GEN 5.3.30

Past version: effective from 01/09/2008 - 27/04/2011
To view other versions open the versions tab on the right

(1) An Authorised Person must establish and maintain effective systems and controls to:
(a) obtain and make appropriate use of relevant resolutions or sanctions issued by the United Nations Security Council; and
(b) disclose in its annual MLRO report to the DFSA the manner in which it has observed such resolutions or sanctions.
(2) An Authorised Person must immediately notify the DFSA when it becomes aware that it is:
(a) carrying on or about to carry on a Financial Service;
(b) holding or about to hold money or other assets; or
(c) undertaking or about to undertake any other business whether or not arising from or in connection with (a) or (b);
for or on behalf of a Person, where such carrying on, holding or undertaking constitutes or may constitute a contravention of a relevant sanction or resolution issued by the United Nations Security Council.
(3) An Authorised Person must ensure that the notification stipulated in (2) above includes the following information:
(a) a description of the relevant activity in (2) (a), (b) or (c); and
(b) the action proposed to be taken or that has been taken by the Authorised Person with regard to the matters specified in the notification.
[Added] DFSA RM59/2008 (Made 1st September 2008). [VER20/09-08]