AdvisorHub is reporting that FINRA issued an alert on Friday warning about the compliance obligations triggered due to sanctions the U.S. government has imposed on individuals and entities in response to Russia’s invasion of Ukraine.
The FINRA alert noted that following a White House Executive Order, the Department of Treasury’s Office of Foreign Assets Control (OFAC) barred U.S. financial institutions from processing transactions to five major Russian financial institutions, subsidiaries or entities acting on their behalf, as well as named “Russian elites close to Russian President Vladimir Putin.”
More details are available at https://www.advisorhub.com/broker-dealers-must-steer-clear-of-putins-pals-finra-alert/
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