On October 5, 2018, the US Department of the Treasury, Office of Foreign Assets Control (OFAC) announced an agreement with JPMorgan Chase Bank, N.A. (JPMC) to settle potential civil liability arising from 87 apparent violations of the Cuban Assets Control Regulations, the Iranian Transactions and Sanctions Regulations, and the Weapons of Mass Destruction Proliferators Sanctions Regulations. According to OFAC, “the transactions … Continue Reading
OFAC issued Findings of Violation (FOV) to AXA Equitable Life Insurance Company (AXA) and Humana, Inc., the parent company of Kanawha Insurance Company (Kanawha), AXA’s Third Party Administrator (TPA) for the insurance policies at issue. According to the enforcement information (see here and here) released by OFAC, the FOVs stem from AXA’s issuance of two insurance policies to, and Kanawha’s provision … Continue Reading
