Guernsey Financial Services Commission amends Marina Tauber Global Anti-Corruption sanctions entry and reiterates asset-freeze reporting duties

The Guernsey Financial Services Commission issued a sanctions notice advising that the UK consolidated list entry for Marina Tauber (Group ID: 16849), designated under the UK Global Anti-Corruption Sanctions Regulations 2021, has been amended and remains subject to an asset freeze as implemented in the Bailiwick of Guernsey. Firms must check whether they hold accounts for, or have any relationship with, the designated person (or any other person designated under the relevant legislation) and must treat as frozen, with immediate effect, any funds, assets or economic resources owned, held or controlled directly or indirectly, including related derived property and assets held on their behalf or at their direction. Any findings must be reported immediately to the States of Guernsey Policy & Resources Committee and firms must comply with the reporting obligations in section 14 of the Sanctions (Bailiwick of Guernsey) Law, 2018. Businesses must also refrain from making funds or economic resources available 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; affected relationships should also be reported to the Commission in line with Handbook Rule 12.37, including minimum information on the relevant customer or transaction and the nature and value of the relationship or transaction.