FR Notice Introducing Notes to 5XX.201 Provisions Related to Blocking Orders and Instructions (9-13-24)

Date issued: Sep. 17 2024

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TURBOFAC Commentary (560 words)

Notes:

1) This FR notice announces changes to 35 different regulatory provisions (in almost all cases “5XX.201 provisions”) that require the blocking of property in which blocked persons have an interest. More specifically, the FR notice announces the addition of two “notes” to the typical 5XX.201 provision and the amendment of one other note.

2) One of the new notes cross-references portions of the RPPR that contemplate requests for SDN delistings and the unblocking of funds on the basis of mistaken identity. This is merely a cross-reference for ease of understanding purposes.

3) The other “note” provides as follows (using the 510.201 versions as illustrative):

"In certain cases, OFAC may issue an order to: identify as blocked specific property or interests in property...