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The Turks and Caicos Islands Financial Services Commission (“The Commission”) considers it necessary to advise the public of further developments in relation the Ukraine. On May 12, 2014 the European Union (EU) adopted Regulation No. 477.2014. A copy of this regulation may be access by the following link: This Regulation amends Regulation No. 269/2014 to stipulate additional persons and entities to be added to the list in of natural and legal persons, entities and bodies subject to restrictive measures in Annex 1 of the said Regulations. The Commission further advises that Regulation No.269/2014 formed a part of Notice No. 3 of 2014 issued by the FSC on May 12, 2014. This Notice corresponds to that Notice and the link provided to Regulation No. 269/2014 n that Notice. The Commission expects all relevant financial businesses to consider the impact of these developments on their anti-money laundering and anti- terrorist financing policies and procedures on a risk sensitive basis. We further advise that all required steps be taken to ensure financial businesses continue to meet their legal and regulatory anti-money laundering and anti- terrorist financing reporting obligations.

J. Kevin Higgins Managing Director