Nasdaq to pay $4 million settlement over
apparent Iran sanctions violations
Send a link to a friend
[December 09, 2023]
(Reuters) - New York-based stock exchange Nasdaq Inc agreed to
pay a $4 million settlement to the U.S. Department of Treasury over
apparent violations of sanctions against Iran by a former Nasdaq unit,
the department's Office of Foreign Assets Control (OFAC) said on Friday. |
The Nasdaq logo is displayed at the Nasdaq Market site in Times Square
in New York City, U.S., December 3, 2021. REUTERS/Jeenah Moon/File Photo |
Nasdaq OMX Armenia provided services to Iran and Iran's
state-owned Bank Mellat, it said.
"The settlement amount reflects OFAC's determination that
Nasdaq's conduct was non-egregious and voluntarily
self-disclosed," OFAC said.
Nasdaq said in an emailed statement that the settlement
acknowledged mitigating factors, including Nasdaq's voluntary
disclosure of the transactions in 2014 and its sale of the
Armenian subsidiary in 2018.
Nasdaq acquired the Armenian Stock Exchange, subsequently
renamed Nasdaq OMX Armenia, when it acquired Swedish financial
company OMX AB in February 2008.
(Reporting by Devika Nair and Juby Babu in Bengaluru; Additional
reporting by Jose Joseph; Editing by Edmund Klamann)
[© 2023 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
|