UK Updates Gudiance for 'Director Disqualification' Sanctions

The U.K.’s Office of Financial Sanctions Implementation updated guidance this week to clarify how it will implement a new regulation, which took effect in June, that makes it illegal for a sanctioned person to own a U.K. company, act as a director for that company or otherwise be “involved in a company’s promotion, formation or management.” The guidance covers these new “director disqualification” sanctions (see 2407090027), including the possible penalties for violators and how the U.K. may issue licenses to grant certain exceptions under the measure.