Senior lawyers have warned that recent regulatory
developments are complicating bond execution and documentation,
making it slower and less efficient.
Anti money laundering and the Office of Foreign
Assets Control (Ofac) were named as particular challenges for international finance.
Ofac administers and enforces
economic and trade sanctions based on US foreign policy and
national security goals. The Office imposes controls on
transactions and freezes assets under US
But Bruce Duncan of Citigroup said that international
banks focus isnt just on Ofac, there are EU
sanctions to consider too. The UK also has its own sanctions.