31 C.F.R. § 560.705 Penalty notice.
Title 31 - Money and Finance: Treasury
(a) No violation. If, after considering any presentations made in response to the prepenalty notice and any relevant facts, the Director determines that there was no violation by the person named in the prepenalty notice, he shall promptly notify the person in writing of the determination and that no monetary penalty will be imposed. (b) Violation. If, after considering any presentations made in response to the prepenalty notice, the Director determines that there was a violation by the person named in the prepenalty notice, he may issue a written notice of the imposition of the monetary penalty to that person.
Title 31: Money and Finance: Treasury
PART 560—IRANIAN TRANSACTIONS REGULATIONS
Subpart G—Penalties
§ 560.705 Penalty notice.