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NLJ this week: Sanctions, designated persons and establishing ‘control’

15 March 2024
Issue: 8063 / Categories: Legal News , Procedure & practice , Sanctions , International , Banking
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What is the meaning of ‘control’ in the context of international sanctions? Who exercises it? How do we interpret it?

In this week’s NLJ, Vivien Davies, partner, Galiya Martirosova, associate, and Krysteen Ormond, solicitor, Fieldfisher Sanctions Group, explore a recent ruling on this pertinent issue and question whether enough guidance is available.

The case, Mints & Ors v PJSC National Bank Trust [2023], offered some clarity on the meaning of ‘control’. The authors note the ruling ‘implies that designated persons can exert control over a company without specific limits, impacting the application of sanctions. This is especially relevant in cases where designated persons may lack direct ownership but retain the ability to influence and control entities.’

The authors cover Mints, as well as subsequent guidance on ownership and control issued by the government.

MOVERS & SHAKERS

DWF—19 appointments

DWF—19 appointments

Belfast team bolstered by three senior hires and 16 further appointments

Cadwalader—Andro Atlaga

Cadwalader—Andro Atlaga

Firm strengthens leveraged finance team with London partner hire

Knights—Ella Dodgson & Rebecca Laffan

Knights—Ella Dodgson & Rebecca Laffan

Double hire marks launch of family team in Leeds

NEWS
Charles Pigott of Mills & Reeve reports on Haynes v Thomson, the first judicial application of the Supreme Court’s For Women Scotland ruling in a discrimination claim, in this week's NLJ
Charlie Mercer and Astrid Gillam of Stewarts crunch the numbers on civil fraud claims in the English courts, in this week's NLJ. New data shows civil fraud claims rising steadily since 2014, with the King’s Bench Division overtaking the Commercial Court as the forum of choice for lower-value disputes
The Supreme Court issued a landmark judgment in July that overturned the convictions of Tom Hayes and Carlo Palombo, once poster boys of the Libor and Euribor scandal. In NLJ this week, Neil Swift of Peters & Peters considers what the ruling means for financial law enforcement
Small law firms want to embrace technology but feel lost in a maze of jargon, costs and compliance fears, writes Aisling O’Connell of the Solicitors Regulation Authority in this week's NLJ
Artificial intelligence may be revolutionising the law, but its misuse could wreck cases and careers, warns Clare Arthurs of Penningtons Manches Cooper in this week's NLJ
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