A proposal that would empower U.K. officials to blacklist human rights abusers anywhere in the world and confiscate their assets may be scuppered by the government's reluctance to impose new responsibilities on banks ahead of Brexit, a British parliamentarian said Tuesday.
British officials are in the early stages of considering whether to retain links to the European Union's sanctions after the United Kingdom exits the bloc, whose asset freezes and travel bans often don't survive judicial scrutiny.
Britain's historic vote to quit the European Union is likely to result in only modest changes to the country's efforts to fight financial crime and coordinate economic sanctions, at least in the short term.
Great Britain's newly formed financial sanctions unit that is part of HM Treasury has its first supervisor, Rena Lalgie, who joins the agency in conjunction with a push by the U.K. to enforce a tougher financial sanctions regime.
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