Ed. Note: if you’re new to TURBOFAC, please take note that the text string filtration function generally shouldn’t be used for terms such as “ordinarily resident,” “causing” or “new debt”. For research on the meaning of words and phrases such as those, i.e. terms central to the key legal issues in sanctions law that appear on a cross-programmatic basis, you’re typically better off locating and checking the appropriate box in the “Key Legal Issues” search category, which will limit the results to those that have been manually assessed as being relevant for the interpretation of the terms at issue.
Try typing your search term (“ordinarily resident,” “new debt,” or something else) in the “Find a Search Filter” box at the top of the page, and the corresponding “Key Legal Issues” check box will pop up instantly, if one exists. Once you check the box (e.g. “new debt,” with ~55 results), you can always use the text string filtration function to further refine your search (e.g. by typing “invoice” and narrowing the ~55 results to ~10).
Note in addition that the same applies to text string searches such as “14071” (if you’re looking for items related to EO 14071). By typing “14071” in the “Find a Search Filter” field up top, you will be able to instantly narrow the results down to items manually assessed as relating to EO 14071. Ditto terms such as “515.204” or “Iran General License G” (try the “Discrete Legal Provision” search category).
Please contact [email protected] or [email protected] with any questions on search results and efficiency.
Please click "Apply Text String Filters" again after clicking the "Close" button immediately below.
1) As reported by Bloomberg in 2016, the SCB investigation was reopened in 2014, "to determine whether the bank had withheld evidence of Iran sanctions violations. What prosecutors want to know now is whether the law firms improperly advised the London-based lender on the submission of certain information during the investigation that led to the 2012 settlement." See "Law Firms' Advice to Standard Chartered Comes Under U.S. Glare," 12 Jan 2016, at https://www.bloomberg.com/news/articles/2016-01-12/u-s-probes-lawyers-on-standard-chartered-sanctions-settlement. See also "StanChart Said to Brace for New Iran Fine of $1.5 Billion" (https://www.bloomberg.com/news/articles/2018-10-01/stanchart-said-to-brace-for-new-iran-fine-of-about-1-5-billion).
This resulted in Civil Enforcement Information - Standard Chartered Bank (Second Settlement) (2019); Settlement Agreement (OFAC) - Standard Chartered Bank (Second Settlement) (2019) and Amended Deferred Prosecution Agreement - Standard Chartered Bank (Second Settlement) (2019).
2) OFAC states that "[w]hile SCB's omission of information affected approximately...