Nasdaq to pay $4 million settlement over obvious Iran sanctions violations By Reuters
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© Reuters. FILE PHOTO: The Nasdaq brand is displayed on the Nasdaq Market web site in Occasions Sq. in New York Metropolis, U.S., December 3, 2021. REUTERS/Jeenah Moon/File Picture
(Reuters) – New York-based inventory trade Nasdaq Inc agreed to pay a $4 million settlement to the U.S. Division of Treasury over obvious violations of sanctions towards Iran by a former Nasdaq unit, the division’s Workplace of Overseas Belongings Management (OFAC) stated on Friday.
Nasdaq OMX Armenia offered companies to Iran and Iran’s state-owned Financial institution Mellat, it stated.
“The settlement quantity displays OFAC’s dedication that Nasdaq’s conduct was non-egregious and voluntarily self-disclosed,” OFAC stated.
Nasdaq stated in an emailed assertion that the settlement acknowledged mitigating elements, together with Nasdaq’s voluntary disclosure of the transactions in 2014 and its sale of the Armenian subsidiary in 2018.
Nasdaq acquired the Armenian Inventory Change, subsequently renamed Nasdaq OMX Armenia, when it acquired Swedish monetary firm OMX AB in February 2008.
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