OFAC Updates Week 10/12/20
October 14, 2020
The Secretary of State has submitted a report to congress pursuant to the Hong Kong Autonomy Act (HKAA) section 5(a). Section 5 of the HKAA details an action plan for "Identification of Foreign Persons Involved in the Erosion of the Obligations of China Under the Joint Declaration or the Basic Law and Foreign Financial Institutions that Conduct Significant Transactions with Those Persons." Section 5(a) specifically, mandates the Secretary of State to submit a report that identifies foreign persons related to the blocking of the HKAA and how they are doing so. In response to this report the Office of Foreign Assets Control (OFAC) has updated their Frequently Asked Questions (FAQs) about Hong Kong with questions 848, 849, 850 and 851. OFAC has also updated their Specially designated Nationals and Blocked Persons (SDN) List with Hong Kong-related designations.
See the Hong Kong Autonomy Act Below:
See the Updated FAQs Below :
See the New Designations to the SDN Below:
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