The Guernsey Financial Services Commission published a Global Human Rights sanctions notice advising that the UK Global Human Rights Sanctions Regulations 2020 entry for EDEN LEVI (Group ID: 16485) has been amended and remains subject to an asset freeze in the Bailiwick of Guernsey. The UK regulations are implemented locally under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations 2020 made under the Sanctions (Bailiwick of Guernsey) Law 2018. The notice reminds businesses to check whether they maintain any accounts or other relationships with the designated person (or any other designated person, entity or body under the relevant legislation) and to treat as frozen, with immediate effect, any funds, assets or economic resources directly or indirectly owned, held or controlled by them, including related interests and proceeds, and assets of persons acting on their behalf or at their direction. Firms must report any findings to the Policy & Resources Committee immediately and comply with the reporting obligations in section 14 of the Sanctions Law, and must not make funds or economic resources available (directly or indirectly) to designated persons, entities owned or controlled by them, or persons acting on their behalf, except where a permitted derogation applies or a licence has been issued by the Policy & Resources Committee. Where an affected relationship is identified, firms should also inform the Commission and submit a Handbook Rule 12.37 report setting out, at a minimum, the relevant customer or transaction linked to the sanctioned person and the nature and value of the relationship or transaction, as soon as reasonably practicable after statutory reporting to the Policy & Resources Committee.

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