Sanctions

Check and Demonstrate Your Firm's Compliance Against Each Sanctions Requirement:

  • Senior Management Oversight Allocation: Confirm active board-level supervision with clear SMF responsibilities, with guidance explaining why this ensures accountability under FCA SYSC 6.3, prevents breaches via SAMLA, and aligns with poor governance enforcement risks.

  • Lessons Learned Exercise Implementation: Verify reviews following events like Russia's Ukraine invasion, including rationale on why tangible actions enhance preparedness, reduce non-compliance per FCA Financial Crime Guide (Chapter 7, November 2024), and support rapid response to changes.

  • Regular Briefings on Screening Solutions: Document senior leaders' understanding of system operations and testing, highlighting why this mitigates undetected breaches, meets OFSI 2025 expectations, and discharges duties effectively.

  • Policy Review and Approval Documentation: Confirm recorded approvals of sanctions policies and risk assessments annually, explaining why evidence facilitates regulatory scrutiny, demonstrates involvement under SAMLA, and upholds a compliance culture.

  • Resource Allocation Sufficiency: Verify adequate personnel and budget for sanctions functions, underscoring why this avoids backlogs, aligns with FCA thematic reviews, and ensures timely handling per OFSI 2025 enforcement guidance.

Firms leveraging RegTechPRO achieve up to 40% faster sanctions audits, with clear guidance on FCA and OFSI expectations, transforming oversight from reactive to resilient.