Notices

• Financial Sanction Notice
• Jul 14, 2020

Sanction Notice 46 of 2020

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 Financial Sanctions Notice referenced in this Public Notice.

This Public Notice serves to bring to the attention of all financial businesses the Financial Sanctions Notice, FSN-56-20, which was issued by the Attorney General’s Chambers on 14 July 2020. The notice confirms the following advisory from the International Division of the Attorney General’s Chambers :

That 49 entries have been amended on the consolidated list and should remain subject to an asset freeze.
All financial businesses are advised that they are required to apply the following measures to the entities affected by FSN-56-50:

• 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.
• Refrain from dealing with the funds or assets or from 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 UK’s Terrorist-Asset Freezing Act (Part 1, including Part 1 of Schedule 2 which was extended to the Turks and Caicos Islands).
• 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 continue to inform the Commission if they have any dealings with designated persons and provide information on the measures applied in relation to them.

AML Supervision Department