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Results: 1-10 of 21

Crédit Agricole settles sanctions allegations: risks to multinational banks remains high
  • Steptoe & Johnson LLP
  • USA
  • November 12 2015

On October 20, 2015, US federal and New York state authorities announced that they had each reached an agreement with France's Crédit Agricole

OFAC enforcement involving NY operations of Brazilian-based financial institution
  • Steptoe & Johnson LLP
  • Brazil, Iran, USA
  • November 6 2015

On November 4, 2015, the Office of Foreign Assets Controls (OFAC) of the US Department of the Treasury announced that Banco do Brasil, S.A., New York

Non-US financial institutions dealing with Russian SDNs could face US sanctions
  • Steptoe & Johnson LLP
  • Russia, Ukraine, USA
  • June 22 2015

On June 16, 2015, section 5(b) of the Ukraine Freedom Support Act of 2014 (UFSA) (P.L. No. 113-272), which authorizes the President to impose

Commerzbank $1.45b settlement: OFAC continues scrutinizing foreign banks
  • Steptoe & Johnson LLP
  • USA
  • March 24 2015

On March 12, 2015, Commerzbank AG, the second-largest bank in Germany, agreed to civil and criminal settlements with US federal and New York state

The US and EU impose further expanded sanctions on Russia; Russia retaliates by sanctioning US officials
  • Steptoe & Johnson LLP
  • European Union, Russia, Ukraine, USA
  • March 21 2014

Following close on the heels of two Executive Orders imposing sanctions on Ukrainian and Russian persons in the last two weeks, US President Obama

OFAC targets deceptive financial transactions through civil enforcement and foreign sanctions evader designations
  • Steptoe & Johnson LLP
  • Iran, USA
  • March 6 2014

On January 22, 2014, the US Department of Treasury, Office of Foreign Assets Control (OFAC) concluded a regulatory enforcement action against

Another major sanctions settlement by a foreign bank: Royal Bank of Scotland pays $100 million to federal and New York State regulators
  • Steptoe & Johnson LLP
  • USA
  • December 19 2013

On December 11, 2013, the Department of the Treasury's Office of Foreign Assets Control (OFAC), the Board of Governors of the Federal Reserve

New York Department of Financial Services settles for $250 million with Asian bank and targets reinsurers for US sanctions law compliance
  • Steptoe & Johnson LLP
  • USA
  • July 10 2013

In recent weeks, the New York State Department of Financial Services (NYDFS) has increased its enforcement and compliance activities related to US

UK and Japanese banks settle US sanctions and money laundering violations
  • Steptoe & Johnson LLP
  • Japan, United Kingdom
  • December 21 2012

On December 10, 2012, UK Banks HSBC and Standard Chartered Bank (SCB) entered into agreements with US enforcement authorities to settle civil and criminal

EU expands sanctions against certain Iranian industries
  • Steptoe & Johnson LLP
  • European Union, Iran
  • October 19 2012

On October 15, 2012, the Council of the European Union adopted Council Decision 2012635CFSP, which strengthens existing EU sanctions against Iran