CNA Financial Corporation

In April 2014, CNA was subpoenaed by the New York Department of Financial Services (“NYDFS”) “as part of a probe of potential sanctions violations involving Iran … demanding information related to their dealings with Swiss-based commodities giant Glencore Xstrata and its Iranian metals trade.” (Reuters, “New York regulator subpoenas four insurers in Iran sanctions probe-source,” 4/9/2014). In response, a CNA spokesman emailed, “[w]e have been cooperating with the department’s investigation…. CNA has a very robust compliance program and we are confident that we followed the law.” (Bloomberg, “N.Y. Said to Subpoena Four U.S. Insurers in Iran Probe,” 4/8/2014). (http://af.reuters.com/article/idAFL2N0N026E20140409) (https://www.bloomberg.com/news/articles/2014-04-08/n-y-said-to-subpoena-four-u-s-insurers-in-iran-probe)