This is an alert of a recent action by the European Union which affects a DFSA-Authorised Firm. On 27 July 2010, the European Union published “Council Implementing Regulation (EU) No 668/2010 of 26 July 2010 amending Annex V of Regulation (EC) No 423/2007 concerning restrictive measures against Iran”. As part of this regulation, the assets of a number of persons, entities and bodies were frozen, including Persia International Bank plc (PIB). The asset freeze applies to PIB’s Dubai Branch, a DFSA-Authorised Firm. In accordance with this, the United Kingdom Treasury issued a Financial Sanctions Notification setting out details of the asset freeze. For additional information, please see the following, available on the below website:EU Regulation 668/2010, implementing EU Regulation No. 423/2007EU Regulation No. 423/2007, implementing UNSCR Resolution 1737 (2006)United Nations Security Council Resolutions 1737 (2006) and 1929 (2010)The Iran (European Community Financial Sanctions) Regulations 2007If, after reading the above matters, you require further assistance in relation to the asset freeze of PIB or other UK entities, please contact the HMT's Asset Freezing Unit.  Any queries on asset freezing or other financial sanctions should be addressed to:Asset Freezing Unit, HM Treasury, 1 Horse Guards Road, London, SW1A 2HQWeb:  http://www.hm-treasury.gov.uk/fin_sanctions_index.htmE-mail:  [email protected]Fax:  +44 (0) 20 7451 7677Telephone: +44 (0) 20 7270 5454All media enquiries should be directed to the HM Treasury Press Office on +44 (0) 20 7270 5238.