Back Custom print Link Text Only Rich Text Print

  • FC-7.2 FC-7.2 Terrorist Financing

    • FC-7.2.1AA

      Investment firm licensees must implement and comply with United Nations Security Council resolutions relating to the prevention and suppression of terrorism and terrorist financing. Investment firm licensees must freeze, without delay, the funds or other assets of, and to ensure that no funds or other assets are made available, directly or indirectly, to or for the benefit of, any person or entity either (i) designated by, or under the authority of, the United Nations Security Council under Chapter VII of the Charter of the United Nations, including in accordance with resolution 1267(1999) and its successor resolutions as well as Resolution 2178(2014) or (ii) designated as pursuant to Resolution 1373(2001).

      Amended: October 2019
      Added: April 2017

    • FC-7.2.1

      Investment firm licensees must comply in full with the provisions of the UN Security Council Anti-terrorism Resolution No. 1373 of 2001 ('UNSCR 1373').

    • FC-7.2.2

      [This Paragraph was deleted in January 2018].

      Deleted: January 2018
      Amended: January 2007

    • FC-7.2.3

      A copy of UNSCR 1373 is included in Part B of Volume 1 (Conventional Banks), under 'Supplementary Information' on the BMA Website.

    • FC-7.2.4

      Investment firm licensees must report to the CBB details of:

      (a) Funds or other financial assets or economic resources held with them which may be the subject of Article 1, paragraphs c) and d) of UNSCR 1373;
      (b) All claims, whether actual or contingent, which the licensee has on persons and entities which may be the subject of Article 1, paragraphs c) and d) of UNSCR 1373; and
      (c) All assets frozen or actions taken in compliance with the prohibition requirements of the relevant UNSCRs, including attempted transactions.
      Amended: January 2023
      Amended: January 2007

    • FC-7.2.5

      For the purposes of Paragraph FC-7.2.4, 'funds or other financial resources' includes (but is not limited to) shares in any undertaking owned or controlled by the persons and entities referred to in Article 1, paragraph c) and d) of UNSCR 1373, and any associated dividends received by the licensee.

    • FC-7.2.6

      All reports or notifications under this Section must be made to the CBB's Compliance Directorate.

      Amended: January 2007

    • FC-7.2.7

      See Section FC-4.3 for the Compliance Directorate’s contact details.

      Amended: January 2007