Question to the HM Treasury:
To ask Her Majesty's Government when they intend to publish the findings of an investigation into the unexplained write-down by an unidentified financial institution of up to £840 million of frozen Libyan assets held in London.
The Office of Financial Sanctions Implementation (OFSI) within HM Treasury continues to investigate a discrepancy outlined in our previous response. I cannot comment on ongoing cases.
OFSI only publishes a summary of a compliance case when an investigation into a breach of financial sanctions results in a monetary penalty. These summaries can be found on OFSI’s ‘Enforcement of Financial Sanctions’ page on GOV.UK. Further details of the circumstances in which OFSI would issue a monetary penalty are available in the ‘Monetary Penalties for Breaches of Financial Sanctions – Guidance’, also available on OFSI’s GOV.UK page.