Financial Sanctions Notice Updated Sanctions Licences and Exceptions Guidance 26 July 2022

Published by	External Relations
Type	Sanctions
Date published	26 July 2022

On Monday 25 July 2022, the Minister for External Relations and Financial Services made the Sanctions and Asset-freezing (Implementation of External Sanctions) (Exceptions and licences – amendment) (Jersey) Order 2022 (the “Amendment Order”), which came into force today.

The Amendment Order amends the Sanctions and Asset-Freezing (Implementation of External Sanctions) (Jersey) Order 2021 (“Sanctions Order") in respect of how licencing and exceptions provisions contained in the UK Sanctions Regulations implemented under the Sanctions Order apply in Jersey.

Licensing provisions relating to asset-freezing prohibitions contained in UK Sanctions Regulations implemented under the Sanctions Order now have effect in Jersey as a ground for granting a licence in relation to the corresponding asset-freezing prohibition in the Sanctions and Asset-Freezing (Jersey) Law 2019 (“SAFL”).

UK exceptions provisions relating to asset-freezing prohibitions contained in UK Sanctions Regulations implemented under the Sanctions Order now have effect in Jersey as an exception to the corresponding asset-freezing prohibition in SAFL. Licencing and exceptions provisions in UK Sanctions Regulations for non-asset-freezing prohibitions (e.g. restrictions on investments) already have effect in Jersey. The changes made by the Amendment Order mean that equivalent provisions for asset-freezing prohibitions now have effect in Jersey.

The Sanctions licences and exceptions guidance on gov.je has been updated to reflect these changes.

Additional guidance on sanctions can be found on both the Government of Jersey and Jersey Financial Services Commission websites. If you have any questions about this notice or new guidance, please contact sanctions@gov.je.