OFAC Updates FAQs to Reflect New Cuba Restrictions
The Office of Foreign Assets Control on Oct. 26 updated 10 frequently asked questions and published one new FAQ to provide guidance on its most recent update to the Cuban Assets Control Regulations (see 2010230024). OFAC’s new FAQ outlines which…
Sign up for a free preview to unlock the rest of this article
Communications Daily is required reading for senior executives at top telecom corporations, law firms, lobbying organizations, associations and government agencies (including the FCC). Join them today!
general licenses the change affects and clarifies how the restrictions apply to entities on the State Department’s Cuba Restricted List. The agency also clarified that effective Nov. 26, people subject to U.S. jurisdiction will no longer be able to process remittances to or from Cuba “through [Financiera Cimex, called] FINCIMEX or any other entity or subentity on the [Cuba Restricted List].”