In short
- HM Treasury - OFSI amended FAQs 49-51, 55, 61-66, 72-73, 76 and 84 to reflect Legal Services General Licence INT/2024/5334756.
- HM Treasury - OFSI added FAQs 165-167 for General Licences covering water, utility and banking bills and fees.
What happened
HM Treasury - OFSI published new and updated FAQs, including FAQ 205 about specific licences when a designated person is delisted and FAQ 204 clarifying policy for all open licence applications. The FAQs provide guidance and technical information on financial sanctions.
Several FAQs were amended or added, such as those reflecting Legal Services General Licence INT/2024/5334756 and General Licence INT/2025/7598960. The updates cover topics like Basic Needs Allowance, PJSC Transneft, and General Licences for water, utility, and banking bills and fees.
OFSI publishes FAQs providing short-form guidance and technical information on financial sanctions.
In numbers
- 205 FAQ number added about specific licences
- INT/2024/5334756 Legal Services General Licence number
- INT/2025/7598960 OFSI General Licence number
Named in this item
Organization, regulator GB UK financial sanctions —
What compliance teams should check
- Review FAQ 205 for guidance on specific licences when a designated person is delisted.
- Update internal procedures to reflect changes in Legal Services General Licence INT/2024/5334756 as shown in amended FAQs.
- Check FAQs 165-167 for compliance with General Licences covering water, utility and banking bills and fees.
Why it matters
The frequent updates and additions to the UK Financial Sanctions FAQs by HM Treasury - OFSI provide compliance officers with current guidance on licensing, sanctions regimes, and technical definitions. These changes, including new FAQs and amendments reflecting specific General Licences, directly impact how firms interpret and apply financial sanctions rules. Staying current with these FAQs is essential for ensuring compliance with UK sanctions, avoiding breaches, and understanding the scope of permitted activities under various General Licences.
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