The Guernsey Financial Services Commission has notified businesses that Ruhollah Bazghandi and Shahram Ali Reza Tamarzadeh Jakki have been designated under the United Kingdom’s Iran sanctions regime, which applies in the Bailiwick of Guernsey. Both individuals are subject to an asset freeze, director disqualification sanction and travel ban. All businesses must immediately check for accounts or other relationships involving the two individuals or any other designated person. They must freeze relevant funds, assets and economic resources, including jointly or indirectly owned or controlled property and assets held by persons acting on a designated person’s behalf. Businesses must not make funds or economic resources available to designated persons, entities they own or control, or persons acting for them, except under an authorized derogation or licence. Any findings must be reported immediately to the Policy & Resources Committee. Firms that identify an affected relationship must also report it to the Commission as soon as reasonably practicable after meeting their statutory reporting obligations, specifying the relevant customer, beneficial owner, key principal, transaction or asset, the nature of the relationship or transaction, and its value.
Guernsey Financial Services Commission requires immediate action on two Iran sanctions designations
The Guernsey Financial Services Commission has notified businesses that Ruhollah Bazghandi and Shahram Ali Reza Tamarzadeh Jakki are now subject to an asset freeze, director disqualification sanction and travel ban under the Iran sanctions regime. Businesses must check for affected relationships, freeze relevant assets immediately and make the required reports to the Policy & Resources Committee and the Commission.