evaded measures of the sanctions regime. Individuals empowered to act as extensions of financial institutions of the Democratic People’s Republic of Korea operate in at least five countries with seeming impunity. . (10) North Korea has successfully tested short-range, submarine-launched, and intercontinental ballistic missiles, and is rapidly progressing in its development of a nuclear-armed missile that is capable of reaching United States territory. 3. Conditions with respect to certain accounts and transactions at United States financial institutions (a) Correspondent and payable-Through accounts held by foreign financial institutions (1) In general Not later than 180 days after the date of the enactment of this Act, the Secretary of the Treasury shall prescribe regulations to prohibit, or impose strict conditions on, the opening or maintaining in the United States of a correspondent account or a payable-through account by a foreign financial institution that the Secretary finds knowingly facilitates a significant transaction or provides significant financial services for a covered person. (2) Penalties (A) Civil penalty A person who violates, attempts to violate, conspires to violate, or causes a violation of regulations prescribed under this subsection shall be subject to a civil penalty in an amount not to exceed the greater of— (i) $250,000