In 2016 and early 2017, Canada’s Standing Committee on Foreign Affairs and International Development (FAAE) reviewed Canada’s Special Economic Measures Act (“SEMA”) and the Freezing Assets of Corrupt Foreign Officials Act. The SEMA was encted to authorize the Governor in Council (Cabinet) to promulgate unilateral economic sanctions against states, as well as individuals
Canadian companies are required to comply with Canada’s economic sanctions laws – and it is not an easy task. Currently, Canada imposes multi-lateral economic sanctions pursuant to the United Nations Act against 16 countries (Central African Republic, Democratic Republic of Congo, Eritrea, Ivory Coast, Iran, Iraq, Lebanon, Liberia, Libya, North Korea, Sierra Leone, Somalia, South
On March 10, 2016, Canada quietly amended the Regulations Amending the Freezing Assets of Corrupt Foreign Officials (Tunisia and Egypt) Regulations and repealed provisions concerning Egypt. Schedule 2 designating “politically exposed persons” in Egypt has been repealed. This means that the provisions of the Freezing of Assets of Corrupt Foreign Officials Act no longer
