International Sanctions Compliance
Lloyd’s International Regulatory Risk has put together a presentation on international sanctions and the Lloyd’s Market. It explains how managing agents can ensure that they comply with applicable sanctions in the UK, US or EU. This presentation has been filmed and will shortly be available on Crystal at www.lloyds.com/crystal for managing agents to view.
Andy Wragg, Senior Manager, International Regulatory Risk, gives presentations to managing agents on regulatory and compliance requirements intended to prevent money laundering. These presentations can be extended to include guidance on sanctions as well. If a managing agent would like a presentation on these subjects, they should contact Andy at andy.wragg@lloyds.com or on +44 (0) 20 7327 6387.
UK sanctions apply to all British citizens and UK corporate bodies. Sanctions under EU Regulations have direct effect in member states and apply to all member state nationals and entities incorporated in member states, as well as all persons and entities doing business in the EU. Penalties for breaching sanctions are set out in relevant Statutory Instruments and include fines and imprisonments. US sanctions apply to persons within the US: detailed guidance on their application to Lloyd’s entities is included on Crystal.
Last updated on 28 Nov 2007
