Updating Website and Contact Information, and Authorizations for Payments for Legal Services
Key claim: OFAC adopted a final rule that updates its CFR contact and website information, replaces the reporting requirement with a recordkeeping requirement in general licenses authorizing payments for legal services from funds originating outside the United States, and corrects typographical errors and an erroneous cross-reference.
Abstract
(Rule · Treasury Department, Foreign Assets Control Office) The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is adopting a final rule to update website and contact information in certain parts of the Code of Federal Regulations (CFR). Additionally, OFAC is amending one CFR Part to update general licenses authorizing payments for legal services from funds originating outside the United States to replace the reporting requirement in the general license with a recordkeeping requirement and correcting typographical errors in two CFR Parts. OFAC is also updating its regulations to correct an erroneous cross-reference.
Why this matters
OFAC adopted a final rule that updates its CFR contact and website information, replaces the reporting requirement with a recordkeeping requirement in general licenses authorizing payments for legal services from funds originating outside the United States, and corrects typographical errors and an erroneous cross-reference.