UK OFSI Amsterdam Trade Bank License

Updated on: Mar 29, 2023

Latest Event


  • Mar. 2023 License Extended
  • On Mar. 28, 2023, UK OFSI announced license extended by 2 years to May 12, 2025.

On May 13, UK Treasury issued general license for ATB wind-down.

  • General license INT/2022/1678476 dated May 12, issued for ATB wind-down activities.
  • Allows payments and other permitted activities in relation to winding down activities, basic needs and insolvency proceedings for Amsterdam Trade Bank N.V or subsidiary.
  • Amsterdam Trade Bank N.V is a majority owned subsidiary of Alfa-Bank JSC which is a person designated under Russia (Sanctions) (EU Exit) Regulations 2019, reg 5.
  • Follows UK GVT Mar. 2022 issued new sanctions on Russia and Belarus, see #132779.
  • Also follows NLD DNB, NLD GVT Apr. 2022, announced ATB bankruptcy, see #136116.
  • Effectiveness
  • General License INT/2022/1678476 effective May 12, 2022, expires on May 12, 2023.
  • Mar. 2023 License Extended
  • On Mar. 28, 2023, UK OFSI announced license extended by 2 years to May 12, 2025.
Regulators
UK OFSI; UK Treasury
Entity Types
Bank; CNSM; Corp; MSB
Reference
PR 3/28/2023; GL INT/2022/1678476, Ntc, PR, 5/13/2022; StIn 2019/855
Functions
AML; Anti-Bribery; Compliance; C-Suite; Financial; Legal; Operations; Reporting; Resolution; Risk; Sanctions; Settlement; Treasury
Countries
United Kingdom
Category
State
N/A
Products
Banking; Clearing; Corporate; Payments
Rule Type
Final
Regions
EMEA
Rule Date
May 13, 2022
Effective Date
May 12, 2025
Rule ID
137826
Linked to
Reg. Last Update
Mar 28, 2023
Report Section
UK