The Securities and Futures Commission (SFC) has reprimanded Guangdong Securities Limited (GSL), now known as Sinolink Securities (Hong Kong) Company Limited, and fined it $3 million for failures in complying with anti-money laundering guidelines when handling third party payments. The SFC found that between February 2011 and March 2013, GSL’s internal controls for handling payments […]

This email draws your attention to a Notice relating to Ukraine (Misappropriation and Human Rights) which was published today on GOV.UK. Council Regulation (EU) 208/2014 imposing financial sanctions in respect of Ukraine (Misappropriation and Human Rights) has been amended. The Notice can be found at the following address:  http://bit.ly/2lAcPoo The consolidated list of financial sanctions […]

A – FINANCIAL SANCTIONS REGIME CHANGES – What will they mean in practice? the UK government is taking sanctions breaches seriously and has enhanced its toolkit to take action where necessary. Police and Crime Bill receives Royal Assent, LNB News 01/02/2017 96 has received Royal Assent. B – WHAT ARE THE MOST SIGNIFICANT CHANGES BROUGHT […]

JFSC and Government of Jersey gave a presentation on 6 December on how UN and EU sanctions are implemented in and affect Jersey businesses. Key points that may not always be as prominent as they should be:- The process for suspected sanctions breaches to Minister For External Relations  externalrelations@gov.je The need to obtain a license […]

Agricultural Bank of China Ltd. has been ordered by the Federal Reserve to overhaul its protections against money laundering to address “significant deficiencies,” the U.S. regulator said in a statement Thursday. The lender, one of China’s biggest banks, will have to come up with a written plan within 60 days to fix the shortcomings in managing risk in its […]

This draws your attention to a Notice relating to Terrorism and Terrorist Financing which was published today on GOV.UK. Council Regulation (EC) No 2580/2001 imposing financial sanctions against Terrorism and Terrorist Financing has been amended to suspend the EU listing of 1 entity which still remains subject to a UK asset freeze. AMENDMENT Entity 1. […]

The European Union’s top diplomats have agreed to extend sanctions against Russia by six months to keep pressure on Moscow over the conflict in eastern Ukraine. Ambassadors from the 28 member states agreed unanimously on Tuesday to prolong the sanctions until 31 January 2017. The EU wants more time to assess whether Russia is abiding […]

OFSI has released new sanctions guidance – April 2016 – Read more in the link below: http://bit.ly/1q6qCAx