-
Start Preamble
AGENCY:
Office of Foreign Assets Control, Treasury.
ACTION:
Final rule.
SUMMARY:
The Treasury Department's Office of Foreign Assets Control (“OFAC”) is amending its regulations to reflect amendments to the penalty provisions of the International Emergency Economic Powers Act (“IEEPA”) made by the International Emergency Economic Powers Enhancement Act (the “Act”).
DATES:
Effective June 10, 2008.
Start Further InfoFOR FURTHER INFORMATION CONTACT:
Assistant Director, Civil Penalties, tel.: 202/622-6140, Assistant Director, Policy, tel.: 202/622-4855, Office of Foreign Assets Control, or Chief Counsel (Foreign Assets Control), tel.: 202/622-2410, Office of the General Counsel, Department of the Treasury (not toll free numbers).
End Further Info End Preamble Start Supplemental InformationSUPPLEMENTARY INFORMATION:
Electronic and Facsimile Availability
This document and additional information concerning OFAC are available from OFAC's Web site (http://www.treas.gov/ofac) or via facsimile through a 24-hour fax-on demand service, tel.: (202) 622-0077.
Background
On October 16, 2007, the President signed the Act into law as Public Law 110-96. Section 2 of the Act amended section 206 of IEEPA (50 U.S.C. 1705) by, among other things, raising the maximum civil penalty to an amount not to exceed the greater of $250,000 or an amount twice the amount of the transaction that is the basis of the violation. The Act also amended IEEPA's provisions relating to the imposition of criminal penalties.
Accordingly, OFAC is amending the current IEEPA-based sanctions programs regulations to reflect the revised description of unlawful acts and the revised penalties prescribed by the Act. In particular, the amended regulations cross-reference IEEPA for the maximum civil penalty amount rather than specify such amount in the regulations themselves. OFAC posted an interim policy concerning its implementation of Start Printed Page 32651the Act on its Web site on November 28, 2007, and plans shortly to revise its enforcement guidelines, which are also available on its Web site.
Executive Order 12866, Administrative Procedure Act, Regulatory Flexibility Act, and Paperwork Reduction Act
Because the regulations at issue involve a foreign affairs function, the provisions of Executive Order 12866 and the Administrative Procedure Act (5 U.S.C. 553) requiring notice of proposed rulemaking, opportunity for public participation, and delay in effective date are inapplicable. In addition, OFAC finds that, because the rule merely amends the penalties provisions of certain sanctions regulations to conform with the statutory changes provided in the Act, good cause exists under 5 U.S.C. 553(b)(B) to waive the notice and public participation procedures, as well as under 5 U.S.C. 553(d)(3) to waive the delay in effective date. Because no notice of proposed rulemaking is required for this rule, the Regulatory Flexibility Act (5 U.S.C. 601-612) does not apply.
Start List of SubjectsList of Subjects
31 CFR Part 535
- Administrative practice and procedure
- Banks, banking
- Currency
- Foreign claims
- Foreign investments in United States
- Iran
- Penalties
- Reporting and recordkeeping requirements
- Securities
31 CFR Part 536
- Administrative practice and procedure
- Banks, banking
- Drug traffic control
- Penalties
- Reporting and recordkeeping requirements
31 CFR Part 537
- Administrative practice and procedure
- Banks, banking
- Burma
- Currency
- Foreign investments in United States
- Foreign trade
- Penalties
- Reporting and recordkeeping requirements
- Securities
31 CFR Part 538
- Administrative practice and procedure
- Banks, banking
- Currency
- Foreign investments in United States
- Foreign trade
- Penalties
- Reporting and recordkeeping requirements
- Securities
- Sudan
31 CFR Part 539
- Administrative practice and procedure
- Arms and munitions
- Imports
- Penalties
- Reporting and recordkeeping requirements
31 CFR Part 540
- Administrative practice and procedure
- Nuclear materials
- Penalties
- Reporting and recordkeeping requirements
- Russian Federation
- Uranium
31 CFR Part 541
- Administrative practice and procedure
- Banks, banking
- Blocking of assets
- Penalties
- Reporting and recordkeeping requirements
- Securities
- Services
- Zimbabwe
31 CFR Part 542
- Administrative practice and procedure
- Banks, banking
- Blocking of assets
- Credit
- Penalties
- Reporting and recordkeeping requirements
- Securities
- Services
- Syria
31 CFR Part 545
- Administrative practice and procedure
- Afghanistan
- Banks, banking
- Foreign investments in United States
- Foreign trade
- Penalties
- Reporting and recordkeeping requirements
- Travel restrictions
31 CFR Part 560
- Administrative practice and procedure
- Exports
- Humanitarian aid
- Imports
- Iran
- Penalties
- Reporting and recordkeeping requirements
31 CFR Part 585
- Administrative practice and procedure
- Banks, banking
- Foreign investments in United States
- Foreign trade
- Penalties
- Reporting and recordkeeping requirements
- Securities
- Transportation
- United States investments abroad
- Yugoslavia
31 CFR Part 586
- Administrative practice and procedure
- Banks, banking
- Foreign investments in United States
- Foreign trade
- Penalties
- Reporting and recordkeeping requirements
- Securities
- Transportation
- United States investments abroad
- Yugoslavia
31 CFR Part 587
- Administrative practice and procedure
- Banks, banking
- Foreign investments in United States
- Foreign trade
- Penalties
- Reporting and recordkeeping requirements
- Securities
- United States investments abroad
- Yugoslavia
31 CFR Part 588
- Administrative practice and procedure
- Banks, banking
- Penalties
- Reporting and recordkeeping requirements
- Securities
- Western Balkans
31 CFR Part 593
- Administrative practice and procedure
- Banks
- Banking
- Blocking of assets
- Credit
- Foreign Trade
- Imports
- Liberia
- Penalties
- Reporting and recordkeeping requirements
- Securities
31 CFR Part 594
- Administrative practice and procedure
- Banks, banking
- Penalties
- Reporting and recordkeeping requirements
- Terrorism
31 CFR Part 595
- Administrative practice and procedure
- Banks, banking
- Currency
- Foreign investments in United States
- Penalties
- Reporting and recordkeeping requirements
- Securities
- Terrorism
For the reasons set forth in the preamble, 31 CFR chapter V is amended by amending 31 CFR parts 535, 536, 537, 538, 539, 540, 541, 542, 545, 560, 585, 586, 587, 588, 593, 594, and 595 as follows:
End Amendment Part Start PartPART 535—IRANIAN ASSETS CONTROL REGULATIONS
End Part Start Amendment Part1. The authority citation for part 535 is revised to read as follows:
End Amendment PartSubpart G—Penalties
Start Amendment Part2. Section 535.701 is amended by removing the second sentence of paragraph (a) and by revising paragraphs (a)(1), (a)(2), and (b) to read as follows:
End Amendment PartPenalties.(a) * * *
(1) A civil penalty not to exceed the amount set forth in Section 206 of the Act may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, regulation, or prohibition issued under the Act.
Note to paragraph (a)(1) of § 535.701.
As of June 10, 2008, the Act provides for a maximum civil penalty not to exceed the greater of $250,000 or an amount that is twice the amount of the transaction that is the basis Start Printed Page 32652of the violation with respect to which the penalty is imposed.
(2) A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both.
(b) Adjustments to penalty amounts. (1) The civil penalties provided in the Act are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note).
(2) The criminal penalties provided in the Act are subject to adjustment pursuant to 18 U.S.C. 3571.
* * * * *PART 536—NARCOTICS TRAFFICKING SANCTIONS REGULATIONS
End Part Start Amendment Part3. The authority citation for part 536 is revised to read as follows:
End Amendment PartSubpart G—Penalties
Start Amendment Part4. Section 536.701 is amended by removing the second sentence of paragraph (a) and by revising paragraphs (a)(1), (a)(2), and (b) to read as follows:
End Amendment PartPenalties.(a) * * *
(1) A civil penalty not to exceed the amount set forth in Section 206 of the Act may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, regulation, or prohibition issued under the Act.
Note to paragraph (a)(1) of § 536.701.
As of June 10, 2008, the Act provides for a maximum civil penalty not to exceed the greater of $250,000 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.
(2) A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both.
(b) Adjustments to penalty amounts. (1) The civil penalties provided in the Act are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note).
(2) The criminal penalties provided in the Act are subject to adjustment pursuant to 18 U.S.C. 3571.
* * * * *PART 537—BURMESE SANCTIONS REGULATIONS
End Part Start Amendment Part5. The authority citation for part 537 is revised to read as follows:
End Amendment PartSubpart G—Penalties
Start Amendment Part6. Section 537.701 is amended by removing the second sentence of paragraph (a) and by revising paragraphs (a)(1), (a)(2), and (b) to read as follows:
End Amendment PartPenalties.(a) * * *
(1) A civil penalty not to exceed the amount set forth in Section 206 of the Act may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, regulation, or prohibition issued under the Act.
Note to paragraph (a)(1) of § 537.701.
As of June 10, 2008, the Act provides for a maximum civil penalty not to exceed the greater of $250,000 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.
(2) A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both.
(b) Adjustments to penalty amounts. (1) The civil penalties provided in the Act are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note).
(2) The criminal penalties provided in the Act are subject to adjustment pursuant to 18 U.S.C. 3571.
* * * * *PART 538—SUDANESE SANCTIONS REGULATIONS
End Part Start Amendment Part7. The authority citation for part 538 is revised to read as follows:
End Amendment PartSubpart G—Penalties
Start Amendment Part8. Section 538.701 is amended by removing the second sentence of paragraph (a) and by revising paragraphs (a)(1), (a)(2), and (b) to read as follows:
End Amendment PartPenalties.(a) * * *
(1) A civil penalty not to exceed the amount set forth in Section 206 of the Act may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, regulation, or prohibition issued under the Act.
Note to paragraph (a)(1) of § 538.701.
As of June 10, 2008, the Act provides for a maximum civil penalty not to exceed the greater of $250,000 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.
(2) A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both.
(b) Adjustments to penalty amounts. (1) The civil penalties provided in the Act are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note).
(2) The criminal penalties provided in the Act are subject to adjustment pursuant to 18 U.S.C. 3571.
* * * * *PART 539—WEAPONS OF MASS DESTRUCTION TRADE CONTROL REGULATIONS
End Part Start Amendment Part9. The authority citation for part 539 is revised to read as follows:
End Amendment PartSubpart G—Penalties
Start Amendment Part10. Section 539.701 is amended by removing the second sentence of paragraph (a) and by revising paragraphs (a)(1), (a)(2), and (b) to read as follows:
End Amendment PartPenalties.(a) * * *
(1) A civil penalty not to exceed the amount set forth in Section 206 of the Act may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, regulation, or prohibition issued under the Act.
Note to paragraph (a)(1) of § 539.701.
As of June 10, 2008, the Act provides for a maximum civil penalty not to exceed the greater of $250,000 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.
(2) A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both.
(b) Adjustments to penalty amounts. (1) The civil penalties provided in the Act are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note).
(2) The criminal penalties provided in the Act are subject to adjustment pursuant to 18 U.S.C. 3571.
* * * * *PART 540—HIGHLY ENRICHED URANIUM (HEU) AGREEMENT ASSETS CONTROL REGULATIONS
End Part Start Amendment Part11. The authority citation for part 540 is revised to read as follows:
End Amendment PartSubpart G—Penalties
Start Amendment Part12. Section 540.701 is amended by removing the second sentence of paragraph (a) and by revising paragraphs (a)(1), (a)(2), and (b) to read as follows:
End Amendment PartPenalties.(a) * * *
(1) A civil penalty not to exceed the amount set forth in Section 206 of the Act may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, regulation, or prohibition issued under the Act.
Note to paragraph (a)(1) of § 540.701.
As of June 10, 2008, the Act provides for a maximum civil penalty not to exceed the greater of $250,000 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.
(2) A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both.
(b) Adjustments to penalty amounts. (1) The civil penalties provided in the Act are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note).
(2) The criminal penalties provided in the Act are subject to adjustment pursuant to 18 U.S.C. 3571.
* * * * *PART 541—ZIMBABWE SANCTIONS REGULATIONS
End Part Start Amendment Part13. The authority citation for part 541 is revised to read as follows:
End Amendment PartSubpart G—Penalties
Start Amendment Part14. Section 541.701 is amended by removing the second sentence of paragraph (a) and by revising paragraphs (a)(1), (a)(2), and (b) to read as follows:
End Amendment PartPenalties.(a) * * *
(1) A civil penalty not to exceed the amount set forth in Section 206 of the Act may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, regulation, or prohibition issued under the Act.
Note to paragraph (a)(1) of § 541.701.
As of June 10, 2008, the Act provides for a maximum civil penalty not to exceed the greater of $250,000 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.
(2) A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both.
(b) Adjustments to penalty amounts. (1) The civil penalties provided in the Act are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note).
(2) The criminal penalties provided in the Act are subject to adjustment pursuant to 18 U.S.C. 3571.
* * * * *PART 542—SYRIAN SANCTIONS REGULATIONS
End Part Start Amendment Part15. The authority citation for part 542 is revised to read as follows:
End Amendment PartSubpart G—Penalties
Start Amendment Part16. Section 542.701 is amended by removing the second sentence of paragraph (a) and by revising paragraphs (a)(1), (a)(2), and (b) to read as follows:
End Amendment PartPenalties.(a) * * *
(1) A civil penalty not to exceed the amount set forth in Section 206 of the Act may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, regulation, or prohibition issued under the Act.
Note to paragraph (a)(1) of § 542.701.
As of June 10, 2008, the Act provides for a maximum civil penalty not to exceed the greater of $250,000 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.
(2) A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both.
(b) Adjustments to penalty amounts. (1) The civil penalties provided in the Act are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note).Start Printed Page 32654
(2) The criminal penalties provided in the Act are subject to adjustment pursuant to 18 U.S.C. 3571.
* * * * *PART 545—TALIBAN (AFGHANISTAN) SANCTIONS REGULATIONS
End Part Start Amendment Part17. The authority citation for part 545 is revised to read as follows:
End Amendment PartSubpart G—Penalties
Start Amendment Part18. Section 545.701 is amended by removing the second sentence of paragraph (a) and by revising paragraphs (a)(1), (a)(2), and (b) to read as follows:
End Amendment PartPenalties.(a) * * *
(1) A civil penalty not to exceed the amount set forth in Section 206 of the Act may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, regulation, or prohibition issued under the Act.
Note to paragraph (a)(1) of § 545.701.
As of June 10, 2008, the Act provides for a maximum civil penalty not to exceed the greater of $250,000 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.
(2) A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both.
(b) Adjustments to penalty amounts. (1) The civil penalties provided in the Act are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note).
(2) The criminal penalties provided in the Act are subject to adjustment pursuant to 18 U.S.C. 3571.
* * * * *PART 560—IRANIAN TRANSACTIONS REGULATIONS
End Part Start Amendment Part19. The authority citation for part 560 is revised to read as follows:
End Amendment PartSubpart G—Penalties
Start Amendment Part20. Section 560.701 is amended by removing the second sentence of paragraph (a) and by revising paragraphs (a)(1), (a)(2), and (b) to read as follows:
End Amendment PartPenalties.(a) * * *
(1) A civil penalty not to exceed the amount set forth in Section 206 of the Act may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, regulation, or prohibition issued under the Act.
Note to paragraph (a)(1) of § 560.701.
As of June 10, 2008, the Act provides for a maximum civil penalty not to exceed the greater of $250,000 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.
(2) A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both.
(b) Adjustments to penalty amounts. (1) The civil penalties provided in the Act are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note).
(2) The criminal penalties provided in the Act are subject to adjustment pursuant to 18 U.S.C. 3571.
* * * * *PART 585—FEDERAL REPUBLIC OF YUGOSLAVIA (SERBIA AND MONTENEGRO) AND BOSNIAN SERB-CONTROLLED AREAS OF THE REPUBLIC OF BOSNIA AND HERZEGOVINA SANCTIONS REGULATIONS
End Part Start Amendment Part21. The authority citation for part 585 is revised to read as follows:
End Amendment PartSubpart G—Penalties
Start Amendment Part22. Section 585.701 is amended by removing the second sentence of paragraph (a) and by revising paragraphs (a)(1), (a)(2), and (b) to read as follows:
End Amendment PartPenalties.(a) * * *
(1) A civil penalty not to exceed the amount set forth in Section 206 of the Act may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, regulation, or prohibition issued under the Act.
Note to paragraph (a)(1) of § 585.701.
As of June 10, 2008, the Act provides for a maximum civil penalty not to exceed the greater of $250,000 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.
(2) A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both.
(b) Adjustments to penalty amounts. (1) The civil penalties provided in the Act are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note).
(2) The criminal penalties provided in the Act are subject to adjustment pursuant to 18 U.S.C. 3571.
* * * * *PART 586—FEDERAL REPUBLIC OF YUGOSLAVIA (SERBIA AND MONTENEGRO) KOSOVO SANCTIONS REGULATIONS
End Part Start Amendment Part23. The authority citation for part 586 is revised to read as follows:
End Amendment PartSubpart G—Penalties
Start Amendment Part24. Section 586.701 is amended by removing the second sentence of paragraph (a) and by revising Start Printed Page 32655paragraphs (a)(1), (a)(2), and (b) to read as follows:
End Amendment PartPenalties.(a) * * *
(1) A civil penalty not to exceed the amount set forth in Section 206 of the Act may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, regulation, or prohibition issued under the Act.
Note to paragraph (a)(1) of § 586.701.
As of June 10, 2008, the Act provides for a maximum civil penalty not to exceed the greater of $250,000 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.
(2) A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both.
(b) Adjustments to penalty amounts. (1) The civil penalties provided in the Act are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note).
(2) The criminal penalties provided in the Act are subject to adjustment pursuant to 18 U.S.C. 3571.
* * * * *PART 587—FEDERAL REPUBLIC OF YUGOSLAVIA (SERBIA AND MONTENEGRO) MILOSEVIC SANCTIONS REGULATIONS
End Part Start Amendment Part25. The authority citation for part 587 is revised to read as follows:
End Amendment PartSubpart G—Penalties
Start Amendment Part26. Section 587.701 is amended by removing the second sentence of paragraph (a) and by revising paragraphs (a)(1), (a)(2), and (b) to read as follows:
End Amendment PartPenalties.(a) * * *
(1) A civil penalty not to exceed the amount set forth in Section 206 of the Act may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, regulation, or prohibition issued under the Act.
Note to paragraph (a)(1) of § 587.701.
As of June 10, 2008, the Act provides for a maximum civil penalty not to exceed the greater of $250,000 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.
(2) A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both.
(b) Adjustments to penalty amounts. (1) The civil penalties provided in the Act are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note).
(2) The criminal penalties provided in the Act are subject to adjustment pursuant to 18 U.S.C. 3571.
* * * * *PART 588—WESTERN BALKANS STABILIZATION REGULATIONS
End Part Start Amendment Part27. The authority citation for part 588 is revised to read as follows:
End Amendment PartSubpart G—Penalties
Start Amendment Part28. Section 588.701 is amended by removing the second sentence of paragraph (a) and by revising paragraphs (a)(1), (a)(2), and (b) to read as follows:
End Amendment PartPenalties.(a) * * *
(1) A civil penalty not to exceed the amount set forth in Section 206 of the Act may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, regulation, or prohibition issued under the Act.
Note to paragraph (a)(1) of § 588.701.
As of June 10, 2008, the Act provides for a maximum civil penalty not to exceed the greater of $250,000 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.
(2) A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both.
(b) Adjustments to penalty amounts. (1) The civil penalties provided in the Act are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note).
(2) The criminal penalties provided in the Act are subject to adjustment pursuant to 18 U.S.C. 3571.
* * * * *PART 593—FORMER LIBERIAN REGIME OF CHARLES TAYLOR SANCTIONS REGULATIONS
End Part Start Amendment Part29. The authority citation for part 593 is revised to read as follows:
End Amendment PartSubpart G—Penalties
Start Amendment Part30. Section 593.701 is amended by revising paragraphs (a)(1), (a)(2), and (b) to read as follows:
End Amendment PartPenalties.(a) * * *
(1) A civil penalty not to exceed the amount set forth in Section 206 of the Act may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, regulation, or prohibition issued under the Act.
Note to paragraph (a)(1) of § 593.701.
As of June 10, 2008, the Act provides for a maximum civil penalty not to exceed the greater of $250,000 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.
(2) A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both.
(b) Adjustments to penalty amounts. (1) The civil penalties provided in the Act are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note).Start Printed Page 32656
(2) The criminal penalties provided in the Act are subject to adjustment pursuant to 18 U.S.C. 3571.
* * * * *PART 594—GLOBAL TERRORISM SANCTIONS REGULATIONS
End Part Start Amendment Part31. The authority citation for part 594 is revised to read as follows:
End Amendment PartSubpart G—Penalties
Start Amendment Part32. Section 594.701 is amended by removing the second sentence of paragraph (a) and by revising paragraphs (a)(1), (a)(2), and (b) to read as follows:
End Amendment PartPenalties.(a) * * *
(1) A civil penalty not to exceed the amount set forth in Section 206 of the Act may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, regulation, or prohibition issued under the Act.
Note to paragraph (a)(1) of § 594.701.
As of June 10, 2008, the Act provides for a maximum civil penalty not to exceed the greater of $250,000 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.
(2) A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both.
(b) Adjustments to penalty amounts. (1) The civil penalties provided in the Act are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note).
(2) The criminal penalties provided in the Act are subject to adjustment pursuant to 18 U.S.C. 3571.
* * * * *PART 595—TERRORISM SANCTIONS REGULATIONS
End Part Start Amendment Part33. The authority citation for part 595 is revised to read as follows:
End Amendment PartSubpart G—Penalties
Start Amendment Part34. Section 595.701 is amended by removing the second sentence of paragraph (a) and by revising paragraphs (a)(1), (a)(2), and (b) to read as follows:
End Amendment PartPenalties.(a) * * *
(1) A civil penalty not to exceed the amount set forth in Section 206 of the Act may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, regulation, or prohibition issued under the Act.
Note to paragraph (a)(1) of § 595.701.
As of June 10, 2008, the Act provides for a maximum civil penalty not to exceed the greater of $250,000 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.
(2) A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both.
(b) Adjustments to penalty amounts. (1) The civil penalties provided in the Act are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note).
(2) The criminal penalties provided in the Act are subject to adjustment pursuant to 18 U.S.C. 3571.
* * * * *Dated: May 27, 2008.
Adam J. Szubin,
Director, Office of Foreign Assets Control.
[FR Doc. E8-12385 Filed 6-9-08; 8:45 am]
BILLING CODE 4811-42-P
Document Information
- Comments Received:
- 0 Comments
- Effective Date:
- 6/10/2008
- Published:
- 06/10/2008
- Department:
- Foreign Assets Control Office
- Entry Type:
- Rule
- Action:
- Final rule.
- Document Number:
- E8-12385
- Dates:
- Effective June 10, 2008.
- Pages:
- 32650-32656 (7 pages)
- Topics:
- Administrative practice and procedure, Afghanistan, Arms and munitions, Banks, banking, Banks, banking, Banks, banking, Banks, banking, Blocking of assets, Burma, Credit, Currency, Drug traffic control, Exports, Foreign claims, Foreign investments in United States, Foreign trade, Foreign trade, Humanitarian aid, Imports, Iran, Liberia, Nuclear materials, Penalties, Reporting and recordkeeping requirements, Russian Federation, Securities, Services, Sudan, Terrorism, Transportation, Travel ...
- PDF File:
- e8-12385.pdf
- Supporting Documents:
- » Hong Kong-Related Sanctions Regulations
- » Blocking or Unblocking of Persons and Properties
- » Blocking or Unblocking of Persons and Properties
- » Blocking or Unblocking of Persons and Properties
- » Blocking or Unblocking of Persons and Properties
- » Blocking or Unblocking of Persons and Properties
- » Blocking or Unblocking of Persons and Properties
- » Blocking or Unblocking of Persons and Properties
- » Blocking or Unblocking of Persons and Properties
- » Blocking or Unblocking of Persons and Properties
- CFR: (17)
- 31 CFR 535.701
- 31 CFR 536.701
- 31 CFR 537.701
- 31 CFR 538.701
- 31 CFR 539.701
- More ...