Document Properties
- Type of Publication: Notice
- Date: October 6, 2017
This notice is directed to the attention of all banks, authorized foreign banks, trust and loan companies, cooperative credit societies, life insurance companies, property and casualty insurance companies and fraternal benefit societies.
On October 4, 2017, the United Nations Security Council (UNSC) announced that the ISIL (Da’esh) & Al-Qaida Sanctions Committee approved amendments to the identifying information related to one individual on its Consolidated List of individuals and entities (the List).
Details of the amendments to the List are contained in the UNSC press release that can be viewed using the following link:
https://www.un.org/press/en/2017/sc13014.doc.htm
The tables posted on the OSFI Web site have been updated to incorporate the amendments, which have been bolded for ease of reference.
The UNAQTR require every federally regulated financial institution to review its records on a continuing basis for the names of individuals or entities covered by the UNAQTR (Designated Persons) and:
- Report immediately to the RCMP and CSIS (contact details below) any property of a Designated Person in its possession or control that has been frozen; and
- Report monthly to the relevant regulator, which, in the case of federally regulated financial institutions, is the Office of the Superintendent of Financial Institutions (OSFI) on the aggregated value of frozen property in its possession.
Any findings based on the changes noted above must be included in reports to regulators due by November 15, 2017.
RCMP/CSIS contact information:
RCMP
Anti-Terrorist Financing Team
Unclassified fax: (613) 825-7030
CSIS
Financing Unit
Unclassified fax: (613) 369-2303
In addition, institutions reporting frozen property or assets to the RCMP and CSIS that are also reporting entities under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act are reminded that they are required to submit Terrorist Property Reports to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). For instructions related to the preparation and submission of Terrorist Property reports, please refer to the FINTRAC Web site at:
http://www.fintrac.gc.ca/publications/guide/Guide5/5-eng.asp
For assistance in complying with reporting requirements or to receive hard copies of notices, lists or OSFI reporting forms, please contact OSFI by e-mail: information@osfi-bsif.gc.ca.
This reminder is also being sent to the following for their information:
- Provincial Regulators and Supervisors
- Canadian Association of Direct Response Insurers
- Canadian Bankers Association
- Canadian Fraternal Association
- Canadian Life and Health Insurance Association
- Canadian Securities Administrators
- Credit Union Central of Canada
- Insurance Bureau of Canada
- Investment Industry Regulatory Organization of Canada
- Trust Companies Association of Canada