The Guernsey Financial Services Commission published a Global Human Rights sanctions notice confirming that four individuals have been added to the list of persons designated under the UK Global Human Rights Sanctions Regulations 2020 and are subject to an asset freeze in the Bailiwick of Guernsey. The designations are Shavendra Silva (GHR0148), Wasantha Karannagodo (GHR0149), Jagath Jayasuriya (GHR0150) and Vinayagamoorthy Muralitharan (GHR0151), and appear on the consolidated list; the UK regulations are given effect locally through the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations 2020 made under the Sanctions (Bailiwick of Guernsey) Law 2018. Businesses must check whether they have any accounts or other relationships with the named persons (or any other designated person, entity or body) and freeze, with immediate effect, any relevant funds, other assets or economic resources they directly or indirectly own, hold or control, including jointly held assets and proceeds such as interest or dividends, and assets held for persons acting on their behalf or at their direction. Any findings must be reported immediately to the States of Guernsey Policy & Resources Committee, and firms 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 under a permitted derogation or a licence issued by the Policy & Resources Committee; the Commission also expects notification and a report under Handbook Rule 12.37 after statutory reporting, covering at least the relevant customer/beneficial owner/key principal or linked transaction/asset and the nature and value of the relationship or transaction.

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