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imported>Doug Williamson |
imported>Doug Williamson |
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| ''Sanctions''.
| | Generally Accepted Accounting Principles. |
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| The Blocking Regulation is a 1996 European Union (EU) Regulation which prohibits EU companies from complying with certain extraterritorial US sanctions.
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| <span style="color:#4B0082">'''''Managing conflicting rules'''''</span>
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| :"The US's reimposition of sanctions against Iran prompted the European Commission to expand the scope of the 1996 EU Blocking Regulation.
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| :The revised Blocking Regulation... in essence prohibits EU companies from complying with the reimposed US sanctions against Iran.
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| :The Blocking Regulation is often described as putting those within its scope (EU companies, nationals and others within the EU) between a rock and a hard place.
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| :Non-compliance may give rise to civil and, potentially, criminal penalties.
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| :However, the penalties for a non-US person failing to comply with the US's secondary sanctions can include being cut off from the US financial system - and being unable to deal with US persons."
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| :''The Treasurer, October 2018, p43 - Slaughter and May.''
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| | Pronounced 'gap'. |
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| == See also == | | == See also == |
| | | * [[Accounting policies]] |
| * [[European Commission]] | | * [[Generally accepted accounting principles]] |
| * [[European Union]]
| | * [[Frozen GAAP]] |
| * [[Regulation]] | | * [[IAS]] |
| * [[Sanctions]] | |
| * [[United States]] | |
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| [[Category:Accounting,_tax_and_regulation]]
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| [[Category:Ethics]]
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Revision as of 15:35, 17 January 2016
Generally Accepted Accounting Principles.
Pronounced 'gap'.
See also