[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR501.708]

[Page 572]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY
 
PART 501_REPORTING, PROCEDURES AND PENALTIES REGULATIONS--Table of Contents
 
          Subpart D_Trading With the Enemy Act (TWEA) Penalties
 
Sec. 501.708  Director's finding of no penalty warranted.

    If after considering any written response to the Prepenalty Notice 
submitted pursuant to Sec. 501.707 and any other relevant facts, the 
Director determines that there was no violation or that the violation 
does not warrant the imposition of a civil monetary penalty, the 
Director promptly shall notify the respondent in writing of that 
determination and that no civil monetary penalty pursuant to this 
subpart will be imposed.