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EU sanctions against Iran - extended for insurers, reinsurers and brokers
  • Herbert Smith Freehills LLP
  • European Union, Iran
  • April 2 2012

The EU's on-going concern about Iran's nuclear program has led to the implementation of further measures designed to bring economic pressure to bear upon the Iranian regime

New OFAC sanctions in the insurance industry
  • Locke Lord LLP
  • Iran
  • April 27 2011

On April 26, 2011 the Office of Foreign Assets Control ("OFAC") reported that another insurance company has been sanctioned for violating the Iranian Transactions Regulations

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

This is a two part sanctions update

US, EU announce JCPOA Adoption Day actions
  • Steptoe & Johnson LLP
  • China, European Union, France, Germany, Iran, Russia, United Kingdom, USA
  • October 18 2015

Today is “Adoption Day” under the Joint Comprehensive Plan of Action (“JCPOA”) agreed to between Iran and the “P51 countries (US, UK, France, China

Insurance: Iran sanctions
  • CMS Cameron McKenna
  • European Union, Iran
  • October 23 2012

Last week saw the Council of the EU strengthen its position on Iran in the wake of similar US measures over the summer

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

U.S. expands secondary sanctions on non-U.S. parties doing business with Iran: what insurers and reinsurers need to know
  • Sidley Austin LLP
  • Iran, USA
  • July 22 2013

Effective July 1, 2013, the United States imposed further secondary sanctions on non-U.S. parties who engage in trade or other transactions with Iran

Commissioner Poizner files suit against Office of Administrative Law
  • Hinshaw & Culbertson 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."

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

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