Notices

• Financial Sanction Notice
• Feb 19, 2020

Sanction Notice 6 of 2020

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 in February 2020:

• FSN- 11 -20, which concerns the addition by the United Nations Security Council of 1 individual to the ISIL (Da’esh) and Al-Qaida Organisations financial sanctions regime.
• FSN- 12-20, which concerns the addition by the United Nations Security Council of I individual to the Democratic Republic of the Congo financial sanctions regime.
• FSN-13-20, which advices that three Hizballah designations have been renewed under the United Kingdom’s Terrorist-Asset Freezing etc. Act 2010 (Part I, including Part I of Schedule 2 was extended to the Turks and Caicos Islands).
• FSN-I 4-20, which concerns the amendment of I entry to the Democratic Republic of the Congo financial sanctions regime.
• FSN-I 5-20, which concerns the addition of I 0 entries to the Syria financial sanctions 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, 20 I 0 (as amended), and the Anti-Money Laundering and Prevention of Terrorist Financing Code 201 I (as amended), to pay careful attention to the referenced Financial Sanctions Notice.

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);
• 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

Turks and Caicos Islands Financial Services Commission.