Hanna Walczak

11 February 2026 UK Policy and Regulatory Alert On 26 January 2026, the United Kingdom’s Office of Financial Sanctions Implementation (OFSI) published a penalty notice regarding a breach of UK financial sanctions by the Bank of Scotland Plc (Bank of Scotland). OFSI imposed a fine of £160,000 on the Bank of Scotland for dealing with funds and making funds available to a designated person. Below we discuss the rationale for OFSI’s decision and key compliance takeaways for businesses.

13 February 2026 UK Policy and Regulatory Alert On 29 January 2026, the UK Office of Financial Sanctions Implementation (OFSI) published its response to the recent consultation on reforming its enforcement process. The reforms, prompted by the increased volume and complexity of sanctions enforcement since 2022, aim to improve transparency, efficiency, and proportionality in OFSI’s approach to enforcement.