18 August 2004

To: Chief Executive of all authorized insurance institutions
      carrying on long term business

Dear Sir/Madam,

I am writing to inform you that the United Nations Security Council Resolution ("UNSCR") 1532 was passed on 12 March 2004 to impose sanctions on certain Liberian individuals and entities. Specifically, it requires all Member States of the United Nations to freeze funds, other financial assets or economic resources owned or controlled by the former Liberian President Charles Taylor, his immediate family members, senior officials of the former Taylor regime and other entities and individuals designated by the United Nations Committee established pursuant to UNSCR 1521. The list of the designated individuals and entities can be found on the United Nations website (www.un.org/Docs/sc/committees/Liberia3/1532_afl.htm).

In Hong Kong, the Government is considering how the measures under the UNSCR 1532 could be implemented. In the meantime, you are advised to review your records and report any accounts, transactions or dealings you have or have had with the named individuals or entities to the Joint Financial Intelligence Unit with a copy to the Insurance Authority. You are also reminded to browse the above website regularly for the latest information. To facilitate the initial assessment of implementation of the UNSCR 1532 in Hong Kong, we should be grateful if you would also let the Insurance Authority have a copy of your reports, if any, by 26 August 2004.

Should you have any enquiries, please contact Mr. William Hsieh at 2867 4529 or Miss Connie Cheng at 2867 4815.

Yours sincerely,

(Ms. Carol M. Y. Hui)
for Commissioner of Insurance

The above materials are presented in PDF format, unless stated otherwise. Please download Adobe Reader for viewing. Install the Asian Font Pack if necessary.