Agreement reached in the US on settlement of liability for sanctions violations

The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury announced that it has entered into a settlement agreement with Interactive Brokers LLC (IB) for $11,832,136.
 

IB agreed to settle its potential civil liability for apparent violations of several OFAC sanctions programmes arising from IB's provision of brokerage and investment services to persons in Iran, Cuba, Syria, and the Crimean region of Ukraine, and the processing of securities transactions subject to the Chinese military-industrial complex, transaction processing related to persons blocked under OFAC sanctions programmes on russia, the Global Magnitsky Act, and Venezuela.-industrial complex, processing transactions involving persons blocked under OFAC sanctions programmes relating to russia, the Global Magnitsky Act, Venezuela and Syria, and participating in new investments in the russian federation. 

OFAC recognised that IB's actions were not gross and were voluntarily disclosed.

Source: OFAC