Guernsey Financial Services Commission issues Iran sanctions notice following UK designation of Aliakbar Ansari

The Guernsey Financial Services Commission published a sanctions notice advising that Aliakbar Ansari has been designated under the United Kingdom’s Iran (Sanctions) Regulations 2023, which are given effect in the Bailiwick of Guernsey under local implementing regulations made under the Sanctions (Bailiwick of Guernsey) Law 2018. The designation (OFSI ID 17215; Unique ID IRN0254) subjects the individual to an asset freeze and inclusion on the UK sanctions list. The notice reminds businesses to check for any accounts or other relationships with designated persons and to treat as frozen, with immediate effect, any funds, assets or economic resources owned, held or controlled directly or indirectly (including derived interests and assets held on behalf or at the direction of a designated person). Any findings must be reported immediately to the States of Guernsey Policy & Resources Committee in line with the reporting obligations in section 14 of the Sanctions Law. Firms must also refrain from making funds or economic resources available (directly or indirectly) to designated persons, entities they own or control, or persons acting on their behalf, unless covered by a permitted derogation or a licence issued by the Policy & Resources Committee, and must notify the Commission where an affected relationship is identified and submit a report meeting the minimum content requirements in Handbook Rule 12.37 as soon as reasonably practicable after completing the statutory reporting to the Policy & Resources Committee.