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, a director disqualification sanction and a 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 and economic resources, report findings immediately to the Policy & Resources Committee and refrain from making funds or economic resources available to designated persons, entities they own or control, or parties acting on their behalf, unless covered by a permitted derogation or licence. Firms that identify an affected relationship must also report it to the Commission as soon as reasonably practicable after meeting their statutory reporting obligations. The report must identify the relevant customer, beneficial owner, key principal, transaction or asset and describe the relationship or transaction, including its value.
Guernsey Financial Services Commission notifies businesses of two Iran sanctions designations and immediate asset freezes
The Guernsey Financial Services Commission has notified businesses that Ruhollah Bazghandi and Shahram Ali Reza Tamarzadeh Jakki are subject to asset freezes, director disqualification sanctions and travel bans under the Iran sanctions regime. Businesses must check for affected relationships, freeze relevant assets and make the required reports to the Policy & Resources Committee and, where applicable, the Commission.