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Financial Institutions Sanction Violations Financial Services Industry

Stankie Law

Important Sanctions Compliance Lessons from OFAC’s $11.8m Settlement with Interactive Brokers

Stankie Law on

On July 15, 2025, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced a settlement agreement with Interactive Brokers LLC (“Interactive Brokers”) violations of multiple U.S. sanctions...more

Pillsbury Winthrop Shaw Pittman LLP

New UK Trade Sanctions Enforcement Body Goes Live October 10, 2024

New UK enforcement body goes live and new powers granted to existing body, regulating those doing business in the UK. UK trade sanctions enforcement risks are set to increase on October 10, 2024, as two government agencies...more

The Volkov Law Group

State Street’s $7.45MM OFAC Penalty Highlights Importance of Sanctions in M&A Due Diligence

The Volkov Law Group on

The U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) has released a $7.45 million penalty against State Street Bank and Trust Company and its non-bank, fintech subsidiary Charles River Systems for...more

Nelson Mullins Riley & Scarborough LLP

[Webinar] FinTech University: FinTech, SEC, and OFAC Investigations - October 3rd, 2:00 pm - 3:00 pm EDT

Join us for the next edition of FinTech University as we focus on FinTech, SEC, and OFAC investigations. This webinar will examine how the U.S. Securities and Exchange Commission (SEC) and Office of Foreign Assets Control...more

K2 Integrity

Shift to Open Account Trade Highlights Evolving Risks in the Maritime Sector

K2 Integrity on

In recent years, importers, exporters, and their financial institutions have shifted away from traditional, document-based trade finance instruments and toward non-documentary, “open account” settlement through clean wire...more

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