On 6 April 2018, OFAC enforced sanctions against six Russian Oligarchs and their related entities as part of the amendments to the Executive Orders 13661 and 13662. Our Sanctioned Securities Monitoring Service has been enhanced to include easy access to the securities linked to the 5’800 entities that are now high risk. Furthermore, our service now includes the securities linked to the remaining oligarchs on the CAATSA Section 241 list published by the US Treasury Department. This gives you an up-to-date view on your risk exposure and the ability to react quickly if and when these individuals are sanctioned.
Your firm’s ‘do not trade, hold or service’ list is valid and current, thanks to the all-encompassing SIX service
Automatically identify controlling ownership, circular ownership and sanctioning regime
Flexible data delivery that integrates easily into any security master database and trading systems.
Ease the burden for your advisory and compliance team with narrative content about each sanctioned security
We know how challenging it is to stay abreast of fast-moving sanctions regimes, and our service is designed to help you stay one step ahead.
That means not only do we comprehensively cover sanctioned persons, related entities and their issued securities, but we also cover certain ‘high-risk’ elements. For example, when the US Treasury Department recently identified 96 Russian oligarchs as high-risk individuals, the service was quickly enhanced to include easy access to the securities linked to the entities with ownership structured tied to those individuals. We stay abreast of any corporate structure changes such as capital increase events that may change the structure of a given instrument.
By having the full-breath of data on sanctioned and ‘watched’ individuals, you can have an up-to-date view on your risk exposure and the ability to react quickly if and when these individuals are fully sanctioned. In the recent case, sanctions on six individuals followed relatively quickly after the publication of the initial list, reinforcing the value of having the data readily available ahead of time.
Identifying securities linked to individuals, companies and beneficial owners so they can be added to your ‘do-not-trade, hold or service’ list every day is tedious and complex but of critical importance to avoid potentially staggering fines.
With the introduction of sectorial sanctions and the “50 percent rule” imposed by EU Member States and the U.S., navigating the maze of sanctioned securities is increasingly blurred. Effective sanctions compliance depends entirely on accurate identification of tainted entities and their issued securities.
We help compliance professionals meet the challenge of observing the many global economic sanctions not only by simplifying the process of identifying securities but by keeping you up-to-date as the political and regulatory situation evolve.
The service provides a scrubbed daily list of securities related to an affected issuer or controlling person, identifying the regime(s) under which each is sanctioned, drawing from various international regimes, such as the EU, HK, UN, UK and US. As part of the service, we add a descriptive statement to each black-listed/flagged security detailing how it is linked to a sanctioned person or company. This alleviates the need for additional research by client advisors and gives you a clear at-a-glance overview.
By providing a comprehensive view of persons, related entities and their issued securities for pre- and post-trade screening, the SIX service allows clients to remain confident to transact and service in a regulatory environment that changes rapidly. Firms benefit by saving time and money on complex data sourcing, scrubbing and mapping, all the while minimizing the significant risk of reputational damage and large fines. This specialist single-source service allows our customers to reduce costly and resource-intensive data processing by subscribing to a straightforward list of affected securities and issuers.
Check out the full infographic to see how we can help you.
To ensure the integrity of your data is preserved, the Free Sanctions Test Application does not store or communicate any information back to SIX. Securities uploaded into the application will remain within your bank under your full oversight.
Know the controlling ownership of securities - even when complex structures or cross-border holdings aren't fully transparent
Narrative statement on explicit and implicit sanctioned securities, so you can take immediate action
Eliminate complex data sourcing, scrubbing, mapping and cross-referencing
Full load or delta files to support efficient security master updates
Extensive coverage of global and sectorial sanctions lists
SIX proprietary risk factor of potentially sanctioned securities