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SETTLEMENT AGREEMENT
This settlement agreement (the “Agreement”) with respect to case COMPL-[ ] is made by and between the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), Charles River Systems, Inc. (d/b/a Charles River Development) (“Charles River”), a subsidiary of State Street Bank and Trust Company (“State Street”), State Street, and their subsidiaries and affiliates worldwide (collectively referred to hereafter as “Respondent”).
I. PARTIES
OFAC administers and enforces economic sanctions against targeted foreign countries, regimes, terrorists, international narcotics traffickers, and proliferators of weapons of mass destruction, among others. OFAC acts under Presidential national emergency authorities, as well as authority granted by specific legislation, to impose controls on transactions and freeze assets under U.S. jurisdiction.
Charles River is a non-bank U.S. financial technology company based in Burlington, Massachusetts that specializes in software products that enable clients to communicate trading information. Charles River...
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1) Refer to comments to Enforcement Release: State Street Bank and Trust Company.