The US Treasury's Office of Foreign Assets Control (“OFAC”) published a final rule extending the required recordkeeping period for sanctions compliance from five to ten years, aligning with newly extended statutes of limitations for sanctions violations.
The final rule, published in the Federal Register on 21 March, adopts without changes an interim rule issued in September 2024 that implemented provisions of the 21st Century Peace through Strength Act, signed into law last April.
The change aff...
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