Guernsey Financial Services Commission alerts firms that Al-Nusrah Front for the People of the Levant has been removed from the UK ISIL and Al-Qaida sanctions list

The Guernsey Financial Services Commission (GFSC) issued a sanctions notice confirming that AL-NUSRAH FRONT FOR THE PEOPLE OF THE LEVANT has been removed from the UK sanctions list under the ISIL (Da’esh) and Al-Qaida regime. The removed designation is identified as Unique ID AQD0026 and UN Reference Number QDe.137. The UK sanctions regime is given effect in the Bailiwick of Guernsey through local regulations made under the Sanctions (Bailiwick of Guernsey) Law 2018. Where a firm identifies an affected relationship linked to the designation, it should notify the GFSC by email with brief details of the connection and measures taken or planned, and submit a report under Handbook Rule 12.37 setting out at least the relevant customer or transaction, the nature of the relationship and the transaction or asset value, as soon as reasonably practicable after meeting statutory reporting requirements to the States of Guernsey Policy and Resources Committee.