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§ 589.413 Significant transaction(s); significant financial transaction(s).
In determining, for the purposes of §§ 589.201(a)(6)(vii) and 589.209, whether a transaction or a financial transaction is significant, the Secretary of the Treasury or the Secretary’s designee will consider the totality of the facts and circumstances. As a general matter, some or all of the following factors may be considered:
(a) Size, number, and frequency. The size, number, and frequency of transaction(s) over a period of time, including whether the transaction(s) is increasing or decreasing over time and the rate of increase or decrease.
(b) Nature. The nature of the transaction(s), including the type, complexity, and commercial purpose of the transaction(s).
(c) Level of awareness; pattern of conduct. (1) Whether the transaction(s) is performed with the involvement or approval of management or only by clerical personnel; and
(2) Whether the transaction(s) is part of a pattern...
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1) This interpretive provision implements the substance of FAQ # 542 and FAQ # 545, except that it consolidates the SSIDES and UFSA "significant transaction" criteria into a single provision. There are no substantive changes vis-à-vis the pre-existing substance of FAQs 542 and 545.
2) With respect to subsection (e) "The impact of the transaction(s) on the objectives of UFSA, SSIDES, CAATSA, E.O. 13660, E.O. 13661, E.O. 13662, E.O. 13685, or any other Executive order issued pursuant to the national emergency declared in E.O. 13660," note that for UFSA, the sanctions apply with respect to "any other Executive order issued pursuant...