Posts tagged Department of Treasury.
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Hunton Andrews Kurth released a client alert on the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) settlement with EFG International AG. On March 14, 2024, OFAC announced a settlement (the “Settlement”) with EFG International AG, a global private banking group based in Switzerland with many global subsidiaries (collectively, the “Manager”) regarding violations of OFAC rules alleged to have occurred as a result of the Manager’s buying, selling and, in many cases, merely holding, U.S. securities on behalf of persons sanctioned by OFAC. 


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