Publication of Foreign Narcotics Kingpin Sanctions Regulations Web General Licenses 5, 6, and 7 and Subsequent Iterations, 73643-73647 [2022-26182]
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Federal Register / Vol. 87, No. 230 / Thursday, December 1, 2022 / Rules and Regulations
the sale, disposition, or transfer of Soho Mall
Panama or Westline Enterprises, Inc.,
provided the transactions or activities do not
otherwise involve any SDN.
Note to paragraph (b)(5): In the event a
transaction or activity to facilitate, negotiate,
or agree to the sale, disposition, or transfer
of Soho Mall Panama or Westline
Enterprises, Inc. involves a U.S. person or is
otherwise subject to U.S. jurisdiction, and
involves any SDN other than Soho Mall
Panama or Westline Enterprises, Inc., a
separate license from the Office of Foreign
Assets Control is required.
(c) This general license does not authorize:
(1) The unblocking of any accounts
blocked pursuant to the Foreign Narcotics
Kingpin Designation Act, 21 U.S.C. 1901–
1908, and the Foreign Narcotics Kingpin
Sanctions Regulations, 31 CFR part 598;
(2) Any transactions or activities to
finalize, close, or exchange assets or any
other thing of value related to the sale,
disposition, or transfer of Soho Mall Panama
or Westline Enterprises, Inc.; or
Note to paragraph (c)(2): In the event a
transaction or activity to finalize, close, or
exchange assets or any other thing of value
related to the sale, disposition, or transfer of
Soho Mall Panama or Westline Enterprises,
Inc. involves a U.S. person or is otherwise
subject to U.S. jurisdiction, a separate license
from the Office of Foreign Assets Control is
required.
(3) Any transactions or dealings otherwise
prohibited by any Executive order or any
other part of 31 CFR chapter V, or with any
individual or entity, including any property
or interest in property of such individual or
entity, that is listed on the Office of Foreign
Assets Control’s List of Specially Designated
Nationals or Blocked Persons or that
otherwise constitutes a person whose
property and interests in property are
blocked other than the limited transactions
with the entities Soho Mall Panama, Westline
Enterprises, Inc., or other SDNs located in
Soho Mall Panama, that are authorized in
paragraphs (b)(l)–(b)(5).
(d) U.S. persons participating in
transactions authorized by or related to
paragraphs (b)(l), (b)(2), or (b)(5) of this
general license are required, within 10
business days after the activities conclude, to
file a report on the transactions with the
Office of Foreign Assets Control, Sanctions
Compliance & Evaluation Division, U.S.
Department of the Treasury, 1500
Pennsylvania Avenue NW, Freedman’s Bank
Building, Washington, DC 20220. Such
reports shall include the following numbered
sections and information:
(1) Estimated or actual dollar value of the
transaction(s), as determined by the value of
the goods, services, or contract;
(2) The parties involved;
(3) The type and scope of activities
conducted; and
(4) The dates and duration of the activities.
Reports may also be filed via email to
OFACReport@treasury.gov.
Andrea Gacki,
Acting Director, Office of Foreign Assets
Control.
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15:55 Nov 30, 2022
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Dated: April 27, 2017.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2022–26200 Filed 11–30–22; 8:45 am]
BILLING CODE 4810–AL–P
73643
Each of these GLs is now expired.
Each GL was made available on OFAC’s
website (www.treas.gov/ofac) when it
was issued. The text of these GLs is
provided below.
OFFICE OF FOREIGN ASSETS CONTROL
DEPARTMENT OF THE TREASURY
Foreign Narcotics Kingpin Sanctions
Regulations 31 CFR Part 598
Office of Foreign Assets Control
GENERAL LICENSE NO. 5
31 CFR Part 598
Publication of Foreign Narcotics
Kingpin Sanctions Regulations Web
General Licenses 5, 6, and 7 and
Subsequent Iterations
Office of Foreign Assets
Control, Treasury.
ACTION: Publication of web general
licenses.
AGENCY:
The Department of the
Treasury’s Office of Foreign Assets
Control (OFAC) is publishing nine
general licenses (GLs) issued pursuant
to the Foreign Narcotics Kingpin
Sanctions Regulations: GLs 5, 5A, 5B,
5C, 6, 6A, 6B, 6C, and 7, each of which
was previously made available on
OFAC’s website.
DATES: GL 5 was issued on May 13,
2016. See SUPPLEMENTARY INFORMATION
for additional relevant dates.
FOR FURTHER INFORMATION CONTACT:
OFAC: Assistant Director for Licensing,
202–622–2480; Assistant Director for
Regulatory Affairs, 202–622–4855; or
Assistant Director for Sanctions
Compliance & Evaluation, 202–622–
2490.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Electronic Availability
This document and additional
information concerning OFAC are
available on OFAC’s website:
www.treas.gov/ofac.
Background
On May 13, 2016, OFAC issued GLs
5 and 6 to authorize certain transactions
otherwise prohibited by the Foreign
Narcotics Kingpin Sanctions
Regulations, 31 CFR part 598. At the
time of issuance, OFAC made GLs 5 and
6 available on its website
(www.treas.gov/ofac). Subsequently,
OFAC issued three further iterations of
GLs 5 and 6: on June 10, 2016, OFAC
issued GLs 5A and 6A, which
superseded GLs 5 and 6 respectively; on
July 21, 2016, OFAC issued GLs 5B and
6B, which superseded GLs 5A and 6A,
respectively; and on February 1, 2017,
OFAC issued GLs 5C and 6C, which
superseded GLs 5B and 6B, respectively.
On June 14, 2016, OFAC issued GL 7.
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Authorizing Certain Transactions and
Activities Related to the Panamanian
Government Seizure of Balboa Bank & Trust
(a) Except as provided in paragraph (b), all
transactions and activities otherwise
prohibited by the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901–1908, and
the Foreign Narcotics Kingpin Sanctions
Regulations, 31 CFR part 598, that are
necessary for analysis of, and
recommendations regarding, the financial
viability of Balboa Bank & Trust by the
administrator appointed by the
Superintendency of Banking of Panama
(Superintendencia de Bancos de Panama)
pursuant to applicable Panamanian law
following the seizure of the Panamanian
bank, Balboa Bank & Trust, are authorized,
including the exportation, reexportation, or
provision, directly or indirectly, of the
following:
(1) Software, hardware, and related
services, including information technology
management services;
(2) Goods and services related to bank
administration, building maintenance, and
building operations; and
(3) Auditing, consulting, legal, and other
professional services.
(b) This general license does not authorize:
(1) The unblocking of any property blocked
pursuant to the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901–1908, and
the Foreign Narcotics Kingpin Sanctions
Regulations, 31 CFR part 598; or
(2) Any transactions or dealings otherwise
prohibited by any Executive order or any
other part of 31 CFR chapter V, or any
transactions or dealings with any individual
or entity other than Balboa Bank & Trust that
is listed on the Office of Foreign Assets
Control’s List of Specially Designated
Nationals or Blocked Persons or that
otherwise constitutes a person whose
property and interests in property are
blocked.
(c) U.S. persons participating in
transactions authorized by this general
license are required, within 10 business days
after the transactions, to file a report on the
transactions, including the parties involved,
the type and scope of activities conducted,
and the dates of the activities, with the Office
of Foreign Assets Control, Sanctions
Compliance & Evaluation Division, U.S.
Department of the Treasury, 1500
Pennsylvania Avenue NW, Freedman’s Bank
Building, Washington, DC 20220. Reports
may also be filed via email to OFACReport@
treasury.gov.
(d) Unless extended or revoked, this
authorization expires at 12:01 a.m. eastern
daylight time, June 14, 2016.
Note to paragraph (d): Grounds for
revocation include: (1) suspension or
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73644
Federal Register / Vol. 87, No. 230 / Thursday, December 1, 2022 / Rules and Regulations
termination of the Panamanian government’s
seizure of administrative and operating
control of Balboa Bank & Trust; (2) return of
control, directly or indirectly, to any
Specially Designated National (SDN); or (3)
return of assets to any SDN.
John E. Smith,
Acting Director, Office of Foreign Assets
Control.
Dated: May 13, 2016.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions
Regulations 31 CFR Part 598
khammond on DSKJM1Z7X2PROD with RULES
GENERAL LICENSE NO. 5A
Authorizing Certain Transactions and
Activities Related to the Panamanian
Government Seizure of Balboa Bank & Trust
(a) General License No. 5, dated May 13,
2016, is replaced and superseded in its
entirety by this General License No. 5A.
(b) Except as provided in paragraph (c), all
transactions and activities otherwise
prohibited by the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901–1908, and
the Foreign Narcotics Kingpin Sanctions
Regulations, 31 CFR part 598, that are
necessary for analysis of, and
recommendations regarding, the financial
viability of Balboa Bank & Trust by the
administrator appointed by the
Superintendency of Banking of Panama
(Superintendencia de Bancos de Panama)
pursuant to applicable Panamanian law
following the seizure of the Panamanian
bank, Balboa Bank & Trust, are authorized,
including the exportation, reexportation, or
provision, directly or indirectly, of the
following:
(1) Software, hardware, and related
services, including information technology
management services;
(2) Goods and services related to bank
administration, building maintenance, and
building operations; and
(3) Auditing, consulting, legal, and other
professional services.
(c) This general license does not authorize:
(1) The unblocking of any property blocked
pursuant to the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901–1908, and
the Foreign Narcotics Kingpin Sanctions
Regulations, 31 CFR part 598; or
(2) Any transactions or dealings otherwise
prohibited by any Executive order or any
other part of 31 CFR chapter V, or any
transactions or dealings with any individual
or entity other than Balboa Bank & Trust that
is listed on the Office of Foreign Assets
Control’s List of Specially Designated
Nationals or Blocked Persons or that
otherwise constitutes a person whose
property and interests in property are
blocked.
(d) U.S. persons participating in
transactions authorized by this general
license are required, within 10 business days
after the transactions, to file a report on the
transactions, including the parties involved,
the type and scope of activities conducted,
and the dates of the activities, with the Office
of Foreign Assets Control, Sanctions
Compliance & Evaluation Division, U.S.
Department of the Treasury, 1500
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15:55 Nov 30, 2022
Jkt 259001
Pennsylvania Avenue NW, Freedman’s Bank
Building, Washington, DC 20220. Reports
may also be filed via email to OFACReport@
treasury.gov.
(e) Unless extended or revoked, this
authorization expires at 12:01 a.m. eastern
daylight time, July 22, 2016.
Note to paragraph (e): Grounds for
revocation include: (1) suspension or
termination of the Panamanian government’s
seizure of administrative and operating
control of Balboa Bank & Trust; (2) return of
control, directly or indirectly, to any
Specially Designated National (SDN); or (3)
return of assets to any SDN.
Gregory T. Gatjanis,
Acting Director, Office of Foreign Assets
Control.
Dated: June 10, 2016.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions
Regulations 31 CFR Part 598
GENERAL LICENSE NO. 5B
Authorizing Certain Transactions and
Activities Related to the Panamanian
Government Seizure of Balboa Bank & Trust
(a) General License No. 5A, dated June 10,
2016, is replaced and superseded in its
entirety by this General License No. 5B.
(b) Except as provided in paragraph (c), the
following transactions and activities
otherwise prohibited by the Foreign
Narcotics Kingpin Designation Act, 21 U.S.C.
1901–1908, and the Foreign Narcotics
Kingpin Sanctions Regulations, 31 CFR part
598, are authorized:
(1) Transactions and activities that are
necessary during the reorganization of Balboa
Bank & Trust (Balboa Bank) by the
Superintendency of Banking of Panama
(Superintendencia de Bancos de Panama)
(Superintendency) and the reorganizer
appointed by the Superintendency pursuant
to applicable Panamanian law following
Balboa Bank’s seizure by the
Superintendency, for the analysis of, and
recommendations regarding, financial
viability and reorganization, or to facilitate,
negotiate, or agree to Balboa Bank’s
reorganization and any related sale,
disposition, or transfer, including the
exportation, re-exportation, or provision,
directly or indirectly, of the following:
(i) Software, hardware, and related
services, including information technology
management services;
(ii) Goods and services related to bank
employment and administration, as well as
building maintenance and building
operations; and
(iii) Auditing, consulting, legal, investment
banking, and other professional services.
(2) Transactions and activities related to
payments on loans and other obligations, in
effect prior to May 5, 2016, by any nondesignated Balboa Bank customers to Balboa
Bank, provided such payments are remitted
to the account established at Banco Nacional
de Panama by the Superintendency.
(c) This general license does not authorize:
(1) The unblocking of any property blocked
pursuant to the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901–1908, and
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Frm 00022
Fmt 4700
Sfmt 4700
the Foreign Narcotics Kingpin Sanctions
Regulations, 31 CFR part 598;
(2) Any transactions or activities otherwise
prohibited by any Executive order or any
other part of 31 CFR chapter V, or any
transactions or activities with any individual
or entity other than Balboa Bank that is listed
on the Office of Foreign Assets Control’s List
of Specially Designated Nationals and
Blocked Persons or that otherwise constitutes
a person whose property and interests in
property are blocked; or
(3) Any transactions or activities to
finalize, close, or exchange assets or any
other thing of value related to the sale,
disposition, or transfer of Balboa Bank.
Note to paragraph (c)(3): In the event a
transaction or activity to finalize, close, or
exchange assets or any other thing of value
related to the sale, disposition, or transfer of
Balboa Bank involves a U.S. person or is
otherwise subject to U.S. jurisdiction, a
separate license from the Office of Foreign
Assets Control is required.
(d) U.S. persons participating in
transactions authorized by this general
license are required, within 10 business days
after the transactions, to file a report on the
transactions, including the parties involved,
the type and scope of activities conducted,
and the dates of the activities, with the Office
of Foreign Assets Control, Sanctions
Compliance & Evaluation Division, U.S.
Department of the Treasury, 1500
Pennsylvania Avenue NW, Freedman’s Bank
Building, Washington, DC 20220. Reports
may also be filed via email to OFACReport@
treasury.gov.
(e) Unless extended or revoked, this
authorization expires at 12:01 a.m. eastern
daylight time, February 3, 2017.
Note to paragraph (e): Grounds for
revocation include: (1) suspension or
termination of the Panamanian Government’s
seizure of administrative and operating
control of Balboa Bank; (2) return of control,
directly or indirectly, to any Specially
Designated National (SDN); or (3) return of
assets to any SDN.
John E. Smith,
Acting Director, Office of Foreign Assets
Control.
Dated: July 21, 2016.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions
Regulations 31 CFR Part 598
GENERAL LICENSE NO. 5C
Authorizing Certain Transactions and
Activities Related to the Panamanian
Government Seizure of Balboa Bank & Trust
(a) General License No. 5B, dated July 21,
2016, is replaced and superseded in its
entirety by this General License No. 5C.
(b) Except as provided in paragraph (c), the
following transactions and activities
otherwise prohibited by the Foreign
Narcotics Kingpin Designation Act, 21 U.S.C.
1901–1908, and the Foreign Narcotics
Kingpin Sanctions Regulations, 31 CFR part
598, are authorized:
(1) Transactions and activities that are
necessary during the reorganization of Balboa
Bank & Trust (Balboa Bank) by the
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01DER1
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Federal Register / Vol. 87, No. 230 / Thursday, December 1, 2022 / Rules and Regulations
Superintendency of Banking of Panama
(Superintendencia de Bancos de Panama)
(Superintendency) and the reorganizer
appointed by the Superintendency pursuant
to applicable Panamanian law following
Balboa Bank’s seizure by the
Superintendency, for the analysis of, and
recommendations regarding, financial
viability and reorganization, or to facilitate,
negotiate, or agree to Balboa Bank’s
reorganization and any related sale,
disposition, or transfer, including the
exportation, re-exportation, or provision,
directly or indirectly, of the following:
(i) Software, hardware, and related
services, including information technology
management services;
(ii) Goods and services related to bank
employment and administration, as well as
building maintenance and building
operations; and
(iii) Auditing, consulting, legal, investment
banking, and other professional services.
(2) Transactions and activities related to
payments on loans and other obligations, in
effect prior to May 5, 2016, by any nondesignated Balboa Bank customers to Balboa
Bank, provided such payments are remitted
to the account established at Banco Nacional
de Panama by the Superintendency.
(c) This general license does not authorize:
(1) The unblocking of any property blocked
pursuant to the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901–1908, and
the Foreign Narcotics Kingpin Sanctions
Regulations, 31 CFR part 598;
(2) Any transactions or activities otherwise
prohibited by any Executive order or any
other part of 31 CFR chapter V, or any
transactions or activities with any individual
or entity other than Balboa Bank that is listed
on the Office of Foreign Assets Control’s List
of Specially Designated Nationals and
Blocked Persons or that otherwise constitutes
a person whose property and interests in
property are blocked; or
(3) Any transactions or activities to
finalize, close, or exchange assets or any
other thing of value related to the sale,
disposition, or transfer of Balboa Bank.
Note to paragraph (c)(3): In the event a
transaction or activity to finalize, close, or
exchange assets or any other thing of value
related to the sale, disposition, or transfer of
Balboa Bank involves a U.S. person or is
otherwise subject to U.S. jurisdiction, a
separate license from the Office of Foreign
Assets Control is required.
(d) U.S. persons participating in
transactions authorized by this general
license are required, within 10 business days
after the transactions, to file a report on the
transactions, including the parties involved,
the type and scope of activities conducted,
and the dates of the activities, with the Office
of Foreign Assets Control, Sanctions
Compliance & Evaluation Division, U.S.
Department of the Treasury, 1500
Pennsylvania Avenue NW, Freedman’s Bank
Building, Washington, DC 20220. Reports
may also be filed via email to OFACReport@
treasury.gov.
Andrea Gacki,
Acting Director, Office of Foreign Assets
Control.
Dated: February 1, 2017.
VerDate Sep<11>2014
15:55 Nov 30, 2022
Jkt 259001
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions
Regulations 31 CFR Part 598
GENERAL LICENSE NO. 6
Authorizing Certain Transactions and
Activities Related to the Intervention by the
Superintendency of Securities Markets of
Panama in Balboa Securities, Corp.
(a) Except as provided in paragraph (b), all
transactions and activities otherwise
prohibited by the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901–1908, and
the Foreign Narcotics Kingpin Sanctions
Regulations, 31 CFR part 598, that are
necessary for the inventory of assets and
liabilities, and development of a final report,
on Balboa Securities, Corp., by the
administrator appointed by the
Superintendency of Securities Markets of
Panama (Superintendencia del Mercados de
Valores de Panama) (Superintendency)
pursuant to applicable Panamanian law
following the intervention by the
Superintendency in the Panamanian
securities firm, Balboa Securities, Corp., are
authorized, including the exportation,
reexportation, or provision, directly or
indirectly, of the following:
(1) Software, hardware, and related
services, including information technology
management services;
(2) Goods and services related to securities
firm administration, building maintenance,
and building operations; and
(3) Auditing, consulting, legal, and other
professional services.
(b) This general license does not authorize:
(1) The unblocking of any property blocked
pursuant to the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901–1908, and
the Foreign Narcotics Kingpin Sanctions
Regulations, 31 CFR part 598; or
(2) Any transactions or dealings otherwise
prohibited by any Executive order or any
other part of 31 CFR chapter V, or any
transactions or dealings with any individual
or entity other than Balboa Securities, Corp.
that is listed on the Office of Foreign Assets
Control’s List of Specially Designated
Nationals or Blocked Persons or that
otherwise constitutes a person whose
property and interests in property are
blocked.
(c) U.S. persons participating in
transactions authorized by this general
license are required, within 10 business days
after the transactions, to file a report on the
transactions, including the parties involved,
the type and scope of activities conducted,
and the dates of the activities, with the Office
of Foreign Assets Control, Sanctions
Compliance & Evaluation Division, U.S.
Department of the Treasury, 1500
Pennsylvania Avenue NW, Freedman’s Bank
Building, Washington, DC 20220. Reports
may also be filed via email to OFACReport@
treasury.gov.
(d) Unless extended or revoked, this
authorization expires at 12:01 a.m. eastern
daylight time, June 14, 2016.
Note to paragraph (d): Grounds for
revocation include: (1) suspension or
termination of the Panamanian government’s
intervention in Balboa Securities, Corp.;
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Sfmt 4700
73645
(2) return of control, directly or indirectly,
to any Specially Designated National (SDN);
or (3) return of assets to any SDN.
John E. Smith,
Acting Director, Office of Foreign Assets
Control.
Dated: May 13, 2016.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions
Regulations 31 CFR Part 598
GENERAL LICENSE NO. 6A
Authorizing Certain Transactions and
Activities Related to the Intervention by the
Superintendency of Securities Markets of
Panama in Balboa Securities, Corp.
(a) General License No. 6, dated May 13,
2016, is replaced and superseded in its
entirety by this General License No. 6A.
(b) Except as provided in paragraph (c), all
transactions and activities otherwise
prohibited by the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901–1908, and
the Foreign Narcotics Kingpin Sanctions
Regulations, 31 CFR part 598, that are
necessary for the inventory of assets and
liabilities, and development of a final report,
on Balboa Securities, Corp., by the
administrator appointed by the
Superintendency of Securities Markets of
Panama (Superintendencia del Mercados de
Valores de Panama) (Superintendency)
pursuant to applicable Panamanian law
following the intervention by the
Superintendency in the Panamanian
securities firm, Balboa Securities, Corp., are
authorized, including the exportation,
reexportation, or provision, directly or
indirectly, of the following:
(1) Software, hardware, and related
services, including information technology
management services;
(2) Goods and services related to securities
firm administration, building maintenance,
and building operations; and
(3) Auditing, consulting, legal, and other
professional services.
(c) This general license does not authorize:
(1) The unblocking of any property blocked
pursuant to the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901–1908, and
the Foreign Narcotics Kingpin Sanctions
Regulations, 31 CFR part 598; or
(2) Any transactions or dealings otherwise
prohibited by any Executive order or any
other part of 31 CFR chapter V, or any
transactions or dealings with any individual
or entity other than Balboa Securities, Corp.
that is listed on the Office of Foreign Assets
Control’s List of Specially Designated
Nationals or Blocked Persons or that
otherwise constitutes a person whose
property and interests in property are
blocked.
(d) U.S. persons participating in
transactions authorized by this general
license are required, within 10 business days
after the transactions, to file a report on the
transactions, including the parties involved,
the type and scope of activities conducted,
and the dates of the activities, with the Office
of Foreign Assets Control, Sanctions
Compliance & Evaluation Division, U.S.
Department of the Treasury, 1500
E:\FR\FM\01DER1.SGM
01DER1
73646
Federal Register / Vol. 87, No. 230 / Thursday, December 1, 2022 / Rules and Regulations
Pennsylvania Avenue NW, Freedman’s Bank
Building, Washington, DC 20220. Reports
may also be filed via email to OFACReport@
treasury.gov.
(e) Unless extended or revoked, this
authorization expires at 12:01 a.m. eastern
daylight time, July 22, 2016.
Note to paragraph (e): Grounds for
revocation include: (1) suspension or
termination of the Panamanian government’s
intervention in Balboa Securities, Corp.; (2)
return of control, directly or indirectly, to
any Specially Designated National (SDN); or
(3) return of assets to any SDN.
Gregory T. Gatjanis,
Acting Director, Office of Foreign Assets
Control.
Dated: June 10, 2016.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions
Regulations 31 CFR Part 598
khammond on DSKJM1Z7X2PROD with RULES
GENERAL LICENSE NO. 6B
Authorizing Certain Transactions and
Activities Related to the Intervention by the
Superintendency of Securities Markets of
Panama in Balboa Securities, Corp.
(a) General License No. 6A, dated June 10,
2016, is replaced and superseded in its
entirety by this General License No. 6B.
(b) Except as provided in paragraph (c), all
transactions and activities otherwise
prohibited by the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901–1908, and
the Foreign Narcotics Kingpin Sanctions
Regulations, 31 CFR part 598, that are
necessary during the reorganization of Balboa
Securities, Corp. (Balboa Securities) by the
Superintendency of Securities Markets of
Panama (Superintendencia del Mercados de
Valores de Panama) (Superintendency) and
the reorganizer appointed by the
Superintendency pursuant to applicable
Panamanian law following the intervention
by the Superintendency, for the inventory of
assets and liabilities of Balboa Securities or
to facilitate, negotiate, or agree to Balboa
Securities’ reorganization and any related
sale, disposition, or transfer, are authorized,
including the exportation, re-exportation, or
provision, directly or indirectly, of the
following:
(1) Software, hardware, and related
services, including information technology
management services;
(2) Goods and services related to securities
firm employment and administration, as well
as building maintenance and building
operations; and
(3) Auditing, consulting, legal, investment
banking, and other professional services.
(c) This general license does not authorize:
(1) The unblocking of any property blocked
pursuant to the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901–1908, and
the Foreign Narcotics Kingpin Sanctions
Regulations, 31 CFR part 598;
(2) Any transactions or activities otherwise
prohibited by any Executive order or any
other part of 31 CFR chapter V, or any
transactions or activities with any individual
or entity other than Balboa Securities that is
listed on the Office of Foreign Assets
Control’s List of Specially Designated
VerDate Sep<11>2014
15:55 Nov 30, 2022
Jkt 259001
Nationals and Blocked Persons or that
otherwise constitutes a person whose
property and interests in property are
blocked; or
(3) Any transactions or activities to
finalize, close, or exchange assets or any
other thing of value related to the sale,
disposition, or transfer of Balboa Securities.
Note to paragraph (c)(3): In the event a
transaction or activity to finalize, close, or
exchange assets or any other thing of value
related to the sale, disposition, or transfer of
Balboa Securities involves a U.S. person or
is otherwise subject to U.S. jurisdiction, a
separate license from the Office of Foreign
Assets Control is required.
(d) U.S. persons participating in
transactions authorized by this general
license are required, within 10 business days
after the transactions, to file a report on the
transactions, including the parties involved,
the type and scope of activities conducted,
and the dates of the activities, with the Office
of Foreign Assets Control, Sanctions
Compliance & Evaluation Division, U.S.
Department of the Treasury, 1500
Pennsylvania Avenue NW, Freedman’s Bank
Building, Washington, DC 20220. Reports
may also be filed via email to OFACReport@
treasury.gov.
(e) Unless extended or revoked, this
authorization expires at 12:01 a.m. eastern
daylight time, February 3, 2017.
Note to paragraph (e): Grounds for
revocation include: (1) suspension or
termination of the Panamanian Government’s
intervention in Balboa Securities; (2) return
of control, directly or indirectly, to any
Specially Designated National (SDN); or (3)
return of assets to any SDN.
John E. Smith,
Acting Director, Office of Foreign Assets
Control.
Dated: July 21, 2016.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions
Regulations 31 CFR Part 598
GENERAL LICENSE NO. 6C
Authorizing Certain Transactions and
Activities Related to the Intervention by the
Superintendency of Securities Markets of
Panama in Balboa Securities, Corp.
(a) General License No. 6B, dated July 21,
2016, is replaced and superseded in its
entirety by this General License No. 6C.
(b) Except as provided in paragraph (c), all
transactions and activities otherwise
prohibited by the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901–1908, and
the Foreign Narcotics Kingpin Sanctions
Regulations, 31 C.P.R. part 598, that are
necessary during the reorganization of Balboa
Securities, Corp. (Balboa Securities) by the
Superintendency of Securities Markets of
Panama (Superintendencia del Mercados de
Valores de Panama) (Superintendency) and
the reorganizer appointed by the
Superintendency pursuant to applicable
Panamanian law following the intervention
by the Superintendency, for the inventory of
assets and liabilities of Balboa Securities or
to facilitate, negotiate, or agree to Balboa
Securities’ reorganization and any related
PO 00000
Frm 00024
Fmt 4700
Sfmt 4700
sale, disposition, or transfer, are authorized,
including the exportation, re-exportation, or
provision, directly or indirectly, of the
following:
(1) Software, hardware, and related
services, including information technology
management services;
(2) Goods and services related to securities
firm employment and administration, as well
as building maintenance and building
operations; and
(3) Auditing, consulting, legal, investment
banking, and other professional services.
(c) This general license does not authorize:
(1) The unblocking of any property blocked
pursuant to the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901–1908, and
the Foreign Narcotics Kingpin Sanctions
Regulations, 31 CFR part 598;
(2) Any transactions or activities otherwise
prohibited by any Executive order or any
other part of 31 CFR chapter V, or any
transactions or activities with any individual
or entity other than Balboa Securities that is
listed on the Office of Foreign Assets
Control’s List of Specially Designated
Nationals and Blocked Persons or that
otherwise constitutes a person whose
property and interests in property are
blocked; or
(3) Any transactions or activities to
finalize, close, or exchange assets or any
other thing of value related to the sale,
disposition, or transfer of Balboa Securities.
Note to paragraph (c)(3): In the event a
transaction or activity to finalize, close, or
exchange assets or any other thing of value
related to the sale, disposition, or transfer of
Balboa Securities involves a U.S. person or
is otherwise subject to U.S. jurisdiction, a
separate license from the Office of Foreign
Assets Control is required.
(d) U.S. persons participating in
transactions authorized by this general
license are required, within 10 business days
after the transactions, to file a report on the
transactions, including the parties involved,
the type and scope of activities conducted,
and the dates of the activities, with the Office
of Foreign Assets Control, Sanctions
Compliance & Evaluation Division, U.S.
Department of the Treasury, 1500
Pennsylvania Avenue NW, Freedman’s Bank
Building, Washington, DC 20220. Reports
may also be filed via email to OFACReport@
treasury.gov.
(e) Unless extended or revoked, this
authorization expires at 12:01 a.m. eastern
daylight time, April 7, 2017.
Note to paragraph (e): Grounds for
revocation include: (1) suspension or
termination of the Panamanian Government’s
intervention in Balboa Securities; (2) return
of control, directly or indirectly, to any
Specially Designated National (SDN); or (3)
return of assets to any SDN.
Andrea Gacki,
Acting Director, Office of Foreign Assets
Control.
Dated: February 1, 2017.
E:\FR\FM\01DER1.SGM
01DER1
Federal Register / Vol. 87, No. 230 / Thursday, December 1, 2022 / Rules and Regulations
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions
Regulations 31 CFR Part 598
khammond on DSKJM1Z7X2PROD with RULES
GENERAL LICENSE NO. 7
Authorizing Certain Transactions and
Activities Related to Importadora Maduro,
S.A., Maduro Internacional, S.A., and Lindo
& Maduro, S.A.
(a) Except as provided in paragraph (b), all
transactions and activities otherwise
prohibited by the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901–1908, and
the Foreign Narcotics Kingpin Sanctions
Regulations, 31 CFR part 598, that are
necessary to (1) maintain operations or (2)
facilitate, negotiate, or agree to the sale,
disposition, or transfer of Importadora
Maduro, S.A.; Maduro Internacional, S.A.;
and Lindo & Maduro, S.A., following the
actions of the Government of Panama related
to the temporary removal of ownership and
control by certain Specially Designated
Narcotics Traffickers, are authorized.
(b) This general license does not authorize:
(1) Any transactions or activities to
finalize, close, or exchange assets or any
other thing of value related to the sale,
disposition, or transfer of Importadora
Maduro, S.A.; Maduro Internacional, S.A.;
and Lindo & Maduro, S.A.;
Note to paragraph (b)(l): In the event a
transaction or activity to finalize, close, or
exchange assets or any other thing of value
related to the sale, disposition, or transfer of
lmportadora Maduro, S.A.; Maduro
Internacional, S.A.; and Lindo & Maduro,
S.A. involves a U.S. person or is otherwise
subject to U.S. jurisdiction, a separate license
from the Office of Foreign Assets Control is
required.
(2) The unblocking of any property blocked
pursuant to the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901–1908, and
the Foreign Narcotics Kingpin Sanctions
Regulations, 31 CFR part 598; or
(3) Any transactions or dealings otherwise
prohibited by any Executive order or any
other part of 31 CFR chapter V, or any
transactions or dealings with any individual
or entity other than Importadora Maduro,
S.A.; Maduro Internacional, S.A.; and Lindo
& Maduro, S.A., that is listed on the Office
of Foreign Assets Control’s List of Specially
Designated Nationals and Blocked Persons or
that otherwise constitutes a person whose
property and interests in property are
blocked.
(c) U.S. persons participating in
transactions authorized by this general
license are required, within 10 business days
after the activities conclude, to file a report
on the transactions with the Office of Foreign
Assets Control, Sanctions Compliance &
Evaluation Division, U.S. Department of the
Treasury, 1500 Pennsylvania Avenue NW,
Freedman’s Bank Building, Washington, DC
20220. Such reports shall include the
following numbered sections and
information:
(1) Estimated or actual dollar value of the
transaction(s), as determined by the value of
the goods, services, or contract;
(2) The parties involved;
(3) The type and scope of activities
conducted; and
VerDate Sep<11>2014
15:55 Nov 30, 2022
Jkt 259001
(4) The dates and duration of the activities.
Reports may also be filed via email to
OFACReport@treasury.gov.
(d) Unless extended or revoked, this
authorization expires at 12:01 a.m. eastern
daylight time, December 14, 2016.
John E. Smith,
Acting Director, Office of Foreign Assets
Control.
Dated: June 14, 2016.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2022–26182 Filed 11–30–22; 8:45 am]
BILLING CODE 4810–AL–P
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 598
Publication of Foreign Narcotics
Kingpin Sanctions Regulations Web
General License 1A and Subsequent
Iterations
Office of Foreign Assets
Control, Treasury.
ACTION: Publication of web general
licenses.
AGENCY:
The Department of the
Treasury’s Office of Foreign Assets
Control (OFAC) is publishing three
general licenses (GLs) issued pursuant
to the Foreign Narcotics Kingpin
Sanctions Regulations: GLs 1A, 1B, and
1C, each of which was previously issued
on OFAC’s website.
DATES: GL 1A was issued on December
8, 2015. See SUPPLEMENTARY
INFORMATION for additional relevant
dates.
FOR FURTHER INFORMATION CONTACT:
OFAC: Assistant Director for Licensing,
202–622–2480; Assistant Director for
Regulatory Affairs, 202–622–4855; or
Assistant Director for Sanctions
Compliance & Evaluation, 202–622–
2490.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Electronic Availability
This document and additional
information concerning OFAC are
available on OFAC’s website:
www.treas.gov/ofac.
Background
On December 8, 2015, OFAC issued
GL 1A to authorize certain transactions
otherwise prohibited by the Foreign
Narcotics Kingpin Sanctions
Regulations, 31 CFR part 598.
Subsequently, OFAC issued further
iterations of GL 1A: on June 10, 2016,
OFAC issued GL 1B, which superseded
GL 1A; and on December 9, 2016, OFAC
PO 00000
Frm 00025
Fmt 4700
Sfmt 4700
73647
issued GL 1C, which superseded GL 1B.
Each of these GLs is now expired.
Each GL was made available on
OFAC’s website (www.treas.gov/ofac)
when it was issued. The text of these
GLs is provided below.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions
Regulations 31 CFR Part 598
GENERAL LICENSE NO. 1A
Authorizing Certain Transactions and
Activities To Liquidate and Wind Down
Banco Continental, S.A.
(a) General License No. 1, dated October
21, 2015, is replaced and superseded in its
entirety by this General License No. 1A.
(b) Except as provided in paragraph (c) of
this general license, all transactions and
activities otherwise prohibited by the Foreign
Narcotics Kingpin Sanctions Regulations, 31
CFR part 598, that are for the liquidation and
wind down of the Honduran bank, Banco
Continental, S.A., including transactions and
activities related to the preparation and
submission of bids to acquire the assets of
Banco Continental, S.A., are authorized
through 12:01 a.m. eastern daylight time,
June 12, 2016.
(c) This general license does not authorize:
(1) The unblocking of any property blocked
pursuant to the Foreign Narcotics Kingpin
Sanctions Regulations, 31 CFR part 598; or
(2) Any transactions or dealings otherwise
prohibited by any Executive order or any
other part of 31 CFR Chapter V, or any
transactions or dealings with any individual
or entity other than Banco Continental, S.A.
that is listed on the Office of Foreign Assets
Control’s List of Specially Designated
Nationals or Blocked Persons or that
otherwise constitutes a person whose
property and interests in property are
blocked.
(d) U.S. persons participating in
transactions authorized by this general
license are required, within 10 business days
after the liquidation and wind-down
activities conclude, to file a report, including
the parties involved, the type and scope of
activities conducted, and the dates of the
activities, with the Office of Foreign Assets
Control, Licensing Division, U.S. Department
of the Treasury, 1500 Pennsylvania Avenue
NW, Annex, Washington, DC 20220.
John E. Smith,
Acting Director, Office of Foreign Assets
Control.
Dated: December 8, 2015.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions
Regulations 31 CFR Part 598
GENERAL LICENSE NO. 1B
Authorizing Certain Transactions and
Activities To Liquidate and Wind Down
Banco Continental, S.A.
(a) General License No. 1A, dated
December 8, 2015, is replaced and
superseded in its entirety by this General
License No. 1B.
E:\FR\FM\01DER1.SGM
01DER1
]]>Agencies
[Federal Register Volume 87, Number 230 (Thursday, December 1, 2022)]
[Rules and Regulations]
[Pages 73643-73647]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-26182]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 598
Publication of Foreign Narcotics Kingpin Sanctions Regulations
Web General Licenses 5, 6, and 7 and Subsequent Iterations
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Publication of web general licenses.
-----------------------------------------------------------------------
SUMMARY: The Department of the Treasury's Office of Foreign Assets
Control (OFAC) is publishing nine general licenses (GLs) issued
pursuant to the Foreign Narcotics Kingpin Sanctions Regulations: GLs 5,
5A, 5B, 5C, 6, 6A, 6B, 6C, and 7, each of which was previously made
available on OFAC's website.
DATES: GL 5 was issued on May 13, 2016. See SUPPLEMENTARY INFORMATION
for additional relevant dates.
FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for
Licensing, 202-622-2480; Assistant Director for Regulatory Affairs,
202-622-4855; or Assistant Director for Sanctions Compliance &
Evaluation, 202-622-2490.
SUPPLEMENTARY INFORMATION:
Electronic Availability
This document and additional information concerning OFAC are
available on OFAC's website: www.treas.gov/ofac.
Background
On May 13, 2016, OFAC issued GLs 5 and 6 to authorize certain
transactions otherwise prohibited by the Foreign Narcotics Kingpin
Sanctions Regulations, 31 CFR part 598. At the time of issuance, OFAC
made GLs 5 and 6 available on its website (www.treas.gov/ofac).
Subsequently, OFAC issued three further iterations of GLs 5 and 6: on
June 10, 2016, OFAC issued GLs 5A and 6A, which superseded GLs 5 and 6
respectively; on July 21, 2016, OFAC issued GLs 5B and 6B, which
superseded GLs 5A and 6A, respectively; and on February 1, 2017, OFAC
issued GLs 5C and 6C, which superseded GLs 5B and 6B, respectively. On
June 14, 2016, OFAC issued GL 7.
Each of these GLs is now expired. Each GL was made available on
OFAC's website (www.treas.gov/ofac) when it was issued. The text of
these GLs is provided below.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598
GENERAL LICENSE NO. 5
Authorizing Certain Transactions and Activities Related to the
Panamanian Government Seizure of Balboa Bank & Trust
(a) Except as provided in paragraph (b), all transactions and
activities otherwise prohibited by the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901-1908, and the Foreign Narcotics
Kingpin Sanctions Regulations, 31 CFR part 598, that are necessary
for analysis of, and recommendations regarding, the financial
viability of Balboa Bank & Trust by the administrator appointed by
the Superintendency of Banking of Panama (Superintendencia de Bancos
de Panama) pursuant to applicable Panamanian law following the
seizure of the Panamanian bank, Balboa Bank & Trust, are authorized,
including the exportation, reexportation, or provision, directly or
indirectly, of the following:
(1) Software, hardware, and related services, including
information technology management services;
(2) Goods and services related to bank administration, building
maintenance, and building operations; and
(3) Auditing, consulting, legal, and other professional
services.
(b) This general license does not authorize:
(1) The unblocking of any property blocked pursuant to the
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part
598; or
(2) Any transactions or dealings otherwise prohibited by any
Executive order or any other part of 31 CFR chapter V, or any
transactions or dealings with any individual or entity other than
Balboa Bank & Trust that is listed on the Office of Foreign Assets
Control's List of Specially Designated Nationals or Blocked Persons
or that otherwise constitutes a person whose property and interests
in property are blocked.
(c) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
transactions, to file a report on the transactions, including the
parties involved, the type and scope of activities conducted, and
the dates of the activities, with the Office of Foreign Assets
Control, Sanctions Compliance & Evaluation Division, U.S. Department
of the Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank
Building, Washington, DC 20220. Reports may also be filed via email
to [email protected].
(d) Unless extended or revoked, this authorization expires at
12:01 a.m. eastern daylight time, June 14, 2016.
Note to paragraph (d): Grounds for revocation include: (1)
suspension or
[[Page 73644]]
termination of the Panamanian government's seizure of administrative
and operating control of Balboa Bank & Trust; (2) return of control,
directly or indirectly, to any Specially Designated National (SDN);
or (3) return of assets to any SDN.
John E. Smith,
Acting Director, Office of Foreign Assets Control.
Dated: May 13, 2016.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598
GENERAL LICENSE NO. 5A
Authorizing Certain Transactions and Activities Related to the
Panamanian Government Seizure of Balboa Bank & Trust
(a) General License No. 5, dated May 13, 2016, is replaced and
superseded in its entirety by this General License No. 5A.
(b) Except as provided in paragraph (c), all transactions and
activities otherwise prohibited by the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901-1908, and the Foreign Narcotics
Kingpin Sanctions Regulations, 31 CFR part 598, that are necessary
for analysis of, and recommendations regarding, the financial
viability of Balboa Bank & Trust by the administrator appointed by
the Superintendency of Banking of Panama (Superintendencia de Bancos
de Panama) pursuant to applicable Panamanian law following the
seizure of the Panamanian bank, Balboa Bank & Trust, are authorized,
including the exportation, reexportation, or provision, directly or
indirectly, of the following:
(1) Software, hardware, and related services, including
information technology management services;
(2) Goods and services related to bank administration, building
maintenance, and building operations; and
(3) Auditing, consulting, legal, and other professional
services.
(c) This general license does not authorize:
(1) The unblocking of any property blocked pursuant to the
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part
598; or
(2) Any transactions or dealings otherwise prohibited by any
Executive order or any other part of 31 CFR chapter V, or any
transactions or dealings with any individual or entity other than
Balboa Bank & Trust that is listed on the Office of Foreign Assets
Control's List of Specially Designated Nationals or Blocked Persons
or that otherwise constitutes a person whose property and interests
in property are blocked.
(d) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
transactions, to file a report on the transactions, including the
parties involved, the type and scope of activities conducted, and
the dates of the activities, with the Office of Foreign Assets
Control, Sanctions Compliance & Evaluation Division, U.S. Department
of the Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank
Building, Washington, DC 20220. Reports may also be filed via email
to [email protected].
(e) Unless extended or revoked, this authorization expires at
12:01 a.m. eastern daylight time, July 22, 2016.
Note to paragraph (e): Grounds for revocation include: (1)
suspension or termination of the Panamanian government's seizure of
administrative and operating control of Balboa Bank & Trust; (2)
return of control, directly or indirectly, to any Specially
Designated National (SDN); or (3) return of assets to any SDN.
Gregory T. Gatjanis,
Acting Director, Office of Foreign Assets Control.
Dated: June 10, 2016.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598
GENERAL LICENSE NO. 5B
Authorizing Certain Transactions and Activities Related to the
Panamanian Government Seizure of Balboa Bank & Trust
(a) General License No. 5A, dated June 10, 2016, is replaced and
superseded in its entirety by this General License No. 5B.
(b) Except as provided in paragraph (c), the following
transactions and activities otherwise prohibited by the Foreign
Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and the
Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part 598,
are authorized:
(1) Transactions and activities that are necessary during the
reorganization of Balboa Bank & Trust (Balboa Bank) by the
Superintendency of Banking of Panama (Superintendencia de Bancos de
Panama) (Superintendency) and the reorganizer appointed by the
Superintendency pursuant to applicable Panamanian law following
Balboa Bank's seizure by the Superintendency, for the analysis of,
and recommendations regarding, financial viability and
reorganization, or to facilitate, negotiate, or agree to Balboa
Bank's reorganization and any related sale, disposition, or
transfer, including the exportation, re-exportation, or provision,
directly or indirectly, of the following:
(i) Software, hardware, and related services, including
information technology management services;
(ii) Goods and services related to bank employment and
administration, as well as building maintenance and building
operations; and
(iii) Auditing, consulting, legal, investment banking, and other
professional services.
(2) Transactions and activities related to payments on loans and
other obligations, in effect prior to May 5, 2016, by any non-
designated Balboa Bank customers to Balboa Bank, provided such
payments are remitted to the account established at Banco Nacional
de Panama by the Superintendency.
(c) This general license does not authorize:
(1) The unblocking of any property blocked pursuant to the
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part
598;
(2) Any transactions or activities otherwise prohibited by any
Executive order or any other part of 31 CFR chapter V, or any
transactions or activities with any individual or entity other than
Balboa Bank that is listed on the Office of Foreign Assets Control's
List of Specially Designated Nationals and Blocked Persons or that
otherwise constitutes a person whose property and interests in
property are blocked; or
(3) Any transactions or activities to finalize, close, or
exchange assets or any other thing of value related to the sale,
disposition, or transfer of Balboa Bank.
Note to paragraph (c)(3): In the event a transaction or activity
to finalize, close, or exchange assets or any other thing of value
related to the sale, disposition, or transfer of Balboa Bank
involves a U.S. person or is otherwise subject to U.S. jurisdiction,
a separate license from the Office of Foreign Assets Control is
required.
(d) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
transactions, to file a report on the transactions, including the
parties involved, the type and scope of activities conducted, and
the dates of the activities, with the Office of Foreign Assets
Control, Sanctions Compliance & Evaluation Division, U.S. Department
of the Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank
Building, Washington, DC 20220. Reports may also be filed via email
to [email protected].
(e) Unless extended or revoked, this authorization expires at
12:01 a.m. eastern daylight time, February 3, 2017.
Note to paragraph (e): Grounds for revocation include: (1)
suspension or termination of the Panamanian Government's seizure of
administrative and operating control of Balboa Bank; (2) return of
control, directly or indirectly, to any Specially Designated
National (SDN); or (3) return of assets to any SDN.
John E. Smith,
Acting Director, Office of Foreign Assets Control.
Dated: July 21, 2016.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598
GENERAL LICENSE NO. 5C
Authorizing Certain Transactions and Activities Related to the
Panamanian Government Seizure of Balboa Bank & Trust
(a) General License No. 5B, dated July 21, 2016, is replaced and
superseded in its entirety by this General License No. 5C.
(b) Except as provided in paragraph (c), the following
transactions and activities otherwise prohibited by the Foreign
Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and the
Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part 598,
are authorized:
(1) Transactions and activities that are necessary during the
reorganization of Balboa Bank & Trust (Balboa Bank) by the
[[Page 73645]]
Superintendency of Banking of Panama (Superintendencia de Bancos de
Panama) (Superintendency) and the reorganizer appointed by the
Superintendency pursuant to applicable Panamanian law following
Balboa Bank's seizure by the Superintendency, for the analysis of,
and recommendations regarding, financial viability and
reorganization, or to facilitate, negotiate, or agree to Balboa
Bank's reorganization and any related sale, disposition, or
transfer, including the exportation, re-exportation, or provision,
directly or indirectly, of the following:
(i) Software, hardware, and related services, including
information technology management services;
(ii) Goods and services related to bank employment and
administration, as well as building maintenance and building
operations; and
(iii) Auditing, consulting, legal, investment banking, and other
professional services.
(2) Transactions and activities related to payments on loans and
other obligations, in effect prior to May 5, 2016, by any non-
designated Balboa Bank customers to Balboa Bank, provided such
payments are remitted to the account established at Banco Nacional
de Panama by the Superintendency.
(c) This general license does not authorize:
(1) The unblocking of any property blocked pursuant to the
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part
598;
(2) Any transactions or activities otherwise prohibited by any
Executive order or any other part of 31 CFR chapter V, or any
transactions or activities with any individual or entity other than
Balboa Bank that is listed on the Office of Foreign Assets Control's
List of Specially Designated Nationals and Blocked Persons or that
otherwise constitutes a person whose property and interests in
property are blocked; or
(3) Any transactions or activities to finalize, close, or
exchange assets or any other thing of value related to the sale,
disposition, or transfer of Balboa Bank.
Note to paragraph (c)(3): In the event a transaction or activity
to finalize, close, or exchange assets or any other thing of value
related to the sale, disposition, or transfer of Balboa Bank
involves a U.S. person or is otherwise subject to U.S. jurisdiction,
a separate license from the Office of Foreign Assets Control is
required.
(d) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
transactions, to file a report on the transactions, including the
parties involved, the type and scope of activities conducted, and
the dates of the activities, with the Office of Foreign Assets
Control, Sanctions Compliance & Evaluation Division, U.S. Department
of the Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank
Building, Washington, DC 20220. Reports may also be filed via email
to [email protected].
Andrea Gacki,
Acting Director, Office of Foreign Assets Control.
Dated: February 1, 2017.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598
GENERAL LICENSE NO. 6
Authorizing Certain Transactions and Activities Related to the
Intervention by the Superintendency of Securities Markets of Panama in
Balboa Securities, Corp.
(a) Except as provided in paragraph (b), all transactions and
activities otherwise prohibited by the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901-1908, and the Foreign Narcotics
Kingpin Sanctions Regulations, 31 CFR part 598, that are necessary
for the inventory of assets and liabilities, and development of a
final report, on Balboa Securities, Corp., by the administrator
appointed by the Superintendency of Securities Markets of Panama
(Superintendencia del Mercados de Valores de Panama)
(Superintendency) pursuant to applicable Panamanian law following
the intervention by the Superintendency in the Panamanian securities
firm, Balboa Securities, Corp., are authorized, including the
exportation, reexportation, or provision, directly or indirectly, of
the following:
(1) Software, hardware, and related services, including
information technology management services;
(2) Goods and services related to securities firm
administration, building maintenance, and building operations; and
(3) Auditing, consulting, legal, and other professional
services.
(b) This general license does not authorize:
(1) The unblocking of any property blocked pursuant to the
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part
598; or
(2) Any transactions or dealings otherwise prohibited by any
Executive order or any other part of 31 CFR chapter V, or any
transactions or dealings with any individual or entity other than
Balboa Securities, Corp. that is listed on the Office of Foreign
Assets Control's List of Specially Designated Nationals or Blocked
Persons or that otherwise constitutes a person whose property and
interests in property are blocked.
(c) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
transactions, to file a report on the transactions, including the
parties involved, the type and scope of activities conducted, and
the dates of the activities, with the Office of Foreign Assets
Control, Sanctions Compliance & Evaluation Division, U.S. Department
of the Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank
Building, Washington, DC 20220. Reports may also be filed via email
to [email protected].
(d) Unless extended or revoked, this authorization expires at
12:01 a.m. eastern daylight time, June 14, 2016.
Note to paragraph (d): Grounds for revocation include: (1)
suspension or termination of the Panamanian government's
intervention in Balboa Securities, Corp.;
(2) return of control, directly or indirectly, to any Specially
Designated National (SDN); or (3) return of assets to any SDN.
John E. Smith,
Acting Director, Office of Foreign Assets Control.
Dated: May 13, 2016.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598
GENERAL LICENSE NO. 6A
Authorizing Certain Transactions and Activities Related to the
Intervention by the Superintendency of Securities Markets of Panama in
Balboa Securities, Corp.
(a) General License No. 6, dated May 13, 2016, is replaced and
superseded in its entirety by this General License No. 6A.
(b) Except as provided in paragraph (c), all transactions and
activities otherwise prohibited by the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901-1908, and the Foreign Narcotics
Kingpin Sanctions Regulations, 31 CFR part 598, that are necessary
for the inventory of assets and liabilities, and development of a
final report, on Balboa Securities, Corp., by the administrator
appointed by the Superintendency of Securities Markets of Panama
(Superintendencia del Mercados de Valores de Panama)
(Superintendency) pursuant to applicable Panamanian law following
the intervention by the Superintendency in the Panamanian securities
firm, Balboa Securities, Corp., are authorized, including the
exportation, reexportation, or provision, directly or indirectly, of
the following:
(1) Software, hardware, and related services, including
information technology management services;
(2) Goods and services related to securities firm
administration, building maintenance, and building operations; and
(3) Auditing, consulting, legal, and other professional
services.
(c) This general license does not authorize:
(1) The unblocking of any property blocked pursuant to the
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part
598; or
(2) Any transactions or dealings otherwise prohibited by any
Executive order or any other part of 31 CFR chapter V, or any
transactions or dealings with any individual or entity other than
Balboa Securities, Corp. that is listed on the Office of Foreign
Assets Control's List of Specially Designated Nationals or Blocked
Persons or that otherwise constitutes a person whose property and
interests in property are blocked.
(d) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
transactions, to file a report on the transactions, including the
parties involved, the type and scope of activities conducted, and
the dates of the activities, with the Office of Foreign Assets
Control, Sanctions Compliance & Evaluation Division, U.S. Department
of the Treasury, 1500
[[Page 73646]]
Pennsylvania Avenue NW, Freedman's Bank Building, Washington, DC
20220. Reports may also be filed via email to
[email protected].
(e) Unless extended or revoked, this authorization expires at
12:01 a.m. eastern daylight time, July 22, 2016.
Note to paragraph (e): Grounds for revocation include: (1)
suspension or termination of the Panamanian government's
intervention in Balboa Securities, Corp.; (2) return of control,
directly or indirectly, to any Specially Designated National (SDN);
or (3) return of assets to any SDN.
Gregory T. Gatjanis,
Acting Director, Office of Foreign Assets Control.
Dated: June 10, 2016.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598
GENERAL LICENSE NO. 6B
Authorizing Certain Transactions and Activities Related to the
Intervention by the Superintendency of Securities Markets of Panama in
Balboa Securities, Corp.
(a) General License No. 6A, dated June 10, 2016, is replaced and
superseded in its entirety by this General License No. 6B.
(b) Except as provided in paragraph (c), all transactions and
activities otherwise prohibited by the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901-1908, and the Foreign Narcotics
Kingpin Sanctions Regulations, 31 CFR part 598, that are necessary
during the reorganization of Balboa Securities, Corp. (Balboa
Securities) by the Superintendency of Securities Markets of Panama
(Superintendencia del Mercados de Valores de Panama)
(Superintendency) and the reorganizer appointed by the
Superintendency pursuant to applicable Panamanian law following the
intervention by the Superintendency, for the inventory of assets and
liabilities of Balboa Securities or to facilitate, negotiate, or
agree to Balboa Securities' reorganization and any related sale,
disposition, or transfer, are authorized, including the exportation,
re-exportation, or provision, directly or indirectly, of the
following:
(1) Software, hardware, and related services, including
information technology management services;
(2) Goods and services related to securities firm employment and
administration, as well as building maintenance and building
operations; and
(3) Auditing, consulting, legal, investment banking, and other
professional services.
(c) This general license does not authorize:
(1) The unblocking of any property blocked pursuant to the
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part
598;
(2) Any transactions or activities otherwise prohibited by any
Executive order or any other part of 31 CFR chapter V, or any
transactions or activities with any individual or entity other than
Balboa Securities that is listed on the Office of Foreign Assets
Control's List of Specially Designated Nationals and Blocked Persons
or that otherwise constitutes a person whose property and interests
in property are blocked; or
(3) Any transactions or activities to finalize, close, or
exchange assets or any other thing of value related to the sale,
disposition, or transfer of Balboa Securities.
Note to paragraph (c)(3): In the event a transaction or activity
to finalize, close, or exchange assets or any other thing of value
related to the sale, disposition, or transfer of Balboa Securities
involves a U.S. person or is otherwise subject to U.S. jurisdiction,
a separate license from the Office of Foreign Assets Control is
required.
(d) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
transactions, to file a report on the transactions, including the
parties involved, the type and scope of activities conducted, and
the dates of the activities, with the Office of Foreign Assets
Control, Sanctions Compliance & Evaluation Division, U.S. Department
of the Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank
Building, Washington, DC 20220. Reports may also be filed via email
to [email protected].
(e) Unless extended or revoked, this authorization expires at
12:01 a.m. eastern daylight time, February 3, 2017.
Note to paragraph (e): Grounds for revocation include: (1)
suspension or termination of the Panamanian Government's
intervention in Balboa Securities; (2) return of control, directly
or indirectly, to any Specially Designated National (SDN); or (3)
return of assets to any SDN.
John E. Smith,
Acting Director, Office of Foreign Assets Control.
Dated: July 21, 2016.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598
GENERAL LICENSE NO. 6C
Authorizing Certain Transactions and Activities Related to the
Intervention by the Superintendency of Securities Markets of Panama in
Balboa Securities, Corp.
(a) General License No. 6B, dated July 21, 2016, is replaced and
superseded in its entirety by this General License No. 6C.
(b) Except as provided in paragraph (c), all transactions and
activities otherwise prohibited by the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901-1908, and the Foreign Narcotics
Kingpin Sanctions Regulations, 31 C.P.R. part 598, that are
necessary during the reorganization of Balboa Securities, Corp.
(Balboa Securities) by the Superintendency of Securities Markets of
Panama (Superintendencia del Mercados de Valores de Panama)
(Superintendency) and the reorganizer appointed by the
Superintendency pursuant to applicable Panamanian law following the
intervention by the Superintendency, for the inventory of assets and
liabilities of Balboa Securities or to facilitate, negotiate, or
agree to Balboa Securities' reorganization and any related sale,
disposition, or transfer, are authorized, including the exportation,
re-exportation, or provision, directly or indirectly, of the
following:
(1) Software, hardware, and related services, including
information technology management services;
(2) Goods and services related to securities firm employment and
administration, as well as building maintenance and building
operations; and
(3) Auditing, consulting, legal, investment banking, and other
professional services.
(c) This general license does not authorize:
(1) The unblocking of any property blocked pursuant to the
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part
598;
(2) Any transactions or activities otherwise prohibited by any
Executive order or any other part of 31 CFR chapter V, or any
transactions or activities with any individual or entity other than
Balboa Securities that is listed on the Office of Foreign Assets
Control's List of Specially Designated Nationals and Blocked Persons
or that otherwise constitutes a person whose property and interests
in property are blocked; or
(3) Any transactions or activities to finalize, close, or
exchange assets or any other thing of value related to the sale,
disposition, or transfer of Balboa Securities.
Note to paragraph (c)(3): In the event a transaction or activity
to finalize, close, or exchange assets or any other thing of value
related to the sale, disposition, or transfer of Balboa Securities
involves a U.S. person or is otherwise subject to U.S. jurisdiction,
a separate license from the Office of Foreign Assets Control is
required.
(d) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
transactions, to file a report on the transactions, including the
parties involved, the type and scope of activities conducted, and
the dates of the activities, with the Office of Foreign Assets
Control, Sanctions Compliance & Evaluation Division, U.S. Department
of the Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank
Building, Washington, DC 20220. Reports may also be filed via email
to [email protected].
(e) Unless extended or revoked, this authorization expires at
12:01 a.m. eastern daylight time, April 7, 2017.
Note to paragraph (e): Grounds for revocation include: (1)
suspension or termination of the Panamanian Government's
intervention in Balboa Securities; (2) return of control, directly
or indirectly, to any Specially Designated National (SDN); or (3)
return of assets to any SDN.
Andrea Gacki,
Acting Director, Office of Foreign Assets Control.
Dated: February 1, 2017.
[[Page 73647]]
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598
GENERAL LICENSE NO. 7
Authorizing Certain Transactions and Activities Related to Importadora
Maduro, S.A., Maduro Internacional, S.A., and Lindo & Maduro, S.A.
(a) Except as provided in paragraph (b), all transactions and
activities otherwise prohibited by the Foreign Narcotics Kingpin
Designation Act, 21 U.S.C. 1901-1908, and the Foreign Narcotics
Kingpin Sanctions Regulations, 31 CFR part 598, that are necessary
to (1) maintain operations or (2) facilitate, negotiate, or agree to
the sale, disposition, or transfer of Importadora Maduro, S.A.;
Maduro Internacional, S.A.; and Lindo & Maduro, S.A., following the
actions of the Government of Panama related to the temporary removal
of ownership and control by certain Specially Designated Narcotics
Traffickers, are authorized.
(b) This general license does not authorize:
(1) Any transactions or activities to finalize, close, or
exchange assets or any other thing of value related to the sale,
disposition, or transfer of Importadora Maduro, S.A.; Maduro
Internacional, S.A.; and Lindo & Maduro, S.A.;
Note to paragraph (b)(l): In the event a transaction or activity
to finalize, close, or exchange assets or any other thing of value
related to the sale, disposition, or transfer of lmportadora Maduro,
S.A.; Maduro Internacional, S.A.; and Lindo & Maduro, S.A. involves
a U.S. person or is otherwise subject to U.S. jurisdiction, a
separate license from the Office of Foreign Assets Control is
required.
(2) The unblocking of any property blocked pursuant to the
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part
598; or
(3) Any transactions or dealings otherwise prohibited by any
Executive order or any other part of 31 CFR chapter V, or any
transactions or dealings with any individual or entity other than
Importadora Maduro, S.A.; Maduro Internacional, S.A.; and Lindo &
Maduro, S.A., that is listed on the Office of Foreign Assets
Control's List of Specially Designated Nationals and Blocked Persons
or that otherwise constitutes a person whose property and interests
in property are blocked.
(c) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
activities conclude, to file a report on the transactions with the
Office of Foreign Assets Control, Sanctions Compliance & Evaluation
Division, U.S. Department of the Treasury, 1500 Pennsylvania Avenue
NW, Freedman's Bank Building, Washington, DC 20220. Such reports
shall include the following numbered sections and information:
(1) Estimated or actual dollar value of the transaction(s), as
determined by the value of the goods, services, or contract;
(2) The parties involved;
(3) The type and scope of activities conducted; and
(4) The dates and duration of the activities.
Reports may also be filed via email to [email protected].
(d) Unless extended or revoked, this authorization expires at
12:01 a.m. eastern daylight time, December 14, 2016.
John E. Smith,
Acting Director, Office of Foreign Assets Control.
Dated: June 14, 2016.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2022-26182 Filed 11-30-22; 8:45 am]
BILLING CODE 4810-AL-P
