OFAC: Nasdaq to pay $4M over ex-subsidiary’s Iran sanctions lapses
By 
Kyle Brasseur2023-12-11T16:43:00
Nasdaq agreed to pay more than $4 million as part of a settlement with the Treasury Department’s Office of Foreign Assets Control (OFAC) addressing apparent Iran sanctions violations at the stock exchange operator’s former Armenian subsidiary.
Nasdaq OMX Armenia, the former owner and operator of the Armenian Stock Exchange (ASE), was found by OFAC to have committed 151 apparent violations of U.S. sanctions on Iran by allowing the designated Armenian subsidiary of Iran’s state-owned Bank Mellat access to its platform, according to the agency’s enforcement release published Friday.
Nasdaq voluntarily self-disclosed the matter, which OFAC deemed “non-egregious.”
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