The Swiss passed a new regulation, which bans the opening of new business:
Article 1 Prohibition on the OPENING of new business relationships
FInancial Intermediaries are forbidden to open up new relationships:
a. For the natural individuals, companies and organizations in accordance with the Annex;
b. For natural persons, companies and organizations acting on behalf or at the direction of the earthy people, businesses and organizations by letter a;
c. For companies and organizations that are owned by or under control the earthy people, businesses and organizations by letter a or b.
and requires the reporting of financial intermediaries:
Article 3 Reporting requirements
1 Finanzintermediäre (financial intermediaries?) must immediately report to SECO the business relationships with natural people, businesses or organizations under Article 1 lit. a-c
2 The messages must include the names of the Begünstigten (sanctioned parties?) and the subject and value of the business relationships.
and also posted a sanctioned parties list (25 entries), which I'll be adding to the Watchlists page.
Links:
April 2, 2014 SECO Ukraine Regulation
Ukraine sanctions list – PDF
Posted with BlogsyFiled under: Sanctions Lists, Sanctions Regulations, SECO Updates, Ukraine sanctions
