions Review
London – Paul Hastings LLP, a leading global law firm, announced today that the firm has assisted UK Finance on its newly released UK Sanctions Statutory Instruments Review.
Once the UK reaches the end of the Brexit transition period, it will manage its own sanctions and embargoes programme. In order to facilitate this, a significant body of UK statutory instruments has been created under the Sanctions and Anti-Money Laundering Act 2018. These will come into force at the end of the transition period to replace current EU legislation.
The firm has been working with UK Finance on a pro bono basis to produce an analysis of all the changes being made to facilitate the industry’s review and alleviate the burden of the implementation process. The analysis reviews the new provisions, identifies changes and rates the impact of the changes (e.g., high, medium or low impact).
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