On October 12, 2017, Global Affairs Canada published a Consolidated Special Economic Measures Act Sanctions List. Before today, Canadian companies had to review each regulation promulgated under the Special Economic Measures Act when conducting due diligence relating to Canada's unilateral (or multilateral) economic sanctions. However, and this is important, the Global Affairs Consolidated Special Economic Measures Act Sanctions List does not include sanctions under the United Nations Act, which is Canada's legislation which implements economic sanctions imposed by the United Nations Security Council, As result, it is still necessary to review each regulation promulgated under the United Nations Act when screening for listed or designated persons.
The Consolidated SEMA Sanctions List was last updated on October 7th. The Venezuela SEMA sanctions are included. However, if the Consolidated SEMA Sanctions List is not updated when new SEMA sanctions are imposed, the list will not be useful for very long. Any business using this list should make sure that the Consolidated SEMA Sanctions List has been updated. If the Consolidated SEMA Sanctions List, you will have to go back to reviewing the various regulations separately.
The Consolidated SEMA List has been requested by Canada's economic sanctions lawyers for years (but we asked for all economic sanctions lists to be consolidated into a user-friendly list). In April 2017, the House of Commons Standing Committee on Foreign Affairs and International Development (FAAE) issued a report entitled "A Coherent and Effective Approach: Canada's Economic Sanctions Regimes: Sergei Magnitsky and Beyond" in which it recommended the following:
"The Government of Canada should produce and maintain a comprehensive, public and easily accessible list of all individuals and entities targeted by Canadian sanctions containing all information necessary to assist with the proper identification of those listed."
On July 17, 2017, the Minister of Foreign Affairs responded in a letter and indicated that the recommendation would be implemented with respect to the SEMA sanctions. Today's list is what was promised.
The Consolidated SEMA Sanctions List is good for Canadian businesses, especially small and medium sized businesses that sell globally or operate globally. Every new customer/client should be reviewed against the Consolidated SEMA Sanctions List before accepting a purchase order. However, don't forget to review the United Nations Act regulations also and the OFSI list.
This is also a great opportunity to re-check existing customer/client databases against the Consolidated SEMA Sanctions List. See if you have any matches. If you do, you may need to make a voluntary disclosure and review past internal processes.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
