The Securities and Commodities Authority (SCA) issued an order to freeze the funds and assets of nine Iranian individuals and entities on UAE’s terror list. The Authority issued a circular to all companies working in regulated securities and commodities about the required procedures to implement the Cabinet’s resolution, which relates to the list of terrorist organizations and individuals, reported the Emirati News Agency (WAM). SCA requires companies working in securities and commodities to identify and freeze any funds, securities, commodities belonging to the nine Iranian individuals and entities on the list. The procedures also require the companies to freeze funds linked to the listed individuals and entities, or persons related to them. The SCA does not require the companies to freeze any accounts, whether funds, securities or commodities, if the names and related details are not completely identical to those on the list, and in case of doubt, they should contact the SCAs Anti-Money Laundering and Counter-Terrorism Financing Procedures unit. SCA urged related parties and investors in UAE-based financial markets to report any suspicious transactions as part of its ongoing cooperation and coordination efforts with government bodies and departments. In May, following the US decision, the UAE placed the nine Iranians on its list of terrorists and terrorist organizations for suspected connections with Iran’s Revolutionary Guards Corps (IRGC).