Emma RadmoreOFSI has called for any firm holding assets of designated persons to submit the annual frozen assets report by 15 October, reporting on the value of all assets as of close of business on 30 September. As usual, the report must include details of all funds or economic resources frozen in the UK or overseas where they are subject to UK financial sanctions. For clarity, assets only subject to other countries’ sanctions need not be reported, and firms do not need to submit a nil return unless they held frozen assets in the previous reporting period.
