Aggregated News From Investment Management Regulators

Sanctions Notice – Chemical Weapons Sanctions | Guernsey Financial Services Commission

Report/Flag

Please complete the required fields.



Please be advised that the EU has listed 6 Russian officials and 1 entity under its chemical weapons sanctions regime. The 7 persons have been designated under Council Implementing Regulation (EU) 2020/1480 for their involvement in the assassination attempt on Alexei Navalny in August 2020.

The EU Regulation is implemented in Guernsey by the Chemical Weapons (Restrictive Measures) (Guernsey) Ordinance, 2018

MEASURES WHICH SHOULD BE TAKEN

All businesses must check whether they maintain any accounts or otherwise have any kind of relationship with the persons referred to above or to any other natural or legal person, entity or body designated under the legislation referred to above and must treat any funds, other assets or economic resources 

  • directly or indirectly belonging to, owned, held or controlled by them, whether wholly or jointly, or
  • derived from any funds or economic resources directly or indirectly belonging to, owned, held or controlled by them, whether wholly or jointly, or
  • belonging to individuals or entities acting on their behalf or at their direction, whether wholly or jointly

as frozen with immediate effect if this is not already the case. Businesses must report any findings to the Policy & Resources Committee immediately. They must also ensure that they have taken all other steps that may be required in order to comply with the reporting obligations at section 14 of the Sanctions Law.

Businesses must also refrain from making any funds or economic resources available directly or indirectly, wholly or jointly, to or for the benefit of 

  • any designated person, entity or body
  • any entity directly or indirectly owned or controlled by a designated person, entity or body, whether wholly or jointly
  • any individuals or entities acting on behalf or at the direction of a designated person, entity or body, whether wholly or jointly

other than in respect of transactions that come within a permitted derogation as determined by the Policy & Resources Committee, or in accordance with a licence issued by the Policy & Resources Committee, as the case may be.

The information referred to above is required by the Policy & Resources Committee in the exercise of its powers under section 15 of the Sanctions Law and under the Schedule to the Ordinance listed above.

Any information or queries should be sent to [email protected] with the subject line “Chemical Weapons Sanctions”.

Further information on the effect of asset freezes and related issues including licences is available on the States of Guernsey website at http://www.gov.gg/sanctions

Source link

Regulator Information

Recent Articles

Proposed amendments to permit reduced margin for swap position partial offsets held in inventory

Executive Summary IIROC is proposing amendments to the IIROC Rules (Proposed Amendments) that would permit margin reductions for Dealer Member (Dealer) inventory offsets of: non-equivalent...

FINRA Requests Comment on a Proposal to Shorten the Trade Reporting Timeframe for Transactions in Certain TRACE-Eligible Securities From 15 Minutes to One Minute

Summary FINRA is soliciting comment on a proposal to amend Rule 6730 to reduce the Trade Reporting and Compliance Engine (TRACE) trade reporting timeframe for transactions in all TRACE-Eligible Secur

FINRA Reminds Firms of Their Obligation to Supervise for Digital Signature Forgery and Falsification

Summary FINRA has received an increasing number of reports regarding registered representatives and associated persons (representatives) forging or falsifying customer signatures, and in some cases s

Notice of Annual Meeting of FINRA Firms and Election Proxy

Summary FINRA will conduct its Annual Meeting of firms on Friday, August 19, 2022, at 10:00 a.m. Eastern Time in the FINRA Visitors Center at 1735 K Street, NW, Washington, D.C.

Get the latest from Regulatory.News in your inbox!

×