Rule2022-26182
Publication of Foreign Narcotics Kingpin Sanctions Regulations Web General Licenses 5, 6, and 7 and Subsequent Iterations
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
December 1, 2022
Issuing agencies
Treasury DepartmentForeign Assets Control Office
Abstract
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing nine general licenses (GLs) issued pursuant to the Foreign Narcotics Kingpin Sanctions Regulations: GLs 5, 5A, 5B, 5C, 6, 6A, 6B, 6C, and 7, each of which was previously made available on OFAC's website.
Full Text
<html>
<head>
<title>Federal Register, Volume 87 Issue 230 (Thursday, December 1, 2022)</title>
</head>
<body><pre>
[Federal Register Volume 87, Number 230 (Thursday, December 1, 2022)]
[Rules and Regulations]
[Pages 73643-73647]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-26182]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 598
Publication of Foreign Narcotics Kingpin Sanctions Regulations
Web General Licenses 5, 6, and 7 and Subsequent Iterations
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Publication of web general licenses.
-----------------------------------------------------------------------
SUMMARY: The Department of the Treasury's Office of Foreign Assets
Control (OFAC) is publishing nine general licenses (GLs) issued
pursuant to the Foreign Narcotics Kingpin Sanctions Regulations: GLs 5,
5A, 5B, 5C, 6, 6A, 6B, 6C, and 7, each of which was previously made
available on OFAC's website.
DATES: GL 5 was issued on May 13, 2016. See SUPPLEMENTARY INFORMATION
for additional relevant dates.
FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for
Licensing, 202-622-2480; Assistant Director for Regulatory Affairs,
202-622-4855; or Assistant Director for Sanctions Compliance &
Evaluation, 202-622-2490.
SUPPLEMENTARY INFORMATION:
Electronic Availability
This document and additional information concerning OFAC are
available on OFAC's website: <a href="http://www.treas.gov/ofac">www.treas.gov/ofac</a>.
Background
On May 13, 2016, OFAC issued GLs 5 and 6 to authorize certain
transactions otherwise prohibited by the Foreign Narcotics Kingpin
Sanctions Regulations, 31 CFR part 598. At the time of issuance, OFAC
made GLs 5 and 6 available on its website (<a href="http://www.treas.gov/ofac">www.treas.gov/ofac</a>).
Subsequently, OFAC issued three further iterations of GLs 5 and 6: on
June 10, 2016, OFAC issued GLs 5A and 6A, which superseded GLs 5 and 6
respectively; on July 21, 2016, OFAC issued GLs 5B and 6B, which
superseded GLs 5A and 6A, respectively; and on February 1, 2017, OFAC
issued GLs 5C and 6C, which superseded GLs 5B and 6B, respectively. On
June 14, 2016, OFAC issued GL 7.
Each of these GLs is now expired. Each GL was made available on
OFAC's website (<a href="http://www.treas.gov/ofac">www.treas.gov/ofac</a>) when it was issued. The text of
these GLs is provided below.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598
GENERAL LICENSE NO. 5
Authorizing Certain Transactions and Activities Related to the
Panamanian Government Seizure of Balboa Bank & Trust
(a) Except as provided in paragraph (b), all transactions and
activities otherwise prohibited by the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901-1908, and the Foreign Narcotics
Kingpin Sanctions Regulations, 31 CFR part 598, that are necessary
for analysis of, and recommendations regarding, the financial
viability of Balboa Bank & Trust by the administrator appointed by
the Superintendency of Banking of Panama (Superintendencia de Bancos
de Panama) pursuant to applicable Panamanian law following the
seizure of the Panamanian bank, Balboa Bank & Trust, are authorized,
including the exportation, reexportation, or provision, directly or
indirectly, of the following:
(1) Software, hardware, and related services, including
information technology management services;
(2) Goods and services related to bank administration, building
maintenance, and building operations; and
(3) Auditing, consulting, legal, and other professional
services.
(b) This general license does not authorize:
(1) The unblocking of any property blocked pursuant to the
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part
598; or
(2) Any transactions or dealings otherwise prohibited by any
Executive order or any other part of 31 CFR chapter V, or any
transactions or dealings with any individual or entity other than
Balboa Bank & Trust that is listed on the Office of Foreign Assets
Control's List of Specially Designated Nationals or Blocked Persons
or that otherwise constitutes a person whose property and interests
in property are blocked.
(c) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
transactions, to file a report on the transactions, including the
parties involved, the type and scope of activities conducted, and
the dates of the activities, with the Office of Foreign Assets
Control, Sanctions Compliance & Evaluation Division, U.S. Department
of the Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank
Building, Washington, DC 20220. Reports may also be filed via email
to <a href="/cdn-cgi/l/email-protection#561910171504332639242216222433372523242f78313920"><span class="__cf_email__" data-cfemail="fbb4bdbab8a99e8b94898fbb8f899e9a888e8982d59c948d">[email protected]</span></a>.
(d) Unless extended or revoked, this authorization expires at
12:01 a.m. eastern daylight time, June 14, 2016.
Note to paragraph (d): Grounds for revocation include: (1)
suspension or
[[Page 73644]]
termination of the Panamanian government's seizure of administrative
and operating control of Balboa Bank & Trust; (2) return of control,
directly or indirectly, to any Specially Designated National (SDN);
or (3) return of assets to any SDN.
John E. Smith,
Acting Director, Office of Foreign Assets Control.
Dated: May 13, 2016.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598
GENERAL LICENSE NO. 5A
Authorizing Certain Transactions and Activities Related to the
Panamanian Government Seizure of Balboa Bank & Trust
(a) General License No. 5, dated May 13, 2016, is replaced and
superseded in its entirety by this General License No. 5A.
(b) Except as provided in paragraph (c), all transactions and
activities otherwise prohibited by the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901-1908, and the Foreign Narcotics
Kingpin Sanctions Regulations, 31 CFR part 598, that are necessary
for analysis of, and recommendations regarding, the financial
viability of Balboa Bank & Trust by the administrator appointed by
the Superintendency of Banking of Panama (Superintendencia de Bancos
de Panama) pursuant to applicable Panamanian law following the
seizure of the Panamanian bank, Balboa Bank & Trust, are authorized,
including the exportation, reexportation, or provision, directly or
indirectly, of the following:
(1) Software, hardware, and related services, including
information technology management services;
(2) Goods and services related to bank administration, building
maintenance, and building operations; and
(3) Auditing, consulting, legal, and other professional
services.
(c) This general license does not authorize:
(1) The unblocking of any property blocked pursuant to the
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part
598; or
(2) Any transactions or dealings otherwise prohibited by any
Executive order or any other part of 31 CFR chapter V, or any
transactions or dealings with any individual or entity other than
Balboa Bank & Trust that is listed on the Office of Foreign Assets
Control's List of Specially Designated Nationals or Blocked Persons
or that otherwise constitutes a person whose property and interests
in property are blocked.
(d) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
transactions, to file a report on the transactions, including the
parties involved, the type and scope of activities conducted, and
the dates of the activities, with the Office of Foreign Assets
Control, Sanctions Compliance & Evaluation Division, U.S. Department
of the Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank
Building, Washington, DC 20220. Reports may also be filed via email
to <a href="/cdn-cgi/l/email-protection#632c2522203106130c111723171106021016111a4d040c15"><span class="__cf_email__" data-cfemail="87c8c1c6c4d5e2f7e8f5f3c7f3f5e2e6f4f2f5fea9e0e8f1">[email protected]</span></a>.
(e) Unless extended or revoked, this authorization expires at
12:01 a.m. eastern daylight time, July 22, 2016.
Note to paragraph (e): Grounds for revocation include: (1)
suspension or termination of the Panamanian government's seizure of
administrative and operating control of Balboa Bank & Trust; (2)
return of control, directly or indirectly, to any Specially
Designated National (SDN); or (3) return of assets to any SDN.
Gregory T. Gatjanis,
Acting Director, Office of Foreign Assets Control.
Dated: June 10, 2016.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598
GENERAL LICENSE NO. 5B
Authorizing Certain Transactions and Activities Related to the
Panamanian Government Seizure of Balboa Bank & Trust
(a) General License No. 5A, dated June 10, 2016, is replaced and
superseded in its entirety by this General License No. 5B.
(b) Except as provided in paragraph (c), the following
transactions and activities otherwise prohibited by the Foreign
Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and the
Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part 598,
are authorized:
(1) Transactions and activities that are necessary during the
reorganization of Balboa Bank & Trust (Balboa Bank) by the
Superintendency of Banking of Panama (Superintendencia de Bancos de
Panama) (Superintendency) and the reorganizer appointed by the
Superintendency pursuant to applicable Panamanian law following
Balboa Bank's seizure by the Superintendency, for the analysis of,
and recommendations regarding, financial viability and
reorganization, or to facilitate, negotiate, or agree to Balboa
Bank's reorganization and any related sale, disposition, or
transfer, including the exportation, re-exportation, or provision,
directly or indirectly, of the following:
(i) Software, hardware, and related services, including
information technology management services;
(ii) Goods and services related to bank employment and
administration, as well as building maintenance and building
operations; and
(iii) Auditing, consulting, legal, investment banking, and other
professional services.
(2) Transactions and activities related to payments on loans and
other obligations, in effect prior to May 5, 2016, by any non-
designated Balboa Bank customers to Balboa Bank, provided such
payments are remitted to the account established at Banco Nacional
de Panama by the Superintendency.
(c) This general license does not authorize:
(1) The unblocking of any property blocked pursuant to the
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part
598;
(2) Any transactions or activities otherwise prohibited by any
Executive order or any other part of 31 CFR chapter V, or any
transactions or activities with any individual or entity other than
Balboa Bank that is listed on the Office of Foreign Assets Control's
List of Specially Designated Nationals and Blocked Persons or that
otherwise constitutes a person whose property and interests in
property are blocked; or
(3) Any transactions or activities to finalize, close, or
exchange assets or any other thing of value related to the sale,
disposition, or transfer of Balboa Bank.
Note to paragraph (c)(3): In the event a transaction or activity
to finalize, close, or exchange assets or any other thing of value
related to the sale, disposition, or transfer of Balboa Bank
involves a U.S. person or is otherwise subject to U.S. jurisdiction,
a separate license from the Office of Foreign Assets Control is
required.
(d) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
transactions, to file a report on the transactions, including the
parties involved, the type and scope of activities conducted, and
the dates of the activities, with the Office of Foreign Assets
Control, Sanctions Compliance & Evaluation Division, U.S. Department
of the Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank
Building, Washington, DC 20220. Reports may also be filed via email
to <a href="/cdn-cgi/l/email-protection#1d525b5c5e4f786d726f695d696f787c6e686f64337a726b"><span class="__cf_email__" data-cfemail="f4bbb2b5b7a691849b8680b4808691958781868dda939b82">[email protected]</span></a>.
(e) Unless extended or revoked, this authorization expires at
12:01 a.m. eastern daylight time, February 3, 2017.
Note to paragraph (e): Grounds for revocation include: (1)
suspension or termination of the Panamanian Government's seizure of
administrative and operating control of Balboa Bank; (2) return of
control, directly or indirectly, to any Specially Designated
National (SDN); or (3) return of assets to any SDN.
John E. Smith,
Acting Director, Office of Foreign Assets Control.
Dated: July 21, 2016.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598
GENERAL LICENSE NO. 5C
Authorizing Certain Transactions and Activities Related to the
Panamanian Government Seizure of Balboa Bank & Trust
(a) General License No. 5B, dated July 21, 2016, is replaced and
superseded in its entirety by this General License No. 5C.
(b) Except as provided in paragraph (c), the following
transactions and activities otherwise prohibited by the Foreign
Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and the
Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part 598,
are authorized:
(1) Transactions and activities that are necessary during the
reorganization of Balboa Bank & Trust (Balboa Bank) by the
[[Page 73645]]
Superintendency of Banking of Panama (Superintendencia de Bancos de
Panama) (Superintendency) and the reorganizer appointed by the
Superintendency pursuant to applicable Panamanian law following
Balboa Bank's seizure by the Superintendency, for the analysis of,
and recommendations regarding, financial viability and
reorganization, or to facilitate, negotiate, or agree to Balboa
Bank's reorganization and any related sale, disposition, or
transfer, including the exportation, re-exportation, or provision,
directly or indirectly, of the following:
(i) Software, hardware, and related services, including
information technology management services;
(ii) Goods and services related to bank employment and
administration, as well as building maintenance and building
operations; and
(iii) Auditing, consulting, legal, investment banking, and other
professional services.
(2) Transactions and activities related to payments on loans and
other obligations, in effect prior to May 5, 2016, by any non-
designated Balboa Bank customers to Balboa Bank, provided such
payments are remitted to the account established at Banco Nacional
de Panama by the Superintendency.
(c) This general license does not authorize:
(1) The unblocking of any property blocked pursuant to the
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part
598;
(2) Any transactions or activities otherwise prohibited by any
Executive order or any other part of 31 CFR chapter V, or any
transactions or activities with any individual or entity other than
Balboa Bank that is listed on the Office of Foreign Assets Control's
List of Specially Designated Nationals and Blocked Persons or that
otherwise constitutes a person whose property and interests in
property are blocked; or
(3) Any transactions or activities to finalize, close, or
exchange assets or any other thing of value related to the sale,
disposition, or transfer of Balboa Bank.
Note to paragraph (c)(3): In the event a transaction or activity
to finalize, close, or exchange assets or any other thing of value
related to the sale, disposition, or transfer of Balboa Bank
involves a U.S. person or is otherwise subject to U.S. jurisdiction,
a separate license from the Office of Foreign Assets Control is
required.
(d) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
transactions, to file a report on the transactions, including the
parties involved, the type and scope of activities conducted, and
the dates of the activities, with the Office of Foreign Assets
Control, Sanctions Compliance & Evaluation Division, U.S. Department
of the Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank
Building, Washington, DC 20220. Reports may also be filed via email
to <a href="/cdn-cgi/l/email-protection#d09f96919382b5a0bfa2a490a4a2b5b1a3a5a2a9feb7bfa6"><span class="__cf_email__" data-cfemail="2d626b6c6e7f485d425f596d595f484c5e585f54034a425b">[email protected]</span></a>.
Andrea Gacki,
Acting Director, Office of Foreign Assets Control.
Dated: February 1, 2017.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598
GENERAL LICENSE NO. 6
Authorizing Certain Transactions and Activities Related to the
Intervention by the Superintendency of Securities Markets of Panama in
Balboa Securities, Corp.
(a) Except as provided in paragraph (b), all transactions and
activities otherwise prohibited by the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901-1908, and the Foreign Narcotics
Kingpin Sanctions Regulations, 31 CFR part 598, that are necessary
for the inventory of assets and liabilities, and development of a
final report, on Balboa Securities, Corp., by the administrator
appointed by the Superintendency of Securities Markets of Panama
(Superintendencia del Mercados de Valores de Panama)
(Superintendency) pursuant to applicable Panamanian law following
the intervention by the Superintendency in the Panamanian securities
firm, Balboa Securities, Corp., are authorized, including the
exportation, reexportation, or provision, directly or indirectly, of
the following:
(1) Software, hardware, and related services, including
information technology management services;
(2) Goods and services related to securities firm
administration, building maintenance, and building operations; and
(3) Auditing, consulting, legal, and other professional
services.
(b) This general license does not authorize:
(1) The unblocking of any property blocked pursuant to the
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part
598; or
(2) Any transactions or dealings otherwise prohibited by any
Executive order or any other part of 31 CFR chapter V, or any
transactions or dealings with any individual or entity other than
Balboa Securities, Corp. that is listed on the Office of Foreign
Assets Control's List of Specially Designated Nationals or Blocked
Persons or that otherwise constitutes a person whose property and
interests in property are blocked.
(c) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
transactions, to file a report on the transactions, including the
parties involved, the type and scope of activities conducted, and
the dates of the activities, with the Office of Foreign Assets
Control, Sanctions Compliance & Evaluation Division, U.S. Department
of the Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank
Building, Washington, DC 20220. Reports may also be filed via email
to <a href="/cdn-cgi/l/email-protection#327d7473716057425d404672464057534147404b1c555d44"><span class="__cf_email__" data-cfemail="5e11181f1d0c3b2e312c2a1e2a2c3b3f2d2b2c2770393128">[email protected]</span></a>.
(d) Unless extended or revoked, this authorization expires at
12:01 a.m. eastern daylight time, June 14, 2016.
Note to paragraph (d): Grounds for revocation include: (1)
suspension or termination of the Panamanian government's
intervention in Balboa Securities, Corp.;
(2) return of control, directly or indirectly, to any Specially
Designated National (SDN); or (3) return of assets to any SDN.
John E. Smith,
Acting Director, Office of Foreign Assets Control.
Dated: May 13, 2016.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598
GENERAL LICENSE NO. 6A
Authorizing Certain Transactions and Activities Related to the
Intervention by the Superintendency of Securities Markets of Panama in
Balboa Securities, Corp.
(a) General License No. 6, dated May 13, 2016, is replaced and
superseded in its entirety by this General License No. 6A.
(b) Except as provided in paragraph (c), all transactions and
activities otherwise prohibited by the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901-1908, and the Foreign Narcotics
Kingpin Sanctions Regulations, 31 CFR part 598, that are necessary
for the inventory of assets and liabilities, and development of a
final report, on Balboa Securities, Corp., by the administrator
appointed by the Superintendency of Securities Markets of Panama
(Superintendencia del Mercados de Valores de Panama)
(Superintendency) pursuant to applicable Panamanian law following
the intervention by the Superintendency in the Panamanian securities
firm, Balboa Securities, Corp., are authorized, including the
exportation, reexportation, or provision, directly or indirectly, of
the following:
(1) Software, hardware, and related services, including
information technology management services;
(2) Goods and services related to securities firm
administration, building maintenance, and building operations; and
(3) Auditing, consulting, legal, and other professional
services.
(c) This general license does not authorize:
(1) The unblocking of any property blocked pursuant to the
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part
598; or
(2) Any transactions or dealings otherwise prohibited by any
Executive order or any other part of 31 CFR chapter V, or any
transactions or dealings with any individual or entity other than
Balboa Securities, Corp. that is listed on the Office of Foreign
Assets Control's List of Specially Designated Nationals or Blocked
Persons or that otherwise constitutes a person whose property and
interests in property are blocked.
(d) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
transactions, to file a report on the transactions, including the
parties involved, the type and scope of activities conducted, and
the dates of the activities, with the Office of Foreign Assets
Control, Sanctions Compliance & Evaluation Division, U.S. Department
of the Treasury, 1500
[[Page 73646]]
Pennsylvania Avenue NW, Freedman's Bank Building, Washington, DC
20220. Reports may also be filed via email to
<a href="/cdn-cgi/l/email-protection#155a5354564770657a676155616770746660676c3b727a63"><span class="__cf_email__" data-cfemail="723d3433312017021d000632060017130107000b5c151d04">[email protected]</span></a>.
(e) Unless extended or revoked, this authorization expires at
12:01 a.m. eastern daylight time, July 22, 2016.
Note to paragraph (e): Grounds for revocation include: (1)
suspension or termination of the Panamanian government's
intervention in Balboa Securities, Corp.; (2) return of control,
directly or indirectly, to any Specially Designated National (SDN);
or (3) return of assets to any SDN.
Gregory T. Gatjanis,
Acting Director, Office of Foreign Assets Control.
Dated: June 10, 2016.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598
GENERAL LICENSE NO. 6B
Authorizing Certain Transactions and Activities Related to the
Intervention by the Superintendency of Securities Markets of Panama in
Balboa Securities, Corp.
(a) General License No. 6A, dated June 10, 2016, is replaced and
superseded in its entirety by this General License No. 6B.
(b) Except as provided in paragraph (c), all transactions and
activities otherwise prohibited by the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901-1908, and the Foreign Narcotics
Kingpin Sanctions Regulations, 31 CFR part 598, that are necessary
during the reorganization of Balboa Securities, Corp. (Balboa
Securities) by the Superintendency of Securities Markets of Panama
(Superintendencia del Mercados de Valores de Panama)
(Superintendency) and the reorganizer appointed by the
Superintendency pursuant to applicable Panamanian law following the
intervention by the Superintendency, for the inventory of assets and
liabilities of Balboa Securities or to facilitate, negotiate, or
agree to Balboa Securities' reorganization and any related sale,
disposition, or transfer, are authorized, including the exportation,
re-exportation, or provision, directly or indirectly, of the
following:
(1) Software, hardware, and related services, including
information technology management services;
(2) Goods and services related to securities firm employment and
administration, as well as building maintenance and building
operations; and
(3) Auditing, consulting, legal, investment banking, and other
professional services.
(c) This general license does not authorize:
(1) The unblocking of any property blocked pursuant to the
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part
598;
(2) Any transactions or activities otherwise prohibited by any
Executive order or any other part of 31 CFR chapter V, or any
transactions or activities with any individual or entity other than
Balboa Securities that is listed on the Office of Foreign Assets
Control's List of Specially Designated Nationals and Blocked Persons
or that otherwise constitutes a person whose property and interests
in property are blocked; or
(3) Any transactions or activities to finalize, close, or
exchange assets or any other thing of value related to the sale,
disposition, or transfer of Balboa Securities.
Note to paragraph (c)(3): In the event a transaction or activity
to finalize, close, or exchange assets or any other thing of value
related to the sale, disposition, or transfer of Balboa Securities
involves a U.S. person or is otherwise subject to U.S. jurisdiction,
a separate license from the Office of Foreign Assets Control is
required.
(d) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
transactions, to file a report on the transactions, including the
parties involved, the type and scope of activities conducted, and
the dates of the activities, with the Office of Foreign Assets
Control, Sanctions Compliance & Evaluation Division, U.S. Department
of the Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank
Building, Washington, DC 20220. Reports may also be filed via email
to <a href="/cdn-cgi/l/email-protection#ca858c8b8998afbaa5b8be8abeb8afabb9bfb8b3e4ada5bc"><span class="__cf_email__" data-cfemail="d9969f989a8bbca9b6abad99adabbcb8aaacaba0f7beb6af">[email protected]</span></a>.
(e) Unless extended or revoked, this authorization expires at
12:01 a.m. eastern daylight time, February 3, 2017.
Note to paragraph (e): Grounds for revocation include: (1)
suspension or termination of the Panamanian Government's
intervention in Balboa Securities; (2) return of control, directly
or indirectly, to any Specially Designated National (SDN); or (3)
return of assets to any SDN.
John E. Smith,
Acting Director, Office of Foreign Assets Control.
Dated: July 21, 2016.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598
GENERAL LICENSE NO. 6C
Authorizing Certain Transactions and Activities Related to the
Intervention by the Superintendency of Securities Markets of Panama in
Balboa Securities, Corp.
(a) General License No. 6B, dated July 21, 2016, is replaced and
superseded in its entirety by this General License No. 6C.
(b) Except as provided in paragraph (c), all transactions and
activities otherwise prohibited by the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901-1908, and the Foreign Narcotics
Kingpin Sanctions Regulations, 31 C.P.R. part 598, that are
necessary during the reorganization of Balboa Securities, Corp.
(Balboa Securities) by the Superintendency of Securities Markets of
Panama (Superintendencia del Mercados de Valores de Panama)
(Superintendency) and the reorganizer appointed by the
Superintendency pursuant to applicable Panamanian law following the
intervention by the Superintendency, for the inventory of assets and
liabilities of Balboa Securities or to facilitate, negotiate, or
agree to Balboa Securities' reorganization and any related sale,
disposition, or transfer, are authorized, including the exportation,
re-exportation, or provision, directly or indirectly, of the
following:
(1) Software, hardware, and related services, including
information technology management services;
(2) Goods and services related to securities firm employment and
administration, as well as building maintenance and building
operations; and
(3) Auditing, consulting, legal, investment banking, and other
professional services.
(c) This general license does not authorize:
(1) The unblocking of any property blocked pursuant to the
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part
598;
(2) Any transactions or activities otherwise prohibited by any
Executive order or any other part of 31 CFR chapter V, or any
transactions or activities with any individual or entity other than
Balboa Securities that is listed on the Office of Foreign Assets
Control's List of Specially Designated Nationals and Blocked Persons
or that otherwise constitutes a person whose property and interests
in property are blocked; or
(3) Any transactions or activities to finalize, close, or
exchange assets or any other thing of value related to the sale,
disposition, or transfer of Balboa Securities.
Note to paragraph (c)(3): In the event a transaction or activity
to finalize, close, or exchange assets or any other thing of value
related to the sale, disposition, or transfer of Balboa Securities
involves a U.S. person or is otherwise subject to U.S. jurisdiction,
a separate license from the Office of Foreign Assets Control is
required.
(d) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
transactions, to file a report on the transactions, including the
parties involved, the type and scope of activities conducted, and
the dates of the activities, with the Office of Foreign Assets
Control, Sanctions Compliance & Evaluation Division, U.S. Department
of the Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank
Building, Washington, DC 20220. Reports may also be filed via email
to <a href="/cdn-cgi/l/email-protection#f2bdb4b3b1a097829d8086b2868097938187808bdc959d84"><span class="__cf_email__" data-cfemail="e0afa6a1a3b285908f9294a09492858193959299ce878f96">[email protected]</span></a>.
(e) Unless extended or revoked, this authorization expires at
12:01 a.m. eastern daylight time, April 7, 2017.
Note to paragraph (e): Grounds for revocation include: (1)
suspension or termination of the Panamanian Government's
intervention in Balboa Securities; (2) return of control, directly
or indirectly, to any Specially Designated National (SDN); or (3)
return of assets to any SDN.
Andrea Gacki,
Acting Director, Office of Foreign Assets Control.
Dated: February 1, 2017.
[[Page 73647]]
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598
GENERAL LICENSE NO. 7
Authorizing Certain Transactions and Activities Related to Importadora
Maduro, S.A., Maduro Internacional, S.A., and Lindo & Maduro, S.A.
(a) Except as provided in paragraph (b), all transactions and
activities otherwise prohibited by the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901-1908, and the Foreign Narcotics
Kingpin Sanctions Regulations, 31 CFR part 598, that are necessary
to (1) maintain operations or (2) facilitate, negotiate, or agree to
the sale, disposition, or transfer of Importadora Maduro, S.A.;
Maduro Internacional, S.A.; and Lindo & Maduro, S.A., following the
actions of the Government of Panama related to the temporary removal
of ownership and control by certain Specially Designated Narcotics
Traffickers, are authorized.
(b) This general license does not authorize:
(1) Any transactions or activities to finalize, close, or
exchange assets or any other thing of value related to the sale,
disposition, or transfer of Importadora Maduro, S.A.; Maduro
Internacional, S.A.; and Lindo & Maduro, S.A.;
Note to paragraph (b)(l): In the event a transaction or activity
to finalize, close, or exchange assets or any other thing of value
related to the sale, disposition, or transfer of lmportadora Maduro,
S.A.; Maduro Internacional, S.A.; and Lindo & Maduro, S.A. involves
a U.S. person or is otherwise subject to U.S. jurisdiction, a
separate license from the Office of Foreign Assets Control is
required.
(2) The unblocking of any property blocked pursuant to the
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part
598; or
(3) Any transactions or dealings otherwise prohibited by any
Executive order or any other part of 31 CFR chapter V, or any
transactions or dealings with any individual or entity other than
Importadora Maduro, S.A.; Maduro Internacional, S.A.; and Lindo &
Maduro, S.A., that is listed on the Office of Foreign Assets
Control's List of Specially Designated Nationals and Blocked Persons
or that otherwise constitutes a person whose property and interests
in property are blocked.
(c) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
activities conclude, to file a report on the transactions with the
Office of Foreign Assets Control, Sanctions Compliance & Evaluation
Division, U.S. Department of the Treasury, 1500 Pennsylvania Avenue
NW, Freedman's Bank Building, Washington, DC 20220. Such reports
shall include the following numbered sections and information:
(1) Estimated or actual dollar value of the transaction(s), as
determined by the value of the goods, services, or contract;
(2) The parties involved;
(3) The type and scope of activities conducted; and
(4) The dates and duration of the activities.
Reports may also be filed via email to <a href="/cdn-cgi/l/email-protection#a4ebe2e5e7f6c1d4cbd6d0e4d0d6c1c5d7d1d6dd8ac3cbd2"><span class="__cf_email__" data-cfemail="b4fbf2f5f7e6d1c4dbc6c0f4c0c6d1d5c7c1c6cd9ad3dbc2">[email protected]</span></a>.
(d) Unless extended or revoked, this authorization expires at
12:01 a.m. eastern daylight time, December 14, 2016.
John E. Smith,
Acting Director, Office of Foreign Assets Control.
Dated: June 14, 2016.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2022-26182 Filed 11-30-22; 8:45 am]
BILLING CODE 4810-AL-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on December 1, 2022.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.