BIBA launches FSA compliant sanctions check facility

The new facility, Sanctions Search, will enable members to screen their client list against HM Treasury's UK Consolidated Financial Sanctions List on a regular basis, including an option to extend checks to the Office of Foreign Assets Control (International List). The facility is being funded in part by BIBA as a member benefit and rates have been negotiated on behalf of members. All members will be pre-registered including a number of ‘free' search credits. Steve White, BIBA Head of Compliance and Training, said: "Brokers are subject to the UK's terrorism legislation, which prohibit...