Automatic implementation of UK Sanctions on Russia
24/09/2022
A new amendment was made to the Sanctions and Asset-Freezing (Implementation of External Sanctions) (Jersey) Order 2021 allowing automatic implementation of certain future amendments to the UK’s Russia (Sanctions) (EU Exit) Regulations 2019 on 29 September 2022.
Effects in Jersey
The amended Russia sanctions regime in Jersey means:
If the UK amends their Russia Regulations to add a new prohibition or obligation, a breach of which is a criminal offence in the UK, then the existing Jersey offence of breaching implemented sanctions provisions (carrying imprisonment for up to 7 years and an unlimited fine) will apply automatically to a breach of that new prohibition or obligation in Jersey. There will be no need for a new Jersey Sanctions Order.
If the UK grants a general licence under the UK Russia Regulations in relation to something other than an asset-freeze, then that general licence (and any conditions imposed on it by the UK) will have automatic effect in Jersey.
The Minister retains the power to modify or disapply a particular UK prohibition, obligation or license by amending the Sanctions Order or publicising a notice. Further information can be found on the Jersey Gazette.
Supervised persons
All supervised persons are obligated to monitor relevant UK sanctions legislation, implement sanctions screening and have adequate policies, controls and procedures in place to effectively identify and mitigate risks the business faces, including appropriately identifying and dealing with sanctioned entities.
You should keep your supervisor informed of any potential sanctions breaches and if required, submit an asset-freeze application form and/or the suspected sanctions compliance reporting form.
https://www.jerseyfsc.org/news-and-events/automatic-implementation-of-uk-sanctions-on-russia/
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.