Rahman Ravelli
Rahman Ravelli Solicitors Logo
Rapid Response Team: 0800 559 3500
Switchboard: +44 (0)203 947 1539

About Us Expertise PEOPLE International Legal Articles News Events Contact Us toggle button for phone toggle button for search
Rapid Response Team: 0800 559 3500
Switchboard: +44 (0)203 947 1539
search
Rapid Response Team: 0800 559 3500
Switchboard: +44 (0)203 947 1539
search

The benefits of OFSI’s general licence for lawyers are explained by Zulfi Meerza and Syed Rahman

Authors: Syedur Rahman, Zulfi Meerza  30 November 2022

The UK Office of Financial Sanctions Implementation (OFSI) has introduced a general licence that enables law firms to receive funds from sanctioned clients quicker.

Zulfi Meerza and Syed Rahman wrote an article that outlines the issues that led to the general licence being introduced and its benefits.

They explain that prior to the licence, lawyers could provide legal advice to persons subject to an asset freeze (those that had been sanctioned) but receiving payment required a specific licence from OFSI. Due to the sanctions imposed after Russia’s invasion of Ukraine, there was a backlog in processing licence applications, leading to legal firms facing long delays before being paid.

The general licence, however, enables lawyers to receive payment from a sanctioned person without having to apply or wait for a specific licence. In their piece, Zulfi and Syed detail how this new situation will help ensure lawyers are paid quicker than before. They also cover the new licence’s approach to legal fees and the specific requirements it places on lawyers.

Syed and Zulfi's article featured in Law360. (Subscription required)

Syedur Rahman C 09551

Syedur Rahman

Partner

syedur.rahman@rahmanravelli.co.uk
+44 (0)203 910 4566 vCard

Download Profile PDF

View Profile

Syedur Rahman is known for his in-depth experience of serious fraud, white-collar crime and serious crime cases, as well as his expertise in worldwide asset tracing and recovery, international arbitration, civil recovery, cryptocurrency and high-stakes commercial disputes.


zulfi 08593 lores

Zulfi Meerza

Senior Associate Solicitor

zulfi.meerza@rahmanravelli.co.uk
+44 (0)203 597 9784 vCard

Download Profile PDF

View Profile

Zulfi’s in-depth expertise in business crime investigations and serious regulatory matters makes him a logical choice to advise and represent corporates, board members, senior business figures and high net worth individuals throughout the life of a case.

Share this article on