FINANCIAL REPORTING AUTHORITY (CAYFIN) Financial Sanctions Notice 22/05/2019 Syria Introduction 1. Council Regulation (EU) 36/2012 (“the Regulation”) imposing financial sanctions against Syria has been amended. Notice summary (Full details are provided in the Annex to this Notice) 2. 9 entries (detailed in the Annex to this Notice) have been removed from the consolidated list and are no longer subject to an asset freeze. 3. 29 entries (detailed in the Annex to this Notice) have been amended and are still subject to an asset freeze: Delivery Address: 133 Elgin Ave, 4 th Floor Government Administrative Building Grand Cayman CAYMAN ISLANDS Direct Tel No. (345) 244-2394 Tel No. (345) 945-6267 Fax No. (345) 945-6268 Email: [email protected]Mailing Address: P.O. Box 1054 Grand Cayman KY1-1102 CAYMAN ISLANDS
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FINANCIAL REPORTING AUTHORITY - FRA...Mohammed, Dib (2) ZEITUN, Mohamed, Dib Passport Details: D000001300 (Diplomatic) Position: Head of General Security Directorate Listed on: 10/05/2011
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FINANCIAL REPORTING AUTHORITY
(CAYFIN)
Financial Sanctions Notice 22/05/2019
Syria
Introduction
1. Council Regulation (EU) 36/2012 (“the Regulation”) imposing financial sanctions against Syria has been amended.
Notice summary (Full details are provided in the Annex to this Notice)
2. 9 entries (detailed in the Annex to this Notice) have been removed from the consolidated list and are no longer subject to an asset freeze.
3. 29 entries (detailed in the Annex to this Notice) have been amended and are still
subject to an asset freeze:
Delivery Address: 133 Elgin Ave, 4
th Floor
Government Administrative Building Grand Cayman CAYMAN ISLANDS Direct Tel No. (345) 244-2394 Tel No. (345) 945-6267 Fax No. (345) 945-6268 Email: [email protected]
Mailing Address: P.O. Box 1054
Grand Cayman KY1-1102 CAYMAN ISLANDS
What you must do
4. You must:
i. check whether you maintain any accounts or hold any funds or economic
resources for the persons set out in the Annex to this Notice;
ii. freeze such accounts, and other funds or economic resources;
iii. refrain from dealing with the funds or assets or making them available (directly or indirectly) to such persons unless licensed by the Governor;
iv. report any findings to the FRA at [email protected], together with
any additional information that would facilitate compliance with the Regulation;
v. Provide any information concerning the frozen assets of designated persons to the FRA at [email protected] by completing and submitting a TF/PF Asset Freeze Report Form. Information reported to FRA may be passed on to other regulatory authorities or law enforcement.
5. Where a relevant institution has already reported details of accounts, other funds or economic resources held frozen for designated persons, they are not required to report these details again.
6. Failure to comply with financial sanctions legislation or to seek to circumvent its
provisions is a criminal offence.
Legislative details
7. On 20 May 2019 Council Implementing Regulation (EU) 2019/798 (“the Amending Regulation”) was published in the Official Journal of the European Union (O.J. L 132, 20.5.2019, p.1) by the Council of the European Union.
8. The Amending Regulation amended Annex II to the Regulation with effect from 21
May 2019. Further Information
9. A copy of the Amending Regulation can be obtained from the website of the Official Journal of the European Union: https://eurlex.europa.eu/legalcontent/EN/TXT/PDF/?uri=CELEX:32019R0798&from=EN
10. Copies of recent Notices, certain EU Regulations and UK legislation can be obtained from the Syria financial sanctions page on the GOV.UK website:
of issue: Switzerland); N 004599905 (place of issue: Syrian Arab Republic) Position:
Primary Shareholder of Exceed Development and Investment Company Other
Information: Leading businessperson operating in Syria, who holds a 67 % stake in
Exceed Development and Investment, which has entered into a USD 17.7 million joint
venture for the construction of Marota City, a regime-backed luxury residential and
commercial development. Through his participation in the Marota City development,
Hayan Mohammad Nazem Qaddour benefits from and/or supports the Syrian regime.
Listed on: 22/01/2019 Last Updated: 22/01/2019 22/05/2019 Group ID: 13761.
28. AL-AZAB Imad Muwaffaq
DOB: --/--/1970. POB: Damascus Countryside Position: Minister of Information Listed
on: 04/03/2019 Last Updated: 04/03/2019 22/05/2019 Group ID: 13773.
29. IBRAHIM Bassam Bashir
DOB: --/--/1960. POB: Hama Other Information: Minister of Higher Education.
Appointed in November 2018. Listed on: 04/03/2019 Last Updated: 04/03/2019
22/05/2019 Group ID: 13774.
Financial Reporting Authority
Portfolio of Legal Affairs
22/05/2019
PROCEDURE FOR REMOVING PERSONS FROM THE CONDOLIDATED LIST AND UN-
FREEZING ASSETS:
On receipt of the Financial Sanction Notices where an entry has been removed from the
consolidated list and is no longer subject to any assets freeze:
“You must immediately on receipt of the Financial Sanction Notice advising of removal of person
and/or entity from the Consolidated List –
i. Check whether you have frozen assets of any person or entity removed from the Consolidated List and verify that the person or entity is no longer subject to an asset freeze.
ii. Remove the person or entity from your institution’s list of persons or entities subject to financial sanction;
iii. Un-freeze the assets of the person or entity and where necessary re-activate all
relevant accounts;
iv. Send advice to person or entity that the assets are no longer subject to an asset freeze;