NKSPEA Boilerplate added to a ton of OFAC North Korean designations

Pursuant to the National Defense Authorization Act for Fiscal Year 2020, the North Korea Sanctions and Policy Enhancement Act (NKSPEA) was modified to prohibit foreign subsidiaries of U.S. financial institutions from knowingly engaging in transactions with Specially Designated Nationals (SDNs) that have been designated under North Korea-related authorities.  In order to clarify to the private sector what SDNs have this prohibition, OFAC is introducing a descriptive text: “Transactions Prohibited For Persons Owned or Controlled by U.S. Financial Institutions: North Korea Sanctions Regulations section 510.214.”  OFAC has added this descriptive text to 490 SDN records as an administrative update to the SDN List.