[Code of Federal Regulations]

[Title 31, Volume 3]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR501.708]



[Page 58]

 

                  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.