Which entity is primarily concerned with the compliance of financial sanctions in the UK?

The correct answer is HM Treasury, which is the entity primarily concerned with the compliance of financial sanctions in the UK. HM Treasury oversees the implementation of financial sanctions as part of its responsibilities in managing the country’s economic and financial system. This includes enforcing sanctions that are imposed by the UK government and international measures, ensuring that entities and individuals within the UK adhere to these regulations.

HM Treasury also maintains the list of individuals and organizations that are subject to financial sanctions and is responsible for issuing licenses for transactions that might otherwise be prohibited under these sanctions. Their role is crucial in preventing financial crime and maintaining the integrity of the UK’s financial system.

The other options, while involved in various aspects of the financial system, do not hold primary responsibility for compliance with financial sanctions. The Bank of England focuses on monetary policy and financial stability, the Financial Conduct Authority regulates conduct within the financial services industry, and the Department for Business and Trade supports business growth and trade policy but does not specialize in sanctions compliance. Hence, HM Treasury stands out as the relevant authority in this context.