UANI

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"U.S. authorities are investigating UniCredit's (CRDI.MI)  German unit HVB as part of a global crackdown on possible violations of sanctions on Iran that has already cost Standard Chartered (STAN.L ) a hefty settlement. In an emailed statement on Sunday, UniCredit said the New York County District Attorney's Office, the U.S. Department of Justice and the U.S. Treasury Department's Office of Foreign Assets Control were leading the investigation... UniCredit said HVB was conducting a broader review of its historic compliance with U.S. economic sanctions on its own initiative. HVB declined to comment beyond the statement. 'The investigation and review are ongoing, and it would be inappropriate to comment further at this time,' UniCredit said... UniCredit mentioned the U.S. probe in a 463-page prospectus for a capital increase in January and in its following financial earnings statements. The documents however mentioned neither HVB, the German bank UniCredit acquired in 2005, or Iran. These details were first reported by the Financial Times on Sunday. 'It is not possible at this time to predict the outcome of the on-going investigation, including the timing and any potential financial impact it may have upon the operating results of the company in any future financial period,' UniCredit said in its first-half results statement on August 3." (Reuters, "UniCredit unit HVB probed over Iran sanctions," 8/26/2012)