OFSI ·

UK issues OFSI licence for Prince Group insolvency payments

Payments allowed only if licence conditions are met

Financial Services Sanctions
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The UK OFSI issued a general licence allowing specified insolvency-related payments involving the Prince Group under sanctions rules.
Why it matters
Transactions are permitted only within the licence scope, requiring financial institutions to verify compliance before execution.
Implications
  • — Payments allowed under conditions — compliance required
  • — Non-compliant transactions prohibited — sanctions risk remains

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