Newsletter 299 of 13 August 2014 International Sanction
Dear Sir or Madam,
Please find here below two amendments to Ordinances as notified on 12 August 2014 by FINMA regarding:
- The Ordinance of 22 June 2005 re. Sanctions against the Democratic Republic of the Congo and
- The Ordinance of 25 October 2006 re. Sanctions against the Democratic Republic of Korea (North Korea)
Amendment to the Appendix to the Ordinance of 22 June 2005 Sanctions against the Democratic Republic of the Congo (SR 946.231.12)
International Sanctions
The Federal Department of Economic Affairs, Education and Research EAER amended the Appendix to the Ordinance on Sanctions against the Democratic Republic of Congo on 11 August 2014. One organisation was added and information about an existing person was updated. The amendment came into force at 18:00 hours on 12 August 2014.
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 the Democratic Republic of Congo and to freeze the associated assets. Reporting to SECO does not release a financial intermediary from its obligation to immediately report to the Reporting Centre for Money Laundering in accordance with Article 9 of the Money Laundering Act.
Amendment to the Appendix 3 to the Ordinance of 25 October 2006 Sanctions against the Democratic Republic of Korea (North Korea) (SR 946.231.127.6)
International Sanctions
The Federal Department of Economic Affairs, Education and Research EAER amended Appendix 3 to the Ordinance on Sanctions against the Democratic Republic of Korea (North Korea) on 11 August 2014. One organisation was added and information about an existing person was updated. The amendment came into force at 18:00 hours on 12 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 SECO in accordance with the provisions of the Ordinance on Sanctions against the Democratic Republic of Korea (North Korea) and to freeze the associated assets.
We hope that this newsletter is of service to you.
Kind regards,
VQF
Verein zur Qualitätssicherung von Finanzdienstleistungen
Baarerstrasse 112, PO Box
CH - 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.