The Prudential Control and Resolution Authority has announced a reprimand and a fine of €600,000 on the firm Mutuelle de Poitiers for failures in its internal compliance program in relation to sanctions.
The failures related not only to delays in detecting designated persons, but in reporting to the ACPR.
A law firm which self-reported itself to the legal regulator in relation to three real estate transactions has been fined £101,357 by the Solicitors Regulation Authority.
The transactions did not actually involve sanctioned persons or entities, but screening had not been conducted at the time of the transactions and subsequently a possible link between one of the transactions and a designated person was identified.
Further to our earlier post regarding the sentence sought against Dmitri K, the sentencing has now been handed down. Dmitri was sentenced, in absentia to 18 months’ in jail, and his (unnamed) company was fined €200,000.
The sentence relates to the export of microchips to Russia, with the court finding that Dmitri K was aware that the exports were unlawful.
The Dutch authorities have today secured settlement against four companies and eight individuals for breaching the EU’s Russian sanctions concerning Crimea through involvement in the export and machinery used in the construction of the Kerch Bridge.
The eight people were sentenced to community service ranging from 20 to 60 hours while the four companies paid fines totalling €160,000, with profits of €71,000 confiscated from one of the companies.
The case was resolved without a trial. The investigation commenced in 2017 after press reporting, and initially involved investigation into the activities of seven companies.
The names of the companies have not been published.
The British authorities today announced the imposition by HM Revenue and Customs of a £1m compound penalty on an unnamed UK company for unlicensed exports to Russia in breach of the UK’s Russian sanctions regulations.
No further information has been released.
It was reported today that the Norwegian authorities have imposed their first fine for breaches of sanctions against Russia.
The fine was NOK 50,000 being the profit from the unlawful sale of a car to a Russian customer in breach of Norway’s sanctions against the export of luxury goods.
It has been announced today that a British company has pleaded guilty to one count of the attempted export of a controlled chemical which is classified as a dual use good.
The company was fined just £600 plus £2,659.5 in costs.
While HMRC did not name the company, it is being reported that the company was VWR International Limited, and that the export was bound for Pakistan.
For an earlier fine imposed on VWR see our previous post.
The UK’s HMRC has today announced compound penalties imposed on four exporters. Two related to military goods and two to dual-use goods.
The exporters were not named.
The penalties imposed were:
The Latvian State Prosecution Service has announced a conviction of a man for importing 13 packages of wooden sleepers and 8kg of nails from Belarus in breach of the EU’s sanctions.
The fine imposed was €6,200. As part of the sentencing the man was prohibited from importing any goods from Belarus for a year.
A co-accused was earlier sentenced to pay a fine of €5,000.
It has been reported today that a German company from Schleswig-Holstein has been convicted of breaching the EU’s sanctions against Russia for the illegal export of machinery that was used to help build the Kerch bridge.
The equipment was a hydraulic hammer used for driving in the piles for the bridge. The fine was imposed by the District Court in Kiel.
