THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.
Bulletin: NY000666
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Bulletin: NY000666
Washington DC has expanded the list of certain persons and prohibitions with respect to continued Russian efforts to undermine the sovereignty of Ukraine. Therefore, persons (including, without limitation, banks, virtual currency businesses, insurers and other financial institutions as well as insurance producers and third-party administrators) are prohibited from engaging in any financial transactions with persons on the SDN List, unless OFAC has authorized otherwise, through licenses listed on the OFAC website, or by obtaining a separate license for a particular transaction.
Therefore, Stewart recommends that you run as part of your continuation searches before closing an additional Designated Nationals search.
The link to the Presidential order is attached.
If you have any questions regarding this bulletin, please contact Stewart Title Insurance Company Legal Services at 212-922-0050.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None