In Historic Iran Deal, Straits for Compliance Officers to Navigate

By Colby Adams and Kira Zalan

An accord between Iran and six nations expected to result in the broad suspension of sanctions against the Islamic republic will likely bring questions along with opportunities for banks. The long-negotiated Joint Comprehensive Plan of Action signed Tuesday outlines how the United Nations, Europe and, to a lesser degree, the United States would lift restrictions mandated under dozens of sanctions regulations, international resolutions and laws, including limits on Iran's access to bank messaging services and correspondent bank accounts. Contingent on Iran's willingness to verifiably scale back its nuclear program, the bulk of EU and U.S. sanctions against the nation's oil,...