The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $2,718,581 settlement with The General Electric Company (“GE”) of Boston, Massachusetts. GE, on behalf of three GE subsidiaries - Getsco Technical Services Inc., Bentley Nevada, and GE Betz (collectively, the “GE Companies”) - has agreed to settle its potential civil liability for 289 alleged violations of the Cuban Assets Control Regulations, 31 C.F.R. part 515 (CACR). Specifically, between December 2010 and February 2014, the GE Companies appear to have violated § 515.201(b) of the CACR on 289 occasions by accepting payment from The Cobalt Refinery Company (“Cobalt”), an entity identified on the List of Specially Designated Nationals and Blocked Persons since June 1995, for goods and services provided to a Canadian customer of GE. OFAC determined that GE voluntarily disclosed the apparent violations, and that the apparent violations constitute a non-egregious case.