Financial Crimes Enforcement Network; Withdrawal of the Notice of Proposed Rulemaking; Anti-Money Laundering Programs for Unregistered Investment Companies, 65569-65571 [E8-26202]
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Federal Register / Vol. 73, No. 214 / Tuesday, November 4, 2008 / Proposed Rules
II. The 2003 Notice of Proposed
Rulemaking and Subsequent
Developments
dwashington3 on PRODPC61 with PROPOSALS
A. The 2003 Notice of Proposed
Rulemaking
Section 352 of the USA PATRIOT Act
amended section 5318(h) of the BSA.
Section 352 requires every financial
institution to establish an anti-money
laundering program that includes, at a
minimum, (1) The development of
internal policies, procedures, and
controls; (2) the designation of a
compliance officer; (3) an ongoing
employee training program; and (4) an
independent audit function to test
programs. Section 352 authorizes the
Secretary, after consulting with the
appropriate Federal functional
regulator,2 to prescribe minimum
standards for anti-money laundering
programs, and to exempt from the
application of those standards any
financial institution that is not subject
to rules implementing the BSA.
Although the BSA does not expressly
enumerate investment advisers among
the entities defined as financial
institutions under sections 5312(a)(2)
and (c)(1), section 5312(a)(2)(Y) of the
BSA authorizes the Secretary to include
additional types of entities within the
definition if he determines that they
engage in an activity ‘‘similar to, related
to, or a substitute for’’ an activity of an
enumerated entity. On May 5, 2003,
FinCEN observed that certain
investment advisers may offer services
to investors that are similar to, related
to, or a substitute for those of brokerdealers in securities and other
enumerated entities.3 FinCEN proposed
requiring these investment advisers to
establish and implement anti-money
laundering programs under section
5318(h)(1) of the BSA.4
2 In the case of investment advisers, the
appropriate Federal functional regulator is the
Securities and Exchange Commission (‘‘SEC’’).
3 Anti-Money Laundering Programs for
Investment Advisers, 68 FR 23646, 23647 (May 5,
2003). FinCEN noted that investment advisers that
manage clients’ assets work closely with other
institutions, for example by directing broker-dealers
to purchase or sell client securities or by directing
banks to transfer client funds, and found that
advisers’ services frequently are a substitute for
products offered by investment companies or
insurance companies, such as when advisers
manage client assets in pooled investment vehicles
or in separate accounts. Some investment advisers
offer asset management services that are similar to,
and that may even compete directly with, asset
management services provided by certain banks
through their trust departments. The
interrelationship between investment advisers and
other institutions (such as securities broker-dealers,
mutual funds, commodity trading advisors, and
commodity pool operators) is demonstrated in part
by dual registration.
4 The proposal would have applied generally to
SEC-registered investment advisers with assets
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14:33 Nov 03, 2008
Jkt 217001
The comment period closed on July 7,
2003. FinCEN received 26 comment
letters in response to the notice of
proposed rulemaking. Of the 26
comment letters received, six were
submitted by investment advisers, nine
were submitted by trade groups, five
were submitted by law firms, one was
submitted by a personal investment
entity, one by a depository institution,
and one by a federal agency.
Comments were received on all
aspects of the notice of proposed
rulemaking. Comments focused most
notably on the proposed definition of
‘‘investment adviser,’’ the proposed
requirement to develop and implement
an anti-money laundering program
reasonably designed to prevent the
investment adviser from being used by
its clients for money laundering or
terrorist financing purposes, the ability
of an investment adviser to outsource
BSA compliance to a third party, and
the proposed notice requirement for
unregistered investment advisers.5
B. Subsequent Developments
In June 2007, FinCEN announced that
it would be taking a fresh look at BSA
regulation to ensure that it is being
applied efficiently and effectively across
the industries that FinCEN regulates and
the industries FinCEN has proposed to
regulate. As part of that initiative,
FinCEN is considering whether and to
what extent it should impose
requirements under the BSA on
investment advisers and similar entities.
As it considers its approach to
investment advisers, FinCEN has
determined that it will withdraw the
notice of proposed rulemaking that was
published in May 2003. Given the
passage of time, FinCEN has determined
that it will not proceed with an antimoney laundering program requirement
for investment advisers without
publishing a new proposal. This will
give industry and other interested
parties an opportunity to provide
comment on the contents of any such
proposal, as it may be affected by any
developments since 2003 in industry
operations as well as functional and
BSA regulation.
Finally, in the time since the notice of
proposed rulemaking was published,
FinCEN has concluded major
rulemakings required by the USA
PATRIOT Act for banks, broker-dealers,
under management and to advisers with $30
million or more of assets under management and
that are exempt from registration under section
203(b)(3) of the Investment Advisers Act (15 U.S.C.
80b–3(b)(3)). Id. at 23648.
5 Comments are available at https://
www.fincen.gov/statutes_regs/frn/
reg_proposal_comments.html.
PO 00000
Frm 00003
Fmt 4702
Sfmt 4702
65569
and futures commission merchants.
Each of these institutions is subject to a
comprehensive set of requirements
under the BSA including, among other
things, the obligation to establish and
implement an anti-money laundering
program,6 the obligation to establish and
implement a customer identification
program,7 the obligation to establish and
implement a special due diligence
program for foreign correspondent
accounts and foreign private banking
accounts,8 the obligation to detect and
report suspicious activity,9 and the
obligation to file currency transaction
reports.10
Investment advisers must conduct
financial transactions for their clients
through other financial institutions that
are subject to BSA requirements, and
their clients’ assets must be carried at
these other financial institutions. Thus,
as FinCEN continues to consider the
extent to which BSA requirements
should be imposed on investment
advisors, their activity is not entirely
outside the current BSA regulatory
regime.
III. Withdrawal of the Notice of
Proposed Rulemaking
For the foregoing reasons, the notice
of proposed rulemaking, in which
FinCEN proposed requiring certain
investment advisers to establish and
implement anti-money laundering
programs, as published in the Federal
Register on May 5, 2003 (68 FR 23646),
is hereby withdrawn.
Dated: October 29, 2008.
James H. Freis, Jr.,
Director, Financial Crimes Enforcement
Network.
[FR Doc. E8–26205 Filed 11–3–08; 8:45 am]
BILLING CODE 4810–02–P
DEPARTMENT OF THE TREASURY
31 CFR Part 103
RIN 1506–AA77
Financial Crimes Enforcement
Network; Withdrawal of the Notice of
Proposed Rulemaking; Anti-Money
Laundering Programs for Unregistered
Investment Companies
Financial Crimes Enforcement
Network, Treasury.
ACTION: Withdrawal of notice of
proposed rulemaking.
AGENCY:
6 31
CFR 103.120.
CFR 103.121–103.123.
8 31 CFR 103.176 and 103.178.
9 31 CFR 103.17–103.19.
10 31 CFR 103.22.
7 31
E:\FR\FM\04NOP1.SGM
04NOP1
65570
Federal Register / Vol. 73, No. 214 / Tuesday, November 4, 2008 / Proposed Rules
SUMMARY: The Financial Crimes
Enforcement Network (‘‘FinCEN’’) is
withdrawing the notice of proposed
rulemaking, dated September 26, 2002,
in which FinCEN proposed requiring
unregistered investment companies—
such as hedge funds, commodity pools,
and similar investment vehicles—to
establish and implement anti-money
laundering programs.
DATES: The withdrawal is effective
November 4, 2008.
FOR FURTHER INFORMATION CONTACT:
Regulatory Policy and Programs
Division, Financial Crimes Enforcement
Network, (800) 949–2732.
SUPPLEMENTARY INFORMATION:
dwashington3 on PRODPC61 with PROPOSALS
I. Background
On October 26, 2001, the President
signed into law the Uniting and
Strengthening America by Providing
Appropriate Tools Required to Intercept
and Obstruct Terrorism Act of 2001 (the
‘‘USA PATRIOT Act’’), Public Law 107–
56. Title III of the USA PATRIOT Act
amended the anti-money laundering
provisions of the BSA, which is codified
at 12 U.S.C. 1829b, 12 U.S.C. 1951–
1959, and 31 U.S.C. 5311–5314, 5316–
5332. The amendments were designed
to promote the prevention, detection,
and prosecution of international money
laundering and terrorist financing.
Regulations implementing the Bank
Secrecy Act appear at 31 CFR Part 103.
The authority of the Secretary of the
Treasury (‘‘the Secretary’’) to administer
the Bank Secrecy Act and its
implementing regulations has been
delegated to the Director of the
Financial Crimes Enforcement
Network.1
Section 352 of the USA PATRIOT Act
amended section 5318(h) of the BSA.
Section 352 requires every financial
institution to establish an anti-money
laundering program that includes, at a
minimum, (1) The development of
internal policies, procedures, and
controls; (2) the designation of a
compliance officer; (3) an ongoing
employee training program; and (4) an
independent audit function to test
programs. Section 352 authorizes the
Secretary, after consulting with the
appropriate Federal functional
regulator,2 to prescribe minimum
standards for anti-money laundering
programs, and to exempt from the
application of those standards any
1 Accordingly, references herein to the Secretary’s
authority apply equally to the Director of FinCEN.
2 Unregistered investment companies—except
commodity pools operated by a commodity pool
operator that is registered or required to be
registered with the Commodity Futures Trading
Commission—are not functionally regulated.
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14:33 Nov 03, 2008
Jkt 217001
financial institution that is not subject
to rules implementing the BSA.
Investment companies are defined as
financial institutions in the BSA.3 On
April 29, 2002, FinCEN published an
interim final rule requiring mutual
funds—a category of investment
company—to establish and implement
anti-money laundering programs.4 On
September 26, 2002, FinCEN issued a
notice of proposed rulemaking,
proposing to require ‘‘unregistered
investment companies’’ to establish and
implement anti-money laundering
programs.5 In November 2002, FinCEN
temporarily exempted certain financial
institutions, including investment
companies that were not mutual funds
as that term is defined in the anti-money
laundering program rule for mutual
funds,6 from the requirement to
establish and implement an anti-money
laundering program.7
II. The 2002 Notice of Proposed
Rulemaking and Subsequent
Developments
A. The 2002 Notice of Proposed
Rulemaking
In its September 2002 notice of
proposed rulemaking, FinCEN proposed
to define the term ‘‘unregistered
investment company’’ as (1) An issuer
that, but for certain exclusions, would
be an investment company as that term
is defined in the Investment Company
Act of 1940, (2) a commodity pool, and
(3) a company that invests primarily in
real estate and/or interests in real estate.
FinCEN proposed to capture within the
definition so-called hedge funds, private
equity funds, venture capital funds,
commodity pools, and real estate
investment trusts with total assets or
subscriptions of $1,000,000 or more.
FinCEN proposed to exclude, among
other things, any issuer that subjected
its participants to a two-year lock-up
period. Because unregistered investment
companies are not subject to Federal
functional regulation,8 FinCEN
3 31
U.S.C. 5312(a)(2)(I).
Laundering Programs for Mutual
Funds, 67 FR 21117 (Apr. 29, 2002).
5 Anti-Money Laundering Programs for
Unregistered Investment Companies, 67 FR 60617
(Sep. 26, 2002).
6 See 31 CFR 103.130(a) (a ‘‘mutual fund’’ is an
‘‘open-end company,’’ as the term is defined in the
Investment Company Act of 1940).
7 31 CFR 103.170. See also Anti-Money
Laundering Programs for Financial Institutions, 67
FR 67547 (Nov. 6, 2002).
8 Commodity pools, however, may be operated by
a CFTC-regulated commodity pool operator. See 7
U.S.C. 1a(5) (defining a ‘‘commodity pool operator’’
as ‘‘any person engaged in a business that is of the
nature of an investment trust, syndicate, or similar
form of enterprise, and who * * * solicits, accepts,
or receives from others, funds, securities, or
4 Anti-Money
PO 00000
Frm 00004
Fmt 4702
Sfmt 4702
proposed requiring these companies to
file a notice so that FinCEN and
agencies conducting BSA compliance
examinations of unregistered
investment companies could readily
identify such companies.
The comment period closed on
November 25, 2002. FinCEN received 34
comments in response to the notice of
proposed rulemaking from law firms,
unregistered investment companies,
investment advisers, bank holding
companies, trade groups, and a
registered futures association. These
comments addressed many aspects of
FinCEN’s proposal.
Significantly, comments were focused
on the breadth of the proposed
definition of ‘‘unregistered investment
company,’’ including the proposed
inclusion of commodity pools that are
operated by CFTC-regulated commodity
pool operators; the proposed inclusion
of real estate investment companies; and
the proposal to exclude from the
definition any company that subjects its
participants to a two-year lock-up
period. Comments also were focused on
the minimum contact provisions
proposed by FinCEN, under which
certain offshore funds would be
obligated to comply with the rule; the
ability of funds to outsource anti-money
laundering program obligations to thirdparty administrators; and the proposed
notice requirement.
B. Subsequent Developments
In June 2007, FinCEN announced that
it would be taking a fresh look at BSA
regulation to ensure that it is being
applied efficiently and effectively across
the industries that FinCEN regulates and
the industries FinCEN has proposed to
regulate. As part of that initiative,
FinCEN is considering whether and to
what extent it should impose
requirements under the BSA on
unregistered investment companies.
As it considers its approach to
unregistered investment companies,
FinCEN has determined that it will
withdraw the notice of proposed
rulemaking that was published in
September 2002. Given the passage of
time, FinCEN has determined that it
will not proceed with an anti-money
laundering program requirement for any
entity within the proposed definition of
unregistered investment company
without publishing a new proposal.
This will give industry and other
interested parties an opportunity to
provide comment on the contents of any
property * * * for the purpose of trading in any
commodity for future delivery on or subject to the
rules of any contract market or derivatives
transaction execution facility * * *’’).
E:\FR\FM\04NOP1.SGM
04NOP1
Federal Register / Vol. 73, No. 214 / Tuesday, November 4, 2008 / Proposed Rules
such proposal, as it may be affected by
any developments since 2002 in
industry operations as well as
functional and BSA regulation.
Finally, since the time that the notice
of proposed rulemaking was published,
FinCEN has concluded the major
rulemakings required by the USA
PATRIOT Act for banks, broker-dealers,
and futures commission merchants.
Each of these institutions is subject to a
comprehensive set of regulations under
the BSA including, among other things,
the obligation to establish and
implement an anti-money laundering
program,9 the obligation to establish and
implement a customer identification
program,10 the obligation to establish
and implement a special due diligence
program for foreign correspondent
accounts and foreign private banking
accounts,11 the obligation to detect and
report suspicious activity,12 and the
obligation to file currency transaction
reports.13
The financial transactions of
unregistered investment companies and
their participants must be conducted
through other financial institutions that
are subject to BSA requirements. Assets
within any of these unregistered
investment pools typically are carried
with these financial institutions. Thus,
as FinCEN continues to consider the
extent to which BSA requirements
should be imposed on unregistered
11 31
CFR 103.176 and 103.178.
CFR 103.17–103.19.
13 31 CFR 103.22.
CFR 103.120.
10 31 CFR 103.121–103.123.
dwashington3 on PRODPC61 with PROPOSALS
9 31
VerDate Aug<31>2005
14:33 Nov 03, 2008
12 31
Jkt 217001
PO 00000
Frm 00005
Fmt 4702
Sfmt 4702
65571
investment companies, their activity is
not entirely outside the current BSA
regulatory regime.
III. Withdrawal of the Notice of
Proposed Rulemaking
For the foregoing reasons, the notice
of proposed rulemaking, in which
FinCEN proposed requiring unregistered
investment companies to establish and
implement anti-money laundering
programs, as published in the Federal
Register on September 26, 2002 (67 FR
60617), is hereby withdrawn.
Dated: October 29, 2008.
James H. Freis, Jr.,
Director, Financial Crimes Enforcement
Network.
[FR Doc. E8–26202 Filed 11–3–08; 8:45 am]
BILLING CODE 4810–02–P
E:\FR\FM\04NOP1.SGM
04NOP1
]]>Agencies
[Federal Register Volume 73, Number 214 (Tuesday, November 4, 2008)]
[Proposed Rules]
[Pages 65569-65571]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-26202]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
31 CFR Part 103
RIN 1506-AA77
Financial Crimes Enforcement Network; Withdrawal of the Notice of
Proposed Rulemaking; Anti-Money Laundering Programs for Unregistered
Investment Companies
AGENCY: Financial Crimes Enforcement Network, Treasury.
ACTION: Withdrawal of notice of proposed rulemaking.
-----------------------------------------------------------------------
[[Page 65570]]
SUMMARY: The Financial Crimes Enforcement Network (``FinCEN'') is
withdrawing the notice of proposed rulemaking, dated September 26,
2002, in which FinCEN proposed requiring unregistered investment
companies--such as hedge funds, commodity pools, and similar investment
vehicles--to establish and implement anti-money laundering programs.
DATES: The withdrawal is effective November 4, 2008.
FOR FURTHER INFORMATION CONTACT: Regulatory Policy and Programs
Division, Financial Crimes Enforcement Network, (800) 949-2732.
SUPPLEMENTARY INFORMATION:
I. Background
On October 26, 2001, the President signed into law the Uniting and
Strengthening America by Providing Appropriate Tools Required to
Intercept and Obstruct Terrorism Act of 2001 (the ``USA PATRIOT Act''),
Public Law 107-56. Title III of the USA PATRIOT Act amended the anti-
money laundering provisions of the BSA, which is codified at 12 U.S.C.
1829b, 12 U.S.C. 1951-1959, and 31 U.S.C. 5311-5314, 5316-5332. The
amendments were designed to promote the prevention, detection, and
prosecution of international money laundering and terrorist financing.
Regulations implementing the Bank Secrecy Act appear at 31 CFR Part
103. The authority of the Secretary of the Treasury (``the Secretary'')
to administer the Bank Secrecy Act and its implementing regulations has
been delegated to the Director of the Financial Crimes Enforcement
Network.\1\
---------------------------------------------------------------------------
\1\ Accordingly, references herein to the Secretary's authority
apply equally to the Director of FinCEN.
---------------------------------------------------------------------------
Section 352 of the USA PATRIOT Act amended section 5318(h) of the
BSA. Section 352 requires every financial institution to establish an
anti-money laundering program that includes, at a minimum, (1) The
development of internal policies, procedures, and controls; (2) the
designation of a compliance officer; (3) an ongoing employee training
program; and (4) an independent audit function to test programs.
Section 352 authorizes the Secretary, after consulting with the
appropriate Federal functional regulator,\2\ to prescribe minimum
standards for anti-money laundering programs, and to exempt from the
application of those standards any financial institution that is not
subject to rules implementing the BSA.
---------------------------------------------------------------------------
\2\ Unregistered investment companies--except commodity pools
operated by a commodity pool operator that is registered or required
to be registered with the Commodity Futures Trading Commission--are
not functionally regulated.
---------------------------------------------------------------------------
Investment companies are defined as financial institutions in the
BSA.\3\ On April 29, 2002, FinCEN published an interim final rule
requiring mutual funds--a category of investment company--to establish
and implement anti-money laundering programs.\4\ On September 26, 2002,
FinCEN issued a notice of proposed rulemaking, proposing to require
``unregistered investment companies'' to establish and implement anti-
money laundering programs.\5\ In November 2002, FinCEN temporarily
exempted certain financial institutions, including investment companies
that were not mutual funds as that term is defined in the anti-money
laundering program rule for mutual funds,\6\ from the requirement to
establish and implement an anti-money laundering program.\7\
---------------------------------------------------------------------------
\3\ 31 U.S.C. 5312(a)(2)(I).
\4\ Anti-Money Laundering Programs for Mutual Funds, 67 FR 21117
(Apr. 29, 2002).
\5\ Anti-Money Laundering Programs for Unregistered Investment
Companies, 67 FR 60617 (Sep. 26, 2002).
\6\ See 31 CFR 103.130(a) (a ``mutual fund'' is an ``open-end
company,'' as the term is defined in the Investment Company Act of
1940).
\7\ 31 CFR 103.170. See also Anti-Money Laundering Programs for
Financial Institutions, 67 FR 67547 (Nov. 6, 2002).
---------------------------------------------------------------------------
II. The 2002 Notice of Proposed Rulemaking and Subsequent Developments
A. The 2002 Notice of Proposed Rulemaking
In its September 2002 notice of proposed rulemaking, FinCEN
proposed to define the term ``unregistered investment company'' as (1)
An issuer that, but for certain exclusions, would be an investment
company as that term is defined in the Investment Company Act of 1940,
(2) a commodity pool, and (3) a company that invests primarily in real
estate and/or interests in real estate. FinCEN proposed to capture
within the definition so-called hedge funds, private equity funds,
venture capital funds, commodity pools, and real estate investment
trusts with total assets or subscriptions of $1,000,000 or more.
FinCEN proposed to exclude, among other things, any issuer that
subjected its participants to a two-year lock-up period. Because
unregistered investment companies are not subject to Federal functional
regulation,\8\ FinCEN proposed requiring these companies to file a
notice so that FinCEN and agencies conducting BSA compliance
examinations of unregistered investment companies could readily
identify such companies.
---------------------------------------------------------------------------
\8\ Commodity pools, however, may be operated by a CFTC-
regulated commodity pool operator. See 7 U.S.C. 1a(5) (defining a
``commodity pool operator'' as ``any person engaged in a business
that is of the nature of an investment trust, syndicate, or similar
form of enterprise, and who * * * solicits, accepts, or receives
from others, funds, securities, or property * * * for the purpose of
trading in any commodity for future delivery on or subject to the
rules of any contract market or derivatives transaction execution
facility * * *'').
---------------------------------------------------------------------------
The comment period closed on November 25, 2002. FinCEN received 34
comments in response to the notice of proposed rulemaking from law
firms, unregistered investment companies, investment advisers, bank
holding companies, trade groups, and a registered futures association.
These comments addressed many aspects of FinCEN's proposal.
Significantly, comments were focused on the breadth of the proposed
definition of ``unregistered investment company,'' including the
proposed inclusion of commodity pools that are operated by CFTC-
regulated commodity pool operators; the proposed inclusion of real
estate investment companies; and the proposal to exclude from the
definition any company that subjects its participants to a two-year
lock-up period. Comments also were focused on the minimum contact
provisions proposed by FinCEN, under which certain offshore funds would
be obligated to comply with the rule; the ability of funds to outsource
anti-money laundering program obligations to third-party
administrators; and the proposed notice requirement.
B. Subsequent Developments
In June 2007, FinCEN announced that it would be taking a fresh look
at BSA regulation to ensure that it is being applied efficiently and
effectively across the industries that FinCEN regulates and the
industries FinCEN has proposed to regulate. As part of that initiative,
FinCEN is considering whether and to what extent it should impose
requirements under the BSA on unregistered investment companies.
As it considers its approach to unregistered investment companies,
FinCEN has determined that it will withdraw the notice of proposed
rulemaking that was published in September 2002. Given the passage of
time, FinCEN has determined that it will not proceed with an anti-money
laundering program requirement for any entity within the proposed
definition of unregistered investment company without publishing a new
proposal. This will give industry and other interested parties an
opportunity to provide comment on the contents of any
[[Page 65571]]
such proposal, as it may be affected by any developments since 2002 in
industry operations as well as functional and BSA regulation.
Finally, since the time that the notice of proposed rulemaking was
published, FinCEN has concluded the major rulemakings required by the
USA PATRIOT Act for banks, broker-dealers, and futures commission
merchants. Each of these institutions is subject to a comprehensive set
of regulations under the BSA including, among other things, the
obligation to establish and implement an anti-money laundering
program,\9\ the obligation to establish and implement a customer
identification program,\10\ the obligation to establish and implement a
special due diligence program for foreign correspondent accounts and
foreign private banking accounts,\11\ the obligation to detect and
report suspicious activity,\12\ and the obligation to file currency
transaction reports.\13\
---------------------------------------------------------------------------
\9\ 31 CFR 103.120.
\10\ 31 CFR 103.121-103.123.
\11\ 31 CFR 103.176 and 103.178.
\12\ 31 CFR 103.17-103.19.
\13\ 31 CFR 103.22.
---------------------------------------------------------------------------
The financial transactions of unregistered investment companies and
their participants must be conducted through other financial
institutions that are subject to BSA requirements. Assets within any of
these unregistered investment pools typically are carried with these
financial institutions. Thus, as FinCEN continues to consider the
extent to which BSA requirements should be imposed on unregistered
investment companies, their activity is not entirely outside the
current BSA regulatory regime.
III. Withdrawal of the Notice of Proposed Rulemaking
For the foregoing reasons, the notice of proposed rulemaking, in
which FinCEN proposed requiring unregistered investment companies to
establish and implement anti-money laundering programs, as published in
the Federal Register on September 26, 2002 (67 FR 60617), is hereby
withdrawn.
Dated: October 29, 2008.
James H. Freis, Jr.,
Director, Financial Crimes Enforcement Network.
[FR Doc. E8-26202 Filed 11-3-08; 8:45 am]
BILLING CODE 4810-02-P
