NY Sets Eyes On Lloyd's In Iran Sanctions Probe

Law360, New York (August 29, 2013, 4:54 PM EDT) -- A New York regulator has stepped up scrutiny of Lloyd's of London as part of an ongoing probe into foreign reinsurers' compliance with a new U.S. law imposing sanctions on Iran, a source familiar with the matter told Law360 on Thursday. 

The move comes after Lloyd's — one of dozens of reinsurers being investigated by the New York Department of Financial Services — told the regulator on July 30 that it issued policies to Glencore Xstrata PLC and Trafigura Ltd., two European commodities traders that reportedly...
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