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U.S. OFAC announces $1.1 million settlement with online brokerage firm for violations of sanctions programs

Conduct was non-egregious and voluntarily self-disclosed

March 17, 2026

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $1,110,661 settlement with a parent company of online securities and futures brokerage firms and trading technology companies.

According to the OFAC release, the company agreed to settle its potential civil liability for 481 apparent violations of OFAC sanctions programs arising from the company’s provision of brokerage and investments services to persons in Iran, Syria, and Crimea, between June 2021 and June 2022.

The settlement amount reflects OFAC's determination that the company’s conduct was non-egregious and was voluntarily self-disclosed. 

For more information, contact a professional with KPMG Trade & Customs services:

Andrew Siciliano
Partner, U.S. & Global Practice Leader

E: asiciliano@kpmg.com

Doug Zuvich
Partner

E: dzuvich@kpmg.com

Irina Vaysfeld
Principal

E: ivaysfeld@kpmg.com

John L. McLoughlin
Principal

E: jlmcloughlin@kpmg.com

Luis (Lou) Abad
Principal

E: labad@kpmg.com

George Zaharatos
Principal

E: gzaharatos@kpmg.com

Christopher Young
Principal

E: christopheryoung@kpmg.com

Amie Ahanchian
Principal

E: aahanchian@kpmg.com

Gisele Belotto
Principal

E: gbelotto@kpmg.com

Steve Brotherton
Principal

E: sbrotherton@kpmg.com

Jessica Libby
Principal

E: jlibby@kpmg.com

Dawn Olesky
Principal

E: dolesky@kpmg.com

Frances Xing
Principal

E: francesxing@kpmg.com

 

 

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