OFAC Publication of Kingpin Act/Panama-related General Licenses
Publication of Kingpin Act/Panama-related General Licenses; Issuance of Frequently Asked Questions Regarding Kingpin Act/Panama-related General Licenses
Today, the Department of the Treasury's Office of Foreign Assets Control (OFAC) updated one Kingpin Act General License and published two new Kingpin Act General Licenses, respectively: General License 4A, “Authorizing Certain Transactions Involving Individuals or Entities Located in the Panamanian Mall and Associated Complex, Soho Panama, S.A. (a.k.a. Soho Mall Panama),” General License 5, “Authorizing Certain Transactions and Activities Related to the Panamanian Seizure of Balboa Bank & Trust,” and General License 6, “Authorizing Certain Transactions and Activities Related to the Intervention by the Superintendency of Securities Markets of Panama in Balboa Securities, Corp.” These General Licenses authorize certain transactions and activities that would otherwise be prohibited pursuant to the Kingpin Act. OFAC is also amending one and issuing two new related Frequently Asked Questions.