Deutsche Börse AG / Key word(s): Miscellaneous
09.01.2013 16:04
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Deutsche Börse AG subsidiary Clearstream to enter into settlement
discussions with OFAC
The US Treasury Department Office of Foreign Assets Control ('OFAC') has
contacted Clearstream Banking SA ('Clearstream'), a 100 percent subsidiary
of Deutsche Börse AG, regarding OFAC's investigation under US Iran
sanctions regulations of certain securities transfers within the
Clearstream settlement system in 2008. These transfers implemented the
decision taken by Clearstream in 2007 to close its Iranian customers'
accounts. OFAC had been informed of the closing of the accounts in advance.
OFAC has now invited Clearstream to pursue closure of the matter through
substantive discussions and settlement in accordance with OFAC's standard
procedures. Thereupon Clearstream has decided today to enter into such
settlement discussions with OFAC.
OFAC has communicated to Clearstream its preliminary views on the
investigation. OFAC's preliminary views are that (1) apparent violations of
US sanctions may have occurred in 2008 in connection with the
aforementioned securities transfers, and (2) if OFAC were to issue a civil
pre-penalty notice based only on information currently available to it,
such a pre-penalty notice would indicate an amount of approximately US$ 340
million. These views were shared for discussion purposes only and are
subject to potential significant change in favour of Clearstream depending
on the outcome of discussions with OFAC. OFAC has not taken any final
decision either on a finding of any violation or on any amount. Any
settlement with OFAC would not constitute a finding of a violation.
Clearstream continues to believe that its actions were in compliance with
any applicable US sanctions regulations and considers OFAC's preliminary
figure to be unwarranted and excessive. Clearstream appreciates the
opportunity to engage in substantive discussions with OFAC on the facts and
reasons why a penalty should not be imposed or, if a settlement payment is
agreed upon, why it should be in a far lesser amount.
Deutsche Börse AG has indicated to its subsidiary Clearstream that it is
prepared to provide all necessary support in order for Clearstream to meet
its financial and regulatory requirements and to maintain its strong
financial profile should this become necessary under such settlement.
Contact:
Frank Herkenhoff
Tel.: +49-69-21 11 15 00
09.01.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Deutsche Börse AG
-
60485 Frankfurt am Main
Germany
Phone: +49 (0)69 211 - 0
Fax:
E-mail: ir@deutsche-boerse.com
Internet: www.deutsche-boerse.com
ISIN: DE0005810055
WKN: 581005
Indices: DAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart;
Terminbörse EUREX
End of Announcement DGAP News-Service
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DGAP-Adhoc: Deutsche Börse AG: Deutsche Börse AG subsidiary Clearstream to enter into settlement discussions with OFAC
| Source: EQS Group AG