Guernsey updates guidance on sanctions and terrorist financing

The Guernsey Financial Services Commission has updated its web information on sanctions, terrorism financing and proliferation financing, calling on firms to familiarise themselves with the new guidance.

‘Towards the end of 2023 the Policy & Resources Committee issued a number of updates to its guidance on Sanctions, Terrorist Financing and Proliferation Financing including issuing an online Proliferation Financing training module, and presentation slides from recent industry presentations,’ the Commission explained in a notice, 10 January.

‘The Commission has updated its webpages on Sanctions, Terrorist Financing, and Proliferation Financing to reflect the additional guidance and documents issued and would encourage firms to familiarise themselves with this new guidance,’ It said.

In November, the Committee carried out a review of frozen assets linked to persons designated under the Russia (Sanctions) (EU Exit) Regulations 2019, noting that unlike the review by the UK’s Office of Foreign Sanctions Implementation (‘OFSI’), which covers all financial sanctions regimes implemented in the UK, the P&R review only covers the Russia regime.

https://www.gfsc.gg/news/updates-sanctions-terrorist-financing-and-proliferation-financing-guidance