On October 7, 2016, the Office of Foreign Assets Control (OFAC) updated the Frequently Asked Questions Relating to the Lifting of Certain U.S. Sanctions Under the Joint Comprehensive Plan of Action, amending two FAQs related to Financial and Banking Measures (C.7 and C.15), amending one FAQ related to Foreign Entities Owned or Controlled by U.S. Persons (K.19), and adding three FAQs related to due diligence (M.10, M.11., and M.12). OFAC updated these FAQs to provide further clarity on the scope of the sanctions lifting that occurred on Implementation Day of the JCPOA.