Nasdaq to pay $4m settlement over sanctions violations

Bengaluru — New York-based stock exchange Nasdaq has agreed to pay a $4m settlement to the US department of treasury over apparent violations of sanctions against Iran by a former Nasdaq unit, the department’s office of foreign assets control said.

Nasdaq OMX Armenia provided services to Iran and Iran’s state-owned Bank Mellat, it said.

“The settlement amount reflects office’s determination that Nasdaq’s conduct was non-egregious and voluntarily self-disclosed,” the office of foreign assets control said.

Nasdaq said in a statement that the settlement acknowledged mitigating factors, including Nasdaq’s voluntary disclosure of the transactions in 2014 and its sale of the Armenian subsidiary in 2018.

Nasdaq acquired the Armenian Stock Exchange, subsequently renamed Nasdaq OMX Armenia, when it acquired Swedish financial company OMX AB in February 2008.

Reuters