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<p>The Financial Conduct Authority (FCA) is the competent authority responsible for
the UK initial public offering (IPO) process. Companies seeking to admit securities
to the Official List must apply to the UK Listing Authority (UKLA), a division of
the Financial Conduct Authority.</p><p> </p><p>The UKLA is responsible for assessing
the eligibility of any potential issuer and approving the prospectus of any company
that wishes to list its securities on the London Stock Exchange. The UKLA can request
advice from the Office of Financial Sanctions (OFSI), which is part of HM Treasury,
in relation to UN, UK or EU sanctions but responsibility for the admission of companies
to the Official List lies with the UKLA.</p><p> </p><p>OFSI assesses all reported
suspected breaches of UN, EU or UK financial sanctions to determine whether a breach
has occurred and if so, the extent of any breach before taking action. OFSI refers
the most serious cases to the National Crime Agency ("NCA") for criminal
investigation.</p><p> </p><p>The Office of Foreign Assets Control (OFAC) of the US
Treasury Department enforces US economic and trade sanctions. OFSI regularly engages
with OFAC on financial sanctions but OFSI has no role in ensuring compliance with
or enforcement with US sanctions.</p><p> </p>
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