This Public Notice, from the Turks and Caicos Islands Financial Services Commission, serves to bring to the attention of all financial businesses, the following Financial Sanctions Notices which
were issued by the Attorney General’s Chambers on January 17, 2020:
- FSN-01-20, which concerns amendments which have been made to 5 individuals in the Mali financial sanctions regime;
- FSN-02-20, which concerns renewal of a listing under the United Kingdom’s Terrorist Asset Freezing Act; and
- FSN-03-20, which concerns the addition of one new entity and amendment of an existing entry under the United Kingdom’s Terrorist-Asset Freezing Act.
Obligations of financial businesses in response to the Financial Sanctions Notices
The Financial Services Commission wishes to advise its licensees and registrants, who are required to comply with the requirements of the Anti-Money Laundering and Prevention of Terrorist Financing Regulations, 20 I 0 (as amended), and the Anti-Money Laundering and Prevention of Terrorist Financing Code 2011 (as amended), to pay careful attention to the Financial Sanctions
Notices.
All financial businesses must:
- check whether they maintain any accounts or hold any funds or economic resources for the persons set out in the Annex to the full Notice which can be accessed via the Financial Sanctions Notices;
- freeze such accounts, and other funds or economic resources;
- suspend the provision of any financial services to that person;
- refrain from dealing with the funds or assets or making them available (directly or indirectly) to such persons unless licensed by the Governor;
- report any findings to the Governor, together with any additional information that would facilitate compliance with the
United Kingdom’s Terrorist-Asset Freezing Act ( Part I, including Part I of Schedule 2 was extended to the Turks and Caicos Islands);