By Muvija M and Sam Tobin
BRITISH regulators have fined global law firm Herbert Smith Freehills (HSF) after its now defunct Moscow subsidiary breached UK sanctions on Russia, cutting the final penalty by half due to voluntary disclosure.
The Office of Financial Sanctions Implementation (OFSI) imposed a penalty of 465,000 pounds ($603,058.50) on HSF Moscow, which was the subsidiary office of the UK-registered HSF London until its closure in 2022 after Russia’s invasion of Ukraine, the UK government said in a statement.
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