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This Public Notice 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 6th March

  • FSN-25-20 which concerns the amendment made to the identifying information for five
    individuals in the Libya regime.
  • FSN-26-20 which concerns the amendment made by the European Council, removing
    two individuals from the Ukraine (Mis-Appropriation and Human Rights) regime.

Obligations of financial businesses in response to the Financial Sanctions Notices

The Financial Services Commission advises its licensees and registrants, who are required to
comply with the requirements of the Anti-Money Laundering and Prevention of Terrorist
Financing Regulations 2010 (as amended), and the Anti-Money Laundering and Prevention of
Terrorist Financing Code 2011 (as amended), to pay careful attention to the referenced Financial
Sanctions Notices. All financial businesses must:

  1. 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
  2. freeze such accounts and other funds or economic resources
  3. refrain from dealing with the funds or assets, or making them available (directly or
    indirectly) to such persons unless licensed by the Governor
  4. 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 1,
    including Part 1 of Schedule 2 which was extended to the Turks and Caicos Islands)
  5. provide any information concerning the frozen assets of designated persons that the
    Governor may request. Information reported to the Governor may be passed on to other
    regulatory authorities or law enforcement.

Financial businesses should also inform the Commission if they have any dealings with the
designated persons and provide information on the measures applied in relation to them.

AML Supervision Department

PUBLIC NOTICE 15 of 2020