New York, United States – Nasdaq Inc., headquartered in New York, has agreed to pay a $4 million settlement to the US Department of Treasury for apparent violations of sanctions against Iran by a former Nasdaq unit, according to the Office of Foreign Assets Control (OFAC).
The violations stemmed from services provided by Nasdaq OMX Armenia to Iran and Iran’s state-owned Bank Mellat. OFAC noted that the settlement amount reflects their assessment that Nasdaq’s actions were non-egregious and were voluntarily self-disclosed, Reuters reported.
Nasdaq, in response, stated via email that the settlement acknowledges mitigating factors. These include Nasdaq’s voluntary disclosure of the transactions in 2014 and its subsequent sale of the Armenian subsidiary in 2018.
The acquisition of the Armenian Stock Exchange, later renamed Nasdaq OMX Armenia, occurred when Nasdaq acquired Swedish financial company OMX AB in February 2008.
