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FCG 7.3 Further guidance

FCG 7.3.1

1FCTR contains the following additional material on sanctions and assets freezes:

  1. FCTR 8 summarises the findings of the FSA’s thematic review Financial services firms’ approach to UK financial sanctions and includes guidance on:

    1. ◦ Senior management responsibility (FCTR 8.3.1G)

    2. ◦ Risk assessment (FCTR 8.3.2G)

    3. ◦ Policies and procedures (FCTR 8.3.3G)

    4. ◦ Staff training and awareness (FCTR 8.3.4G)

    5. ◦ Screening during client take-on (FCTR 8.3.5G)

    6. ◦ Ongoing screening (FCTR 8.3.6G)

    7. ◦ Treatment of potential target matches (FCTR 8.3.7G)

  2. FCTR 15 summarises the findings of the FCA’s thematic review Banks’ management of financial crime risk in trade finance and includes guidance on:

    1. ◦ Sanctions Procedures (FCTR 15.3.7G)

    2. ◦ Dual-Use Goods (FCTR 15.3.8G)