General Note on GLs and Other Types of Authorizations as Applied to Dealings in or Related to Securities of Sanctioned Issuers

Last substantive commentary amendment:
Mar. 11 2024

You've hit a wall. Sign in if you have an account, learn more about TURBOFAC and subscription options, or purchase access to the text of the document on this page, the native .pdf file, and the associated TURBOFAC original commentary.
TURBOFAC is a module of the compliance platform OverRuled. To learn more about OverRuled, visit www.overruled.com.

TURBOFAC Commentary (3968 words)

General Note on GLs and Other Types of Authorizations as Applied to Dealings in or Related to Securities of Sanctioned Issuers

(I) Background

(a) "All Transactions" (With Provisos)
(b) "Divest or Transfer"
(c) "Wind Down of Derivative Contracts"
(d) "Financial Contracts or Other Agreements"

(II) The Scopes of the Various Types of GLs
(a) The Standard Wind Down GL (No Mention of Securities)
(b) "All Transactions" (With Provisos)
(c) "Divest or Transfer"
(d) "Wind Down of Financial Contracts or Other Agreements"
(e) "Wind Down of Derivative Contracts"
(f) Confusion on the Status of Short Covering
(g) The Meaning of the Standard "to Purchase or Invest in" Exclusion

***

*General Note on GLs and Other Types of Authorizations as Applied to Dealings in or Related to Securities of Sanctioned Issuers

(I) Background

There are...