NASD Notice to Members 98-050 - July 1998

Treasury Updates List of Specially Designated Persons and Entities

Executive Summary

As requested by the Department of Treasury (Treasury), the National Association of Securities Dealers, Inc. (NASD(r)) provides members with information from the Office of Foreign Assets Control (OFAC) about persons and entities identified as "Specially Designated Nationals and Blocked Persons." Effective May 26, 1998, OFAC updated its master list, adding the names of six individuals and 21 entities who have been determined to play a significant role in international narcotics trafficking centered in Colombia, or who have been determined to act for or on behalf of, or to be owned or controlled by other specially designated narcotics traffickers; adding the names of 62 entities which have been determined to act for or on behalf of, or to be owned or controlled by the Government of Sudan; and removing the names of two individuals previously designated as specially designated narcotics traffickers. In addition, OFAC issued Burmese Sanctions Regulations that prohibit new investment in Burma by U.S. persons effective May 21, 1998.