To disrupt the flow of funds to Illicit Networks around the world, and this is one of those things thats going to stay in place. And all of those entities, iranian or otherwise, that were designated for their support of any terrorist organization are going to stay sanctioned. That includes banks designated for those reasons, one an iranian bank that was related to hezbollah financing. Theyre going to stay sanctioned. Now, the real powerful aspect of this is part of these sanctions that were imposed under the comprehensive iran sanctions accountability and divestment act, the bill passed by congress in 2010, that bill said if you are a foreign bank and you do business one of these people on our list, if you help them transit money to, from iran to lebanon or any other place or even from iran to london for completely peaceful activity, doesnt matter, it can get cut off the from the United States financial system. That is stay anything place, and that is well understood by the iranians. S
We are engaging in the two both Justice Department but also fbi and others to engage in talks constructively for these companies. The Business Models keep changing. This late expertise on have a technically work resides in the private hands. In some of these models one may be we are a business and we are building a platform for people to talk and share ideas into business. Their Business Model is not we want to have that model used by terrorists to get people inside the tiny. Thats not the point of the Business Model. When we talk to these companies now theres an awareness that same platform they used for good is been used to target the people on the platform. Its Good Business to make sure your platform a safe, i would hope come in addition to being good patriotic duty. We are seeing that shared commonality of interest. What you are seeing is increased investment in resources, both Human Resources in order to identify the terrorists on your site or targeting children are those who are
To the Atlantic Council. The Atlantic Council has been our partner in helping to org somewheres this event. Helping to do a lot of the important work with not only other regulators but also some of our foreign partners and friends at embassies across the city. I also wanted to just give a word or two on the institute of International Economic loss. I see a good number of students here. The institute of International Economic law was focused on john jackson. The focus was on international trade. But over the last decade or so, the institute has grown to cover a number of other issues as well, including economic sanctions, financial regulations, monetary affairs. And international tax. And we have here one of the largest faculties focusing on these issues. And we like to do things in an interdisciplinary that takes an interesting take on International Economic and global affairs. That is to integrate an interdiscipliny analysis into real World Affairs talking to many of our leaders here
The word imbusineeciles, referro members of congress. But no testimony. The leader of turing chemicals refused to testify today. The man known as pharmas bad boy for raising the price of an older drug by 500 cited his fifth amendment right against selfrecrimination. But as meg reports from capitol hill he was anything but silent. Reporter representatives from valiant pharmaceuticals, fda, and the pharmacy benefits manager industry group, were all invited to testify today at a congressional hearing on drug pricing. But the star witness was the infamous martin shkreli. His former company, turing pharmaceuticals, gained notoriety for hiking the price of a 62yearold drug by more than 5,000 . Shkreli is separately facing federal charges of securities fraud. He managed to steal the show while not answering any questions. I intend to follow the advice of my counsel, not yours are i invoke my fifth amendment privilege against selfincrimination and decline to answer your question. On advice of
The word imbusineeciles, referro members of congress. But no testimony. The leader of turing chemicals refused to testify today. The man known as pharmas bad boy for raising the price of an older drug by 500 cited his fifth amendment right against selfrecrimination. But as meg reports from capitol hill he was anything but silent. Reporter representatives from valiant pharmaceuticals, fda, and the pharmacy benefits manager industry group, were all invited to testify today at a congressional hearing on drug pricing. But the star witness was the infamous martin shkreli. His former company, turing pharmaceuticals, gained notoriety for hiking the price of a 62yearold drug by more than 5,000 . Shkreli is separately facing federal charges of securities fraud. He managed to steal the show while not answering any questions. I intend to follow the advice of my counsel, not yours are i invoke my fifth amendment privilege against selfincrimination and decline to answer your question. On advice of