Regulatory Alerts2023-05-24
Added · Updated
Reporting in terms of Council Regulation (EU) No 267/2012 Concerning Restrictive Measures against Iran
The collation and transmission of information regarding entities and individuals subject to restrictive measures against Iran is now coordinated by the Sanctions Monitoring Board (SMB) rather than the MFSA. Credit institutions must report verification findings and attestations directly to the SMB on a yearly basis by the 15th of the first month of each year. Additionally, license holders are required to constantly monitor business relationships, verify records for connections to designated persons, and freeze any funds or economic resources in accordance with the National Interest (Enabling Powers) Act.
More like this from MFSA
MFSA published 5 documents in the last 30 days. We email you each new one the day it's published.
Topics
Share