With respect to the targeted restrictive measures and/or any other additional Restrictive Measures/Sanctions which may be imposed in the future against Russia in response to the crisis in Ukraine, all Regulated Entities are required to take the following actions:
- Implement appropriate actions/measures and/or freeze immediately all funds and/or economic resources that are held, administered or managed on their behalf or on behalf of other persons associated with the business relationship.
- Inform CySEC, by Thursday, 3 March 2022, at the latest, using the email address email@example.com, whether they have such business relationships or not. This notification must include the name of all individuals/businesses that are subject to the restrictions, the type of the assets that have been frozen (e.g. cash, financial instruments) and their total value.
- In the case of further Restrictive Measures/Sanctions which may be imposed against Russia in response to the crisis in Ukraine, all Regulated Entities must inform CySEC within a reasonable timeframe, as defined in point (ii) above.
We remain at your disposal for any clarifications and/or assistance needed.