[Federal Register Volume 87, Number 230 (Thursday, December 1, 2022)]
[Rules and Regulations]
[Pages 73643-73647]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-26182]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Part 598


Publication of Foreign Narcotics Kingpin Sanctions Regulations 
Web General Licenses 5, 6, and 7 and Subsequent Iterations

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Publication of web general licenses.

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SUMMARY: The Department of the Treasury's Office of Foreign Assets 
Control (OFAC) is publishing nine general licenses (GLs) issued 
pursuant to the Foreign Narcotics Kingpin Sanctions Regulations: GLs 5, 
5A, 5B, 5C, 6, 6A, 6B, 6C, and 7, each of which was previously made 
available on OFAC's website.

DATES: GL 5 was issued on May 13, 2016. See SUPPLEMENTARY INFORMATION 
for additional relevant dates.

FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for 
Licensing, 202-622-2480; Assistant Director for Regulatory Affairs, 
202-622-4855; or Assistant Director for Sanctions Compliance & 
Evaluation, 202-622-2490.

SUPPLEMENTARY INFORMATION: 

Electronic Availability

    This document and additional information concerning OFAC are 
available on OFAC's website: www.treas.gov/ofac.

Background

    On May 13, 2016, OFAC issued GLs 5 and 6 to authorize certain 
transactions otherwise prohibited by the Foreign Narcotics Kingpin 
Sanctions Regulations, 31 CFR part 598. At the time of issuance, OFAC 
made GLs 5 and 6 available on its website (www.treas.gov/ofac). 
Subsequently, OFAC issued three further iterations of GLs 5 and 6: on 
June 10, 2016, OFAC issued GLs 5A and 6A, which superseded GLs 5 and 6 
respectively; on July 21, 2016, OFAC issued GLs 5B and 6B, which 
superseded GLs 5A and 6A, respectively; and on February 1, 2017, OFAC 
issued GLs 5C and 6C, which superseded GLs 5B and 6B, respectively. On 
June 14, 2016, OFAC issued GL 7.
    Each of these GLs is now expired. Each GL was made available on 
OFAC's website (www.treas.gov/ofac) when it was issued. The text of 
these GLs is provided below.

OFFICE OF FOREIGN ASSETS CONTROL

Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598

GENERAL LICENSE NO. 5

Authorizing Certain Transactions and Activities Related to the 
Panamanian Government Seizure of Balboa Bank & Trust

    (a) Except as provided in paragraph (b), all transactions and 
activities otherwise prohibited by the Foreign Narcotics Kingpin 
Designation Act, 21 U.S.C. 1901-1908, and the Foreign Narcotics 
Kingpin Sanctions Regulations, 31 CFR part 598, that are necessary 
for analysis of, and recommendations regarding, the financial 
viability of Balboa Bank & Trust by the administrator appointed by 
the Superintendency of Banking of Panama (Superintendencia de Bancos 
de Panama) pursuant to applicable Panamanian law following the 
seizure of the Panamanian bank, Balboa Bank & Trust, are authorized, 
including the exportation, reexportation, or provision, directly or 
indirectly, of the following:
    (1) Software, hardware, and related services, including 
information technology management services;
    (2) Goods and services related to bank administration, building 
maintenance, and building operations; and
    (3) Auditing, consulting, legal, and other professional 
services.
    (b) This general license does not authorize:
    (1) The unblocking of any property blocked pursuant to the 
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and 
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part 
598; or
    (2) Any transactions or dealings otherwise prohibited by any 
Executive order or any other part of 31 CFR chapter V, or any 
transactions or dealings with any individual or entity other than 
Balboa Bank & Trust that is listed on the Office of Foreign Assets 
Control's List of Specially Designated Nationals or Blocked Persons 
or that otherwise constitutes a person whose property and interests 
in property are blocked.
    (c) U.S. persons participating in transactions authorized by 
this general license are required, within 10 business days after the 
transactions, to file a report on the transactions, including the 
parties involved, the type and scope of activities conducted, and 
the dates of the activities, with the Office of Foreign Assets 
Control, Sanctions Compliance & Evaluation Division, U.S. Department 
of the Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank 
Building, Washington, DC 20220. Reports may also be filed via email 
to [email protected].
    (d) Unless extended or revoked, this authorization expires at 
12:01 a.m. eastern daylight time, June 14, 2016.
    Note to paragraph (d): Grounds for revocation include: (1) 
suspension or

[[Page 73644]]

termination of the Panamanian government's seizure of administrative 
and operating control of Balboa Bank & Trust; (2) return of control, 
directly or indirectly, to any Specially Designated National (SDN); 
or (3) return of assets to any SDN.

John E. Smith,

Acting Director, Office of Foreign Assets Control.

    Dated: May 13, 2016.

OFFICE OF FOREIGN ASSETS CONTROL

Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598

GENERAL LICENSE NO. 5A

Authorizing Certain Transactions and Activities Related to the 
Panamanian Government Seizure of Balboa Bank & Trust

    (a) General License No. 5, dated May 13, 2016, is replaced and 
superseded in its entirety by this General License No. 5A.
    (b) Except as provided in paragraph (c), all transactions and 
activities otherwise prohibited by the Foreign Narcotics Kingpin 
Designation Act, 21 U.S.C. 1901-1908, and the Foreign Narcotics 
Kingpin Sanctions Regulations, 31 CFR part 598, that are necessary 
for analysis of, and recommendations regarding, the financial 
viability of Balboa Bank & Trust by the administrator appointed by 
the Superintendency of Banking of Panama (Superintendencia de Bancos 
de Panama) pursuant to applicable Panamanian law following the 
seizure of the Panamanian bank, Balboa Bank & Trust, are authorized, 
including the exportation, reexportation, or provision, directly or 
indirectly, of the following:
    (1) Software, hardware, and related services, including 
information technology management services;
    (2) Goods and services related to bank administration, building 
maintenance, and building operations; and
    (3) Auditing, consulting, legal, and other professional 
services.
    (c) This general license does not authorize:
    (1) The unblocking of any property blocked pursuant to the 
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and 
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part 
598; or
    (2) Any transactions or dealings otherwise prohibited by any 
Executive order or any other part of 31 CFR chapter V, or any 
transactions or dealings with any individual or entity other than 
Balboa Bank & Trust that is listed on the Office of Foreign Assets 
Control's List of Specially Designated Nationals or Blocked Persons 
or that otherwise constitutes a person whose property and interests 
in property are blocked.
    (d) U.S. persons participating in transactions authorized by 
this general license are required, within 10 business days after the 
transactions, to file a report on the transactions, including the 
parties involved, the type and scope of activities conducted, and 
the dates of the activities, with the Office of Foreign Assets 
Control, Sanctions Compliance & Evaluation Division, U.S. Department 
of the Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank 
Building, Washington, DC 20220. Reports may also be filed via email 
to [email protected].
    (e) Unless extended or revoked, this authorization expires at 
12:01 a.m. eastern daylight time, July 22, 2016.
    Note to paragraph (e): Grounds for revocation include: (1) 
suspension or termination of the Panamanian government's seizure of 
administrative and operating control of Balboa Bank & Trust; (2) 
return of control, directly or indirectly, to any Specially 
Designated National (SDN); or (3) return of assets to any SDN.

Gregory T. Gatjanis,

Acting Director, Office of Foreign Assets Control.

    Dated: June 10, 2016.

OFFICE OF FOREIGN ASSETS CONTROL

Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598

GENERAL LICENSE NO. 5B

Authorizing Certain Transactions and Activities Related to the 
Panamanian Government Seizure of Balboa Bank & Trust

    (a) General License No. 5A, dated June 10, 2016, is replaced and 
superseded in its entirety by this General License No. 5B.
    (b) Except as provided in paragraph (c), the following 
transactions and activities otherwise prohibited by the Foreign 
Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and the 
Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part 598, 
are authorized:
    (1) Transactions and activities that are necessary during the 
reorganization of Balboa Bank & Trust (Balboa Bank) by the 
Superintendency of Banking of Panama (Superintendencia de Bancos de 
Panama) (Superintendency) and the reorganizer appointed by the 
Superintendency pursuant to applicable Panamanian law following 
Balboa Bank's seizure by the Superintendency, for the analysis of, 
and recommendations regarding, financial viability and 
reorganization, or to facilitate, negotiate, or agree to Balboa 
Bank's reorganization and any related sale, disposition, or 
transfer, including the exportation, re-exportation, or provision, 
directly or indirectly, of the following:
    (i) Software, hardware, and related services, including 
information technology management services;
    (ii) Goods and services related to bank employment and 
administration, as well as building maintenance and building 
operations; and
    (iii) Auditing, consulting, legal, investment banking, and other 
professional services.
    (2) Transactions and activities related to payments on loans and 
other obligations, in effect prior to May 5, 2016, by any non-
designated Balboa Bank customers to Balboa Bank, provided such 
payments are remitted to the account established at Banco Nacional 
de Panama by the Superintendency.
    (c) This general license does not authorize:
    (1) The unblocking of any property blocked pursuant to the 
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and 
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part 
598;
    (2) Any transactions or activities otherwise prohibited by any 
Executive order or any other part of 31 CFR chapter V, or any 
transactions or activities with any individual or entity other than 
Balboa Bank that is listed on the Office of Foreign Assets Control's 
List of Specially Designated Nationals and Blocked Persons or that 
otherwise constitutes a person whose property and interests in 
property are blocked; or
    (3) Any transactions or activities to finalize, close, or 
exchange assets or any other thing of value related to the sale, 
disposition, or transfer of Balboa Bank.
    Note to paragraph (c)(3): In the event a transaction or activity 
to finalize, close, or exchange assets or any other thing of value 
related to the sale, disposition, or transfer of Balboa Bank 
involves a U.S. person or is otherwise subject to U.S. jurisdiction, 
a separate license from the Office of Foreign Assets Control is 
required.
    (d) U.S. persons participating in transactions authorized by 
this general license are required, within 10 business days after the 
transactions, to file a report on the transactions, including the 
parties involved, the type and scope of activities conducted, and 
the dates of the activities, with the Office of Foreign Assets 
Control, Sanctions Compliance & Evaluation Division, U.S. Department 
of the Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank 
Building, Washington, DC 20220. Reports may also be filed via email 
to [email protected].
    (e) Unless extended or revoked, this authorization expires at 
12:01 a.m. eastern daylight time, February 3, 2017.
    Note to paragraph (e): Grounds for revocation include: (1) 
suspension or termination of the Panamanian Government's seizure of 
administrative and operating control of Balboa Bank; (2) return of 
control, directly or indirectly, to any Specially Designated 
National (SDN); or (3) return of assets to any SDN.

John E. Smith,

Acting Director, Office of Foreign Assets Control.

    Dated: July 21, 2016.

OFFICE OF FOREIGN ASSETS CONTROL

Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598

GENERAL LICENSE NO. 5C

Authorizing Certain Transactions and Activities Related to the 
Panamanian Government Seizure of Balboa Bank & Trust

    (a) General License No. 5B, dated July 21, 2016, is replaced and 
superseded in its entirety by this General License No. 5C.
    (b) Except as provided in paragraph (c), the following 
transactions and activities otherwise prohibited by the Foreign 
Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and the 
Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part 598, 
are authorized:
    (1) Transactions and activities that are necessary during the 
reorganization of Balboa Bank & Trust (Balboa Bank) by the

[[Page 73645]]

Superintendency of Banking of Panama (Superintendencia de Bancos de 
Panama) (Superintendency) and the reorganizer appointed by the 
Superintendency pursuant to applicable Panamanian law following 
Balboa Bank's seizure by the Superintendency, for the analysis of, 
and recommendations regarding, financial viability and 
reorganization, or to facilitate, negotiate, or agree to Balboa 
Bank's reorganization and any related sale, disposition, or 
transfer, including the exportation, re-exportation, or provision, 
directly or indirectly, of the following:
    (i) Software, hardware, and related services, including 
information technology management services;
    (ii) Goods and services related to bank employment and 
administration, as well as building maintenance and building 
operations; and
    (iii) Auditing, consulting, legal, investment banking, and other 
professional services.
    (2) Transactions and activities related to payments on loans and 
other obligations, in effect prior to May 5, 2016, by any non-
designated Balboa Bank customers to Balboa Bank, provided such 
payments are remitted to the account established at Banco Nacional 
de Panama by the Superintendency.
    (c) This general license does not authorize:
    (1) The unblocking of any property blocked pursuant to the 
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and 
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part 
598;
    (2) Any transactions or activities otherwise prohibited by any 
Executive order or any other part of 31 CFR chapter V, or any 
transactions or activities with any individual or entity other than 
Balboa Bank that is listed on the Office of Foreign Assets Control's 
List of Specially Designated Nationals and Blocked Persons or that 
otherwise constitutes a person whose property and interests in 
property are blocked; or
    (3) Any transactions or activities to finalize, close, or 
exchange assets or any other thing of value related to the sale, 
disposition, or transfer of Balboa Bank.
    Note to paragraph (c)(3): In the event a transaction or activity 
to finalize, close, or exchange assets or any other thing of value 
related to the sale, disposition, or transfer of Balboa Bank 
involves a U.S. person or is otherwise subject to U.S. jurisdiction, 
a separate license from the Office of Foreign Assets Control is 
required.
    (d) U.S. persons participating in transactions authorized by 
this general license are required, within 10 business days after the 
transactions, to file a report on the transactions, including the 
parties involved, the type and scope of activities conducted, and 
the dates of the activities, with the Office of Foreign Assets 
Control, Sanctions Compliance & Evaluation Division, U.S. Department 
of the Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank 
Building, Washington, DC 20220. Reports may also be filed via email 
to [email protected].

Andrea Gacki,

Acting Director, Office of Foreign Assets Control.

    Dated: February 1, 2017.

OFFICE OF FOREIGN ASSETS CONTROL

Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598

GENERAL LICENSE NO. 6

Authorizing Certain Transactions and Activities Related to the 
Intervention by the Superintendency of Securities Markets of Panama in 
Balboa Securities, Corp.

    (a) Except as provided in paragraph (b), all transactions and 
activities otherwise prohibited by the Foreign Narcotics Kingpin 
Designation Act, 21 U.S.C. 1901-1908, and the Foreign Narcotics 
Kingpin Sanctions Regulations, 31 CFR part 598, that are necessary 
for the inventory of assets and liabilities, and development of a 
final report, on Balboa Securities, Corp., by the administrator 
appointed by the Superintendency of Securities Markets of Panama 
(Superintendencia del Mercados de Valores de Panama) 
(Superintendency) pursuant to applicable Panamanian law following 
the intervention by the Superintendency in the Panamanian securities 
firm, Balboa Securities, Corp., are authorized, including the 
exportation, reexportation, or provision, directly or indirectly, of 
the following:
    (1) Software, hardware, and related services, including 
information technology management services;
    (2) Goods and services related to securities firm 
administration, building maintenance, and building operations; and
    (3) Auditing, consulting, legal, and other professional 
services.
    (b) This general license does not authorize:
    (1) The unblocking of any property blocked pursuant to the 
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and 
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part 
598; or
    (2) Any transactions or dealings otherwise prohibited by any 
Executive order or any other part of 31 CFR chapter V, or any 
transactions or dealings with any individual or entity other than 
Balboa Securities, Corp. that is listed on the Office of Foreign 
Assets Control's List of Specially Designated Nationals or Blocked 
Persons or that otherwise constitutes a person whose property and 
interests in property are blocked.
    (c) U.S. persons participating in transactions authorized by 
this general license are required, within 10 business days after the 
transactions, to file a report on the transactions, including the 
parties involved, the type and scope of activities conducted, and 
the dates of the activities, with the Office of Foreign Assets 
Control, Sanctions Compliance & Evaluation Division, U.S. Department 
of the Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank 
Building, Washington, DC 20220. Reports may also be filed via email 
to [email protected].
    (d) Unless extended or revoked, this authorization expires at 
12:01 a.m. eastern daylight time, June 14, 2016.
    Note to paragraph (d): Grounds for revocation include: (1) 
suspension or termination of the Panamanian government's 
intervention in Balboa Securities, Corp.;
    (2) return of control, directly or indirectly, to any Specially 
Designated National (SDN); or (3) return of assets to any SDN.

John E. Smith,

Acting Director, Office of Foreign Assets Control.

    Dated: May 13, 2016.

OFFICE OF FOREIGN ASSETS CONTROL

Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598

GENERAL LICENSE NO. 6A

Authorizing Certain Transactions and Activities Related to the 
Intervention by the Superintendency of Securities Markets of Panama in 
Balboa Securities, Corp.

    (a) General License No. 6, dated May 13, 2016, is replaced and 
superseded in its entirety by this General License No. 6A.
    (b) Except as provided in paragraph (c), all transactions and 
activities otherwise prohibited by the Foreign Narcotics Kingpin 
Designation Act, 21 U.S.C. 1901-1908, and the Foreign Narcotics 
Kingpin Sanctions Regulations, 31 CFR part 598, that are necessary 
for the inventory of assets and liabilities, and development of a 
final report, on Balboa Securities, Corp., by the administrator 
appointed by the Superintendency of Securities Markets of Panama 
(Superintendencia del Mercados de Valores de Panama) 
(Superintendency) pursuant to applicable Panamanian law following 
the intervention by the Superintendency in the Panamanian securities 
firm, Balboa Securities, Corp., are authorized, including the 
exportation, reexportation, or provision, directly or indirectly, of 
the following:
    (1) Software, hardware, and related services, including 
information technology management services;
    (2) Goods and services related to securities firm 
administration, building maintenance, and building operations; and
    (3) Auditing, consulting, legal, and other professional 
services.
    (c) This general license does not authorize:
    (1) The unblocking of any property blocked pursuant to the 
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and 
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part 
598; or
    (2) Any transactions or dealings otherwise prohibited by any 
Executive order or any other part of 31 CFR chapter V, or any 
transactions or dealings with any individual or entity other than 
Balboa Securities, Corp. that is listed on the Office of Foreign 
Assets Control's List of Specially Designated Nationals or Blocked 
Persons or that otherwise constitutes a person whose property and 
interests in property are blocked.
    (d) U.S. persons participating in transactions authorized by 
this general license are required, within 10 business days after the 
transactions, to file a report on the transactions, including the 
parties involved, the type and scope of activities conducted, and 
the dates of the activities, with the Office of Foreign Assets 
Control, Sanctions Compliance & Evaluation Division, U.S. Department 
of the Treasury, 1500

[[Page 73646]]

Pennsylvania Avenue NW, Freedman's Bank Building, Washington, DC 
20220. Reports may also be filed via email to 
[email protected].
    (e) Unless extended or revoked, this authorization expires at 
12:01 a.m. eastern daylight time, July 22, 2016.
    Note to paragraph (e): Grounds for revocation include: (1) 
suspension or termination of the Panamanian government's 
intervention in Balboa Securities, Corp.; (2) return of control, 
directly or indirectly, to any Specially Designated National (SDN); 
or (3) return of assets to any SDN.

Gregory T. Gatjanis,

Acting Director, Office of Foreign Assets Control.

    Dated: June 10, 2016.

OFFICE OF FOREIGN ASSETS CONTROL

Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598

GENERAL LICENSE NO. 6B

Authorizing Certain Transactions and Activities Related to the 
Intervention by the Superintendency of Securities Markets of Panama in 
Balboa Securities, Corp.

    (a) General License No. 6A, dated June 10, 2016, is replaced and 
superseded in its entirety by this General License No. 6B.
    (b) Except as provided in paragraph (c), all transactions and 
activities otherwise prohibited by the Foreign Narcotics Kingpin 
Designation Act, 21 U.S.C. 1901-1908, and the Foreign Narcotics 
Kingpin Sanctions Regulations, 31 CFR part 598, that are necessary 
during the reorganization of Balboa Securities, Corp. (Balboa 
Securities) by the Superintendency of Securities Markets of Panama 
(Superintendencia del Mercados de Valores de Panama) 
(Superintendency) and the reorganizer appointed by the 
Superintendency pursuant to applicable Panamanian law following the 
intervention by the Superintendency, for the inventory of assets and 
liabilities of Balboa Securities or to facilitate, negotiate, or 
agree to Balboa Securities' reorganization and any related sale, 
disposition, or transfer, are authorized, including the exportation, 
re-exportation, or provision, directly or indirectly, of the 
following:
    (1) Software, hardware, and related services, including 
information technology management services;
    (2) Goods and services related to securities firm employment and 
administration, as well as building maintenance and building 
operations; and
    (3) Auditing, consulting, legal, investment banking, and other 
professional services.
    (c) This general license does not authorize:
    (1) The unblocking of any property blocked pursuant to the 
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and 
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part 
598;
    (2) Any transactions or activities otherwise prohibited by any 
Executive order or any other part of 31 CFR chapter V, or any 
transactions or activities with any individual or entity other than 
Balboa Securities that is listed on the Office of Foreign Assets 
Control's List of Specially Designated Nationals and Blocked Persons 
or that otherwise constitutes a person whose property and interests 
in property are blocked; or
    (3) Any transactions or activities to finalize, close, or 
exchange assets or any other thing of value related to the sale, 
disposition, or transfer of Balboa Securities.
    Note to paragraph (c)(3): In the event a transaction or activity 
to finalize, close, or exchange assets or any other thing of value 
related to the sale, disposition, or transfer of Balboa Securities 
involves a U.S. person or is otherwise subject to U.S. jurisdiction, 
a separate license from the Office of Foreign Assets Control is 
required.
    (d) U.S. persons participating in transactions authorized by 
this general license are required, within 10 business days after the 
transactions, to file a report on the transactions, including the 
parties involved, the type and scope of activities conducted, and 
the dates of the activities, with the Office of Foreign Assets 
Control, Sanctions Compliance & Evaluation Division, U.S. Department 
of the Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank 
Building, Washington, DC 20220. Reports may also be filed via email 
to [email protected].
    (e) Unless extended or revoked, this authorization expires at 
12:01 a.m. eastern daylight time, February 3, 2017.
    Note to paragraph (e): Grounds for revocation include: (1) 
suspension or termination of the Panamanian Government's 
intervention in Balboa Securities; (2) return of control, directly 
or indirectly, to any Specially Designated National (SDN); or (3) 
return of assets to any SDN.

John E. Smith,

Acting Director, Office of Foreign Assets Control.

    Dated: July 21, 2016.

OFFICE OF FOREIGN ASSETS CONTROL

Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598

GENERAL LICENSE NO. 6C

Authorizing Certain Transactions and Activities Related to the 
Intervention by the Superintendency of Securities Markets of Panama in 
Balboa Securities, Corp.

    (a) General License No. 6B, dated July 21, 2016, is replaced and 
superseded in its entirety by this General License No. 6C.
    (b) Except as provided in paragraph (c), all transactions and 
activities otherwise prohibited by the Foreign Narcotics Kingpin 
Designation Act, 21 U.S.C. 1901-1908, and the Foreign Narcotics 
Kingpin Sanctions Regulations, 31 C.P.R. part 598, that are 
necessary during the reorganization of Balboa Securities, Corp. 
(Balboa Securities) by the Superintendency of Securities Markets of 
Panama (Superintendencia del Mercados de Valores de Panama) 
(Superintendency) and the reorganizer appointed by the 
Superintendency pursuant to applicable Panamanian law following the 
intervention by the Superintendency, for the inventory of assets and 
liabilities of Balboa Securities or to facilitate, negotiate, or 
agree to Balboa Securities' reorganization and any related sale, 
disposition, or transfer, are authorized, including the exportation, 
re-exportation, or provision, directly or indirectly, of the 
following:
    (1) Software, hardware, and related services, including 
information technology management services;
    (2) Goods and services related to securities firm employment and 
administration, as well as building maintenance and building 
operations; and
    (3) Auditing, consulting, legal, investment banking, and other 
professional services.
    (c) This general license does not authorize:
    (1) The unblocking of any property blocked pursuant to the 
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and 
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part 
598;
    (2) Any transactions or activities otherwise prohibited by any 
Executive order or any other part of 31 CFR chapter V, or any 
transactions or activities with any individual or entity other than 
Balboa Securities that is listed on the Office of Foreign Assets 
Control's List of Specially Designated Nationals and Blocked Persons 
or that otherwise constitutes a person whose property and interests 
in property are blocked; or
    (3) Any transactions or activities to finalize, close, or 
exchange assets or any other thing of value related to the sale, 
disposition, or transfer of Balboa Securities.
    Note to paragraph (c)(3): In the event a transaction or activity 
to finalize, close, or exchange assets or any other thing of value 
related to the sale, disposition, or transfer of Balboa Securities 
involves a U.S. person or is otherwise subject to U.S. jurisdiction, 
a separate license from the Office of Foreign Assets Control is 
required.
    (d) U.S. persons participating in transactions authorized by 
this general license are required, within 10 business days after the 
transactions, to file a report on the transactions, including the 
parties involved, the type and scope of activities conducted, and 
the dates of the activities, with the Office of Foreign Assets 
Control, Sanctions Compliance & Evaluation Division, U.S. Department 
of the Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank 
Building, Washington, DC 20220. Reports may also be filed via email 
to [email protected].
    (e) Unless extended or revoked, this authorization expires at 
12:01 a.m. eastern daylight time, April 7, 2017.
    Note to paragraph (e): Grounds for revocation include: (1) 
suspension or termination of the Panamanian Government's 
intervention in Balboa Securities; (2) return of control, directly 
or indirectly, to any Specially Designated National (SDN); or (3) 
return of assets to any SDN.

Andrea Gacki,

Acting Director, Office of Foreign Assets Control.

    Dated: February 1, 2017.

[[Page 73647]]

OFFICE OF FOREIGN ASSETS CONTROL

Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598

GENERAL LICENSE NO. 7

Authorizing Certain Transactions and Activities Related to Importadora 
Maduro, S.A., Maduro Internacional, S.A., and Lindo & Maduro, S.A.

    (a) Except as provided in paragraph (b), all transactions and 
activities otherwise prohibited by the Foreign Narcotics Kingpin 
Designation Act, 21 U.S.C. 1901-1908, and the Foreign Narcotics 
Kingpin Sanctions Regulations, 31 CFR part 598, that are necessary 
to (1) maintain operations or (2) facilitate, negotiate, or agree to 
the sale, disposition, or transfer of Importadora Maduro, S.A.; 
Maduro Internacional, S.A.; and Lindo & Maduro, S.A., following the 
actions of the Government of Panama related to the temporary removal 
of ownership and control by certain Specially Designated Narcotics 
Traffickers, are authorized.
    (b) This general license does not authorize:
    (1) Any transactions or activities to finalize, close, or 
exchange assets or any other thing of value related to the sale, 
disposition, or transfer of Importadora Maduro, S.A.; Maduro 
Internacional, S.A.; and Lindo & Maduro, S.A.;
    Note to paragraph (b)(l): In the event a transaction or activity 
to finalize, close, or exchange assets or any other thing of value 
related to the sale, disposition, or transfer of lmportadora Maduro, 
S.A.; Maduro Internacional, S.A.; and Lindo & Maduro, S.A. involves 
a U.S. person or is otherwise subject to U.S. jurisdiction, a 
separate license from the Office of Foreign Assets Control is 
required.
    (2) The unblocking of any property blocked pursuant to the 
Foreign Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and 
the Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part 
598; or
    (3) Any transactions or dealings otherwise prohibited by any 
Executive order or any other part of 31 CFR chapter V, or any 
transactions or dealings with any individual or entity other than 
Importadora Maduro, S.A.; Maduro Internacional, S.A.; and Lindo & 
Maduro, S.A., that is listed on the Office of Foreign Assets 
Control's List of Specially Designated Nationals and Blocked Persons 
or that otherwise constitutes a person whose property and interests 
in property are blocked.
    (c) U.S. persons participating in transactions authorized by 
this general license are required, within 10 business days after the 
activities conclude, to file a report on the transactions with the 
Office of Foreign Assets Control, Sanctions Compliance & Evaluation 
Division, U.S. Department of the Treasury, 1500 Pennsylvania Avenue 
NW, Freedman's Bank Building, Washington, DC 20220. Such reports 
shall include the following numbered sections and information:
    (1) Estimated or actual dollar value of the transaction(s), as 
determined by the value of the goods, services, or contract;
    (2) The parties involved;
    (3) The type and scope of activities conducted; and
    (4) The dates and duration of the activities.
    Reports may also be filed via email to [email protected].
    (d) Unless extended or revoked, this authorization expires at 
12:01 a.m. eastern daylight time, December 14, 2016.

John E. Smith,

Acting Director, Office of Foreign Assets Control.

    Dated: June 14, 2016.

Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2022-26182 Filed 11-30-22; 8:45 am]
BILLING CODE 4810-AL-P