News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Trading

Nasdaq settles alleged Iran sanctions violation for $4m

The settlement stems from Nasdaq’s onetime ownership of the Armenian Stock Exchange

A former Armenian subsidiary of Nasdaq allegedly processed trades and payments involving a sanctioned Iranian bank, the Treasury Department’s Office of Foreign Assets Control said
A former Armenian subsidiary of Nasdaq allegedly processed trades and payments involving a sanctioned Iranian bank, the Treasury Department’s Office of Foreign Assets Control said Photo: Stephanie Keith/Getty Images

Stock exchange operator Nasdaq has agreed to pay $4m in a settlement with the US Treasury Department over alleged Iran sanctions violations.

A former Armenian subsidiary of Nasdaq allegedly processed trades and settled payments involving a sanctioned Iran-owned bank, the Treasury Department’s Office of Foreign Assets Control said. The transactions occurred on platforms the subsidiary provided to facilitate overnight loans and foreign exchange trading among Armenia’s banks.

WSJ Logo