31 CFR 588.404
§ 588.404 Transactions ordinarily incident to a licensed transaction.
United States · 31 CFR — Money and Finance: Treasury · Status: effective
Cite this
- Citation
- 31 CFR 588.404, § 588.404 Transactions ordinarily incident to a licensed transaction, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/143236
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Full text
(a) Any transaction ordinarily incident to a licensed transaction and necessary to give effect thereto is also authorized, except:
(1) An ordinarily incident transaction, not explicitly authorized within the terms of the license, by or with a person whose property and interests in property are blocked pursuant to § 588.201; or
(2) An ordinarily incident transaction, not explicitly authorized within the terms of the license, involving a debit to a blocked account or a transfer of blocked property.
(b) For example, a license authorizing a person to complete a securities sale involving Company A, whose property and interests in property are blocked pursuant to § 588.201, also authorizes other persons to engage in activities that are ordinarily incident and necessary to complete the sale, including transactions by the buyer, broker, transfer agents, and banks, provided that such other persons are not themselves persons whose property and interests in property are blocked pursuant to § 588.201.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.