The Bahamas Securities Commission has issued a compliance notice to its licensees and registrants following the addition of two entities to the United Nations Security Council Committee’s Haiti sanctions list under resolution 2653 (2022). Firms are directed to take appropriate steps to ensure full compliance with The Bahamas’ United Nations sanctions implementation framework and related anti-terrorism laws and regulations. The new listed entities are GRAN GRIF and VIV ANSANM (also known by multiple aliases including G-9). Where screening identifies a positive match, firms must complete the relevant Targeted Financial Sanctions Reporting Form and submit it to the Financial Intelligence Unit and the Office of the Attorney General, and send confirmation of those submissions to the Commission, within 24 hours of issuance of the notice. The Commission warned that failure to submit required reports is an offence punishable by a fine not exceeding $250,000, and may also result in disciplinary action including a minimum fine of $200 per day. Firms were also urged to regularly monitor the United Nations Security Council sanctions materials and consolidated list to support ongoing compliance and recordkeeping.
Bahamas Securities Commission 2025-07-29
Bahamas Securities Commission instructs licensees to screen for two new UN Haiti sanctions designations and report matches within 24 hours
The Bahamas Securities Commission issued a compliance notice to licensees after GRAN GRIF and VIV ANSANM were added to the UN Security Council Committee’s Haiti sanctions list. Firms must comply with The Bahamas’ sanctions framework and submit reports to the Financial Intelligence Unit and the Attorney General's Office within 24 hours. Non-compliance may result in fines up to $250,000 and additional disciplinary actions.