General Note on the Terms "Knowingly," "Should Have Known" And "Reason to Know" In the Primary Sanctions, Secondary Sanctions and Derivative Designation Contexts (System Ed. Note) [A]

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TURBOFAC Commentary (7110 words)

General Note on the Terms "Knowingly," "Should Have Known" And "Reason to Know" In the Primary Sanctions, Secondary Sanctions and Derivative Designation Contexts (System Ed. Note)

 

*SYNOPSIS

 

1) BACKGROUND

 

2) CONTEXTS IN WHICH THE “KNOWLEDGE QUALIFIERS” APPEAR; NO APPARENT DIFFERENCE IN SCOPE BETWEEN PRIMARY AND SECONDARY SANCTIONS

   i) Primary Sanctions Prohibitions - "Knowledge or Reason to Know"

   ii) Secondary Sanctions – “Knowingly”

   iii) Derivative Designation Criteria -- "Knowingly" (de facto, implied)

 

3) APPLICATION OF "REASON TO KNOW" OR "SHOULD HAVE KNOWN"

   i) In General

   ii) GLs and FAQs Appearing to Contain Diligence-related “Safe Harbors” (“May Rely” / “May Reasonably Rely”)

 

4) THE PRACTICAL SIGNIFICANCE OF THE "REASON TO KNOW" CONCEPT IN THE ADMINISTRATION OF PRIMARY SANCTIONS

 

4.1) THE RELATIONSHIP BETWEEN THE “REASON TO KNOW” STANDARD AND THE EIGHTH AMENDMENT TO...