CMA Circular No. 1/2015 of 2015 · UAE Federal
SCA circular to licensed UAE securities and commodities markets on freezing and unfreezing accounts of individuals designated as having links to terrorist organisations under United Nations resolutions.
Circular No. 1 of 2015, dated 16 December 2015 and issued in English and Arabic by the Securities and Commodities Authority (now the CMA) to the licensed securities and commodities markets in the UAE, tells the markets how to freeze and unfreeze accounts of persons on the UN Security Council lists of individuals and entities associated with al-Qaida and the Taliban, kept by the committees under Resolutions 1267 (1999), 1988 (2011) and 1989 (2011).
It gives six instructions. First, instantly freeze any cash, securities or commodities accounts of individuals, groups and organisations placed on the UN lists, with links to the al-Qaida Sanctions List and the 1988 List. Second, unfreeze accounts of persons delisted by the committees. Third, do not freeze, refuse to receive or use an account unless the names and details match the list entirely and without doubt; in case of doubt, contact the Authority or the Central Bank's Anti-Money Laundering and Suspicious Cases Unit. Fourth, keep an internal list of the listed persons and update it daily. Fifth, report freezing or unfreezing instantly to the Authority and to that Unit. Sixth, an earlier SCA circular (reference 169) dated 9 October 2012 is cancelled. A reporting form for identical and similar names, with account numbers and balances, is attached, and reports go to amltfc@sca.ae.
Status: listed as in force. The freezing regime is now governed by Cabinet Decision No. 74 of 2020, which the CMA's Notice No. 2 of 2021 directs licensees to follow; later CMA notices direct reports to the Financial Intelligence Unit.
The licensed securities and commodities markets (exchanges) in the UAE, in relation to accounts of persons on the UN Security Council al-Qaida and Taliban sanctions lists.
English official text in 3 passages. Open the full text or jump to a provision:
| Paragraph First | Instantly freeze any cash, securities or commodities accounts of individuals, groups and organisations placed on the UN al-Qaida and 1988 sanctions lists. |
| Paragraph Second | Unfreeze the accounts of natural or legal persons delisted under the resolutions of the Security Council committees. |
| Paragraph Third | Do not freeze or block accounts unless names and details match the list entirely and without doubt; in case of doubt contact the Authority or the Central Bank's AML unit. |
| Paragraph Fourth | Prepare an internal list of the persons on the UN lists and update it daily in line with those lists. |
| Paragraph Fifth | Instantly report the freezing or unfreezing of accounts to the Authority and the Central Bank's Anti-Money Laundering and Suspicious Cases Unit. |
| Paragraph Sixth | Cancels an earlier SCA circular dated 9 October 2012 on the same subject. |
| Annex (reporting form) | Form to report frozen or unfrozen accounts, listing identical and similar names with account holder, account number and available balance. |
The circular sets no amounts; it states that non-compliance exposes the addressee to severe penalties and sanctions in the UAE and abroad.
We are not licensed by the CMA. We cite this circular when reviewing a client's legacy compliance files or explaining an old freeze on a market account. Our current screening and freezing procedures follow Cabinet Decision No. 74 of 2020 and the CMA's later notices, but they keep the same discipline: daily list updates, an exact-match test before any freeze, and immediate reporting.
No amendments, repeals or cross-references recorded for this instrument.
“Cites” and “Cited by” are built automatically from references in the full texts held in this library; they cover only instruments in the library.
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