Newsletter 298 from August 5, 2014 International Sanction
Dear Sir or Madam,
We are pleased to inform you of the following amendments to Ordinances as notified by FINMA regarding:
- The Ordinance of 30 March 2011 on Sanctions against Libya
- The Ordinance of 8 June 2012 on Sanctions against Syria
- The Ordinance of 2 October 2000 on Sanctions against Persons and Organisations with Connections to Osama Bin Laden, the “Al-Qaeda” group or the Taliban
- The Ordinance of 2 May 2014 on measures to prevent the circumvention of international sanctions in connection with the situation in Ukraine
- The Ordinance of 28 June 2006 on Sanctions against Belarus
1.
Amendment to the Appendix to the Ordinance of 2 May 2014 on measures to prevent the circumvention of international sanctions in connection with the situation in Ukraine (SR 946.231.176.72)
The Federal Department of Economic Affairs, Education and Research EAER amended the Appendix to the Ordinance on measures to prevent the circumvention of international sanctions in connection with the situation in Ukraine on 4 August 2014. 26 natural persons and 18 companies / organisations were added to the Appendix. The amendment came into force at 18:00 hours on 5 August 2014.
The amendment is available for consultation on the SECO website.
In accordance with the provisions of the Ordinance, financial intermediaries are requested to refrain from entering into new business relationships and report relevant business relationships to SECO.
The amendment is available for consultation on the SECO website.
In accordance with the provisions of the Ordinance, financial intermediaries are requested to refrain from entering into new business relationships and report relevant business relationships to SECO.
2.
Amendment to Appendix 2 to the Ordinance of 2 October 2000 on Sanctions against Persons and Organisations with Connections to Osama Bin Laden, the “Al-Qaeda” group or the Taliban (SR 946.203)
The Federal Department of Economic Affairs, Education and Research EAER amended Appendix 2 to the Ordinance on Sanctions against Persons and Organisations with Connections to Osama Bin Laden, the “Al-Qaeda” group or the Taliban on 4 August 2014. One organisation and one natural person were added to the Appendix. The amendment came into force at 18:00 hours on 5 August 2014.
The amendment is available for consultation on the SECO website.
Financial intermediaries are requested to immediately freeze the associated assets and to report relevant business relationships to SECO, in accordance with the provisions of the Ordinance. Reporting to SECO does not release a financial intermediary from its obligation to immediately report to the Reporting Center for Money Laundering in accordance with Article 9 of the Money Laundering Act.
The amendment is available for consultation on the SECO website.
Financial intermediaries are requested to immediately freeze the associated assets and to report relevant business relationships to SECO, in accordance with the provisions of the Ordinance. Reporting to SECO does not release a financial intermediary from its obligation to immediately report to the Reporting Center for Money Laundering in accordance with Article 9 of the Money Laundering Act.
3.
Amendment to Appendices 2 and 4 to the Ordinance of 30 March 2011 on Sanctions against Libya (SR 946.231.149.82)
The Federal Department of Economic Affairs, Education and Research EAER amended Appendices 2 and 4 to the Ordinance on Sanctions against Libya on 4 August 2014. The entries on two natural persons and one legal entity were updated. The amendment came into force at 18:00 hours on 5 August 2014.
The amendment is available for consultation on the State Secretariat for Economic Affairs (SECO) website.
Financial intermediaries are requested to report relevant business relationships to the State Secretariat for Economic Affairs (Seco) in accordance with the provisions of the Ordinance and to freeze the associated assets.
The amendment is available for consultation on the State Secretariat for Economic Affairs (SECO) website.
Financial intermediaries are requested to report relevant business relationships to the State Secretariat for Economic Affairs (Seco) in accordance with the provisions of the Ordinance and to freeze the associated assets.
4.
Amendment to Appendix 7 to the Ordinance of 8 June 2012 on Sanctions against Syria (SR 946.231.172.7)
The Federal Department of Economic Affairs, Education and Research EAER amended Appendix 7 to the Ordinance on Sanctions against Syria on 4 August 2014. Under this amendment, a further 12 natural persons were subjected to the finance and travel sanctions and one existing entry was updated. The amendment came into force at 18:00 hours on 5 August 2014.
The amendment is available for consultation on the SECO website.
In accordance with the provisions of the Ordinance on sanctions against Syria, financial intermediaries are requested to report relevant business relationships to SECO and to freeze the associated assets.
The amendment is available for consultation on the SECO website.
In accordance with the provisions of the Ordinance on sanctions against Syria, financial intermediaries are requested to report relevant business relationships to SECO and to freeze the associated assets.
5.
Amendment to the Appendix to the Ordinance of 28 June 2006 on Sanctions against Belarus (SR 946.231.116.9)
The Federal Department of Economic Affairs, Education and Research EAER amended the Appendix to the Ordinance on Sanctions against Belarus on 4 August 2014. One natural person was added to the Appendix and eight natural persons were deleted from the Appendix. The amendment came into force at 18:00 hours on 5 August 2014.
The amendment is available for consultation on the SECO website.
The amendment is available for consultation on the SECO website.
Financial intermediaries are requested to report relevant business relationships to SECO in accordance with the provisions of the Ordinance on Sanctions against Belarus and to freeze the associated assets.
We hope that this newsletter is of service to you.
Yours faithfully,
VQF
Financial Services Standards Association
Baarerstrasse 112, Postfach
6302 Zug
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Phone +41 (0)41 - 763 28 20
Fax +41 (0)41 - 763 28 23
e-mail:info@vqf.ch
Financial Services Standards Association
Baarerstrasse 112, Postfach
6302 Zug
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Phone +41 (0)41 - 763 28 20
Fax +41 (0)41 - 763 28 23
e-mail:info@vqf.ch
Please note that only the German version is legally binding.