By Kyle Brasseur2024-02-14T15:53:00
Zoetis, a developer and manufacturer of vaccines and medicines for animals, disclosed it was informed by the Treasury Department’s Office of Foreign Assets Control (OFAC) that it won’t face enforcement for potential violations of Iran sanctions uncovered during an acquisition integration.
Zoetis said in its latest annual report Tuesday that it received a no-action letter from OFAC in July regarding the self-disclosed matter. Such letters are sent when OFAC finds there is not sufficient evidence to determine a violation of sanctions.
In February 2020, Zoetis said it voluntarily informed OFAC of its preliminary findings. As its internal investigation continued, it updated the agency in December 2020, along with alerting the Department of Justice (DOJ). The company said it still has not heard back from the DOJ.
2024-03-14T21:46:00Z By Aaron Nicodemus
Swiss-based global private banking group EFG International agreed to pay more than $3.7 million as part of a settlement with the Office of Foreign Assets Control addressing apparent violations of U.S. sanctions against Cuba and two blocked individuals.
2023-12-22T15:10:00Z By Kyle Brasseur
Insurance organization Privilege Underwriters Reciprocal Exchange agreed to pay $466,200 as part of a settlement with the Office of Foreign Assets Control addressing alleged sanctioned transactions on behalf of designated Ukrainian-Russian oligarch Viktor Vekselberg.
2023-12-11T16:43:00Z By Kyle Brasseur
Nasdaq agreed to pay more than $4 million as part of a settlement with the Office of Foreign Assets Control addressing apparent Iran sanctions violations at the stock exchange operator’s former Armenian subsidiary.
2025-07-18T16:33:00Z By Aaron Nicodemus
A brokerage and investment firm will pay $11.8 million for providing services to individuals under U.S. sanctions, as well as people located in countries sanctioned by the U.S.
2025-07-09T14:31:00Z By Aaron Nicodemus
A Connecticut-based audio electronics company will pay a $1.4 million fine for violating U.S. sanctions, after middle managers at a foreign distributor knowingly diverted the company’s products to Iran.
2025-07-02T20:31:00Z By Aaron Nicodemus
A Delaware logistics company paid a $608,825 fine for violating U.S. sanctions on Cuba, a breach that the company self-disclosed to the U.S. Treasury’s Office of Foreign Assets Control (OFAC).
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