[14022]
October 4, 2001
TO: COMPLIANCE ADVISORY COMMITTEE No. 44-01
INTERNATIONAL COMMITTEE No. 53-01
INTERNATIONAL OPERATIONS ADVISORY COMMITTEE No. 7-01
TRANSFER AGENT ADVISORY COMMITTEE No. 73-01
RE: OFAC AMENDS YUGOSLAV REGULATIONS
Yesterday, the Office of Foreign Assets Control (OFAC)1 published an amendment to its
Yugoslav regulations, significantly updating the list of persons and accounts from the Federal
Republic of Yugoslavia (Serbia and Montenegro) and Kosovo that should be blocked. Pursuant
to the amended regulations, a number of formerly blocked accounts and transactions may be
unblocked. However, there are certain new targets to note.
A copy of the OFAC bulletin on Yugoslavia containing more detailed information is
attached. The bulletin and the complete set of Yugoslav regulations are available on the OFAC
web site, www.treas.gov/ofac.
If you have questions about OFAC compliance please contact Frances Stadler (phone
202-326-5822; e-mail frances@ici.org) or me (phone 202-371-5430; e-mail rcg@ici.org), or contact
OFAC Compliance directly at 202-622-2490.
Robert C. Grohowski
Associate Counsel
Attachment (in .pdf format)
1 OFAC regulations require US persons, including investment companies, to block all accounts and assets of Specially
Designated Nationals (SDNs). For an overview of OFAC regulations and a description of the various measures that
mutual fund organizations may wish to consider adopting to ensure compliance with those regulations, refer to the
Institute’s paper entitled “Foreign Assets Control Compliance for Mutual Funds.” This paper is available on the
Institute’s members’ website at http://members.ici.org. The members’ website is password-protected; staff at
Institute member firms may request access codes by filling out the enrollment form on the website.