The U.S. Department of the Treasury’s Office of Foreign Assets Control on May 28 issued a “Finding of Violation” to State Street Bank and Trust for violations of the Iranian Transactions and Sanctions Regulations. There is no monetary penalty associated with a Finding of Violation.

Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...