OFAC Issues Panama General License
The Office of Foreign Assets Control issued a general license under “Kingpin Act/Panama” on July 1, OFAC said (here). General License 4C authorizes certain transactions involving individuals or entities in the Kingpin Act-designated Soho Mall Panama and “associated complex” to…
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"wind down" operations, maintain the mall complex, conduct activities with non-designated financial institutions, and accept payments by non-designated people and entities, OFAC said. U.S. persons participating in newly authorized "wind down" and maintenance transactions must file a report on the activities with OFAC within 10 business days after they conclude, according to the general license (here). General License 4C supersedes related General License 4B, which OFAC issued June 10 (see 1606130056).