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Results: 1-10 of 22

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 Iran sanctions cover insurers and reinsurers

  • Jorden Burt LLP
  • -
  • Iran, USA
  • -
  • July 20 2010

HR 2194, the Comprehensive Iran Sanctions, Accountability and Divestment Act of 2010 ("CISADA") (bill text and bill summary) was passed by Congress on June 24, 2010 and signed into law by President Obama on July 1, 2010

California Office of Administrative Law disallows insurance department rule on Iranian investments

  • Barger & Wolen LLP
  • -
  • Iran, USA
  • -
  • October 12 2010

Yesterday afternoon, the California Office of Administrative Law ("OAL") issued a decision finding that a rule adopted by California Department of Insurance ("CDI") to restrict insurers' investment in companies that do business with Iran was an improper "underground" regulation

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

Lloyd's Market drafts exclusion to ensure compliance with Iran sanctions

  • Edwards Wildman Palmer LLP
  • -
  • Iran, USA
  • -
  • August 23 2010

As previously reported in this blog, President Obama signed into law the Comprehensive Iran Sanctions, Accountability and Divestment Act of 2010 (the "Iran Sanctions Act") in July, following the less stringent sanctions passed earlier by the U.N

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

Insurance Commissioner removes four companies from list of companies doing business with Iran

  • Barger & Wolen LLP
  • -
  • Iran, USA
  • -
  • December 14 2010

As we have previously reported in this blog, the CDI issued a broadly-drafted Data Call on July 9, 2009, to all insurers admitted in California seeking information on their investments in or related to Iran as a measure to enforce U.S. governmental sanctions against Iran, including restrictions with respect to doing business with companies that do business in Iran

Commissioner Poizner files suit against Office of Administrative Law

  • Barger & Wolen LLP
  • -
  • Iran, USA
  • -
  • November 9 2010

On November 9, 2010, California Insurance Commissioner Steve Poizner issued a Press Release announcing that he is filing a lawsuit challenging the California Office of Administrative Law's (OAL) October 11, 2010, determination that the Commissioner's efforts to stop insurers from investing in Iran constituted "underground regulations."

Sanctions update

  • Reed Smith LLP
  • -
  • European Union, Iran, Libya, Syria, United Kingdom, USA
  • -
  • May 13 2011

This is a two part sanctions update

Aon Energy settles with OFAC after alleged sanctions violations

  • Edwards Wildman Palmer LLP
  • -
  • Iran, USA
  • -
  • February 15 2011

Aon International Energy, Inc. ("Aon Energy") has entered a $36,000 settlement with the Office of Foreign Assets Control ("OFAC") after allegations that the broker violated the Iranian Transactions Regulations

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