UK Issues Reminder About Frozen Asset Reporting Deadline
The U.K.'s Office of Financial Sanctions Implementation is reminding traders to submit frozen asset reports to OFSI by Nov. 30 if they hold or control funds or economic resources belonging to or owned, held or controlled by a sanctioned person.…
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Those reports should include details of all funds or economic resources frozen in the U.K. and overseas "where these funds or economic resources are subject to UK financial sanctions legislation," OFSI said in an Oct. 23 email to industry. The reports should also include the value of all those assets as of close of business on Sept. 30. "Where the funds or economic resources relate to shares, securities, or other debt or payment instruments, the GBP value should be provided in your report."