It's final: settlement between Bank Mizrahi Tefahot and the American regulators - fine of $ 195 million

Two years after the settlement between Bank Mizrahi Tefahot and the American regulators in the affair of helping its customers evade tax, Mizrahi Tefahot officially closes the affair. Under the settlement reached with U.S. authorities, the bank paid a $ 195 million fine.
The arrangement included a dismissal indictment, which stipulated that in addition to the fine, the bank would assume obligations to comply with strict compliance rules regarding tax evasion and money laundering. Mizrahi Tefahot also undertook to continue cooperating with the US authorities if requested, and the authorities have the right to file an indictment within a period of two years if it finds justification.
Now that two years have passed since the settlement, the Los Angeles court on Monday ordered an order directing the dismissal of the dismissed indictment. This means that the bank has officially ended the affair, in everything related to the side with U.S. regulators.
Remaining still open is a derivative claim filed against the bank in this case. Although the parties reached a settlement, according to which the insurance company from abroad that insured the bank's officers would pay the bank $ 23 million on their behalf. Derived from this price that the insurance pays, at a time when an independent committee of the bank estimated that the chances of the claim being accepted are low. A hearing has not yet been scheduled in court regarding the ombudsman's position on the compromise.