- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-12-11T16:43:00
Nasdaq agreed to pay more than $4 million as part of a settlement with the Treasury Department’s Office of Foreign Assets Control (OFAC) addressing apparent Iran sanctions violations at the stock exchange operator’s former Armenian subsidiary.
Nasdaq OMX Armenia, the former owner and operator of the Armenian Stock Exchange (ASE), was found by OFAC to have committed 151 apparent violations of U.S. sanctions on Iran by allowing the designated Armenian subsidiary of Iran’s state-owned Bank Mellat access to its platform, according to the agency’s enforcement release published Friday.
Nasdaq voluntarily self-disclosed the matter, which OFAC deemed “non-egregious.”
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Tucked deep inside the $95 billion foreign aid bill recently passed by Congress was a provision that will allow the Office of Foreign Assets Control to look back 10 years to investigate potential violations of U.S. sanctions, rather than five years.
The Bureau of Industry and Security adopted a final rule to extend its export restrictions across more entities and individuals designated under certain sanctions programs maintained by the Office of Foreign Assets Control.
Zoetis, a developer and manufacturer of vaccines and medicines for animals, disclosed it was informed by the Office of Foreign Assets Control that it won’t face enforcement for potential violations of Iran sanctions uncovered during an acquisition integration.
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor over $1 trillion worth of customer transactions.
