Notice of Revision of Consolidated List of Individuals on whom a Travel Ban and assets freeze have been imposed (2007)

Summary

This is a 2007 notice from the BVI Financial Services Commission alerting regulated entities to a revision of the Consolidated List of individuals subject to a travel ban and assets freeze, imposed under EU restrictive measures against Iran and UN Security Council Resolutions 1737 (2006) and 1747 (2007). It lists named individuals connected to Iran's nuclear and ballistic missile programmes and related bodies (such as AEOI, AIO, and Iranian Revolutionary Guard Corps).

• Legal basis: EU Common Position 2007/246/CFSP amending 2007/140/CFSP, and UNSCR 1737 (2006) and UNSCR 1747 (2007), concerning restrictive measures against Iran
• Content: An updated Consolidated List (Annex 1B UN List and Annex 2A EU List) naming dozens of individuals subject to a travel ban and assets freeze, with details such as position, listing date and last update
• Purpose: To inform regulated entities and the public of additions and updates to the sanctions list so that affected individuals' assets can be identified and frozen and travel restrictions observed

The notice itself is informational, directing regulated entities to consult the full Consolidated List and underlying EU/UN instruments for compliance with existing BVI sanctions and AML/CFT obligations, rather than creating new standalone requirements in the notice text itself.

Key obligations

• Regulated entities should screen customers and transactions against the named individuals on the revised Consolidated List and apply the required travel ban and assets freeze measures under applicable sanctions law

Applies to

banks, trust and corporate services providers, money services businesses, insurance entities, investment business entities, other BVI regulated financial services entities