Re: Regulations are out
I think that most banks will add a condition to their commercial customer, bank relationship and foreign bank relationship agreements that the other party not knowingly originate or receive a restricted transaction and that the other party not contract or affiliate with a business known by the other party to originate or receive restricted transactions. Could we comment that this example be sufficient to comply with the regs?
Also, D$D, I really enjoyed the comment about the cost of drafting the regulations. ROFLAO
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