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New York Department of Financial Services looks at non-US reinsurers’ compliance with Iran sanctions law

  • Steptoe & Johnson LLP
  • -
  • Iran, USA
  • -
  • July 2 2013

For a state regulator, the New York Department of Financial Services ("DFS" or the "Department") has demonstrated an unusual interest in enforcing

The Iran Threat Reduction Act insurers and reinsurers beware

  • Eversheds LLP
  • -
  • Iran, Syria, USA
  • -
  • September 27 2012

The Iran Threat Reduction and Syria Human Rights Act, the latest in an ever expanding arsenal of US-based long-arm jurisdiction statutory instruments, was passed into law on 10 August 2012, following extensive negotiation in the US legislature

California Department of Insurance settles suit over Iran investments

  • Barger & Wolen LLP
  • -
  • Iran, USA
  • -
  • February 6 2012

On January 27, the California Department of Insurance (“DOI”) issued a news release that it had reached a settlement in its lawsuit that sought to require insurers to disclose investments in companies doing business with Iran

Federal legislative update Iran sanctions

  • Jorden Burt LLP
  • -
  • Iran, USA
  • -
  • December 22 2009

A recent bill passed by the U.S. House of Representatives that expands U.S. economic sanctions targeted at Iran’s refined petroleum resources could have significant implications for the insurance and reinsurance industry

New York initiates investigations into possible violations of the latest U.S. sanctions against Iran

  • Edwards Wildman Palmer LLP
  • -
  • Iran, USA
  • -
  • July 12 2013

The New York Department of Financial Services ("DFS") has recently begun a string of new investigations into possible violations by non-U.S

New Iran sanctions target petroleum and financial services industries

  • Arent Fox LLP
  • -
  • Iran, USA
  • -
  • July 1 2010

Both the petroleum industry and financial services industry need to closely examine their international operations in light of new Iranian sanctions that will be signed into law today by President Barack Obama

Iran-related investment bill clears committee

  • Barger & Wolen LLP
  • -
  • Iran, USA
  • -
  • May 2 2012

On May 2, 2012, the California Assembly Insurance Committee approved a bill that would direct the insurance commissioner to treat a domestic insurer’s investment in a company that has business operations in Iran as a non-admitted asset

New regulations target non-U.S. financial institutions with ties to Iran

  • Sidley Austin LLP
  • -
  • Iran, USA
  • -
  • August 20 2010

On August 16, 2010, the U.S.Treasury Department’s Office of Foreign Assets Control (OFAC) issued the Iranian Financial Sanctions Regulations (IFSR) to implement the Comprehensive Iran Sanctions Accountability, and Divestment Act (CISADA), enacted on July 1, 2010

Irannotices begin to roll into the SEC

  • Stinson Leonard Street LLP
  • -
  • Iran, USA
  • -
  • February 12 2013

A number of companies have filed IRANNOTICEs on EDGAR with the SEC (thanks to Broc Romanek for pointing this out). The notices reference disclosures

Iran economic sanctions update

  • Edwards Wildman Palmer LLP
  • -
  • Iran, USA
  • -
  • January 31 2014

The United States has maintained economic sanctions against Iran consistently since 1979, with only a brief relaxation of the restrictions in the