New UK and overseas territories ban on trust services for Russian-connected clients

Mark Battersby
clock • 3 min read

The UK Government's financial sanctions regime now includes a ban on providing trust services to those connected with Russia The UK regime is operated by the Office of Financial Sanctions Implementation (OFSI) imposed by the government to achieve specific foreign policy or national security objectives. A briefing note from the Solicitors Regulation Authority on 16 December said there have been a number of changes to the regime - which is underpinned by several pieces of legislation - in recent times, and  it had already published guidance for firms to make sure they understand their o...

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