Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; Mission-Related Investments, Rural Community Investments; Regulatory Burden, 65567 [E8-26273]

Download as PDF 65567 Proposed Rules Federal Register Vol. 73, No. 214 Tuesday, November 4, 2008 This section of the FEDERAL REGISTER contains notices to the public of the proposed issuance of rules and regulations. The purpose of these notices is to give interested persons an opportunity to participate in the rule making prior to the adoption of the final rules. FARM CREDIT ADMINISTRATION 12 CFR Chapter VI RIN 3052–AC42 and 3052–AC39 Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; Mission-Related Investments, Rural Community Investments; Regulatory Burden Farm Credit Administration. Proposed rule and notice of intent; public comment notification. AGENCY: dwashington3 on PRODPC61 with PROPOSALS ACTION: SUMMARY: In June of 2008, the Farm Credit Administration (FCA, we, or us) published in the Federal Register a proposed rule pertaining to investments in rural communities as well as a notice of intent pertaining to regulatory burden, both requesting comments from the public. For both, a total of five comments sent via the https:// www.regulations.gov eRulemaking portal were not transmitted to the FCA. We are asking any member of the public who used this method to send comments to FCA and believes their comment may have been lost to contact the staff members listed below. DATES: Please contact us on or before November 21, 2008. ADDRESSES: You may review copies of comments we received on these two documents at our office in McLean, Virginia, or from our Web site at https://www.fca.gov. Once you are in the Web site, select ‘‘Public Commenters,’’ then ‘‘Public Comments,’’ and follow the directions for ‘‘Reading Submitted Public Comments.’’ FOR FURTHER INFORMATION CONTACT: Dale L. Aultman, Senior Policy Analyst, Office of Regulatory Policy, Farm Credit Administration, McLean, VA 22102– 5090, (703) 883–4498, TTY (703) 883– 4434; or Mary Alice Donner, Senior Attorney, Office of General Counsel, Farm Credit Administration, McLean, VA 22102–5090, (703) 883–4020, TTY (703) 883–4020. SUPPLEMENTARY INFORMATION: On June 16, 2008, we published (73 FR 33931) a VerDate Aug<31>2005 14:33 Nov 03, 2008 Jkt 217001 proposed rule that would authorize each Farm Credit System bank, association, and service corporation to invest in rural communities across America under certain conditions. The comment period for this proposed rule ended on August 15. On June 23, 2008, we published (73 FR 35361) a notice of regulatory review and request for comment pertaining to regulatory burden. That comment period ended on August 22, 2008. However, due to a technical software error that is now corrected, a total of five public comments submitted via the https:// www.regulations.gov eRulemaking portal were not transmitted to FCA. Four comments pertained to the proposed rule on rural community investments and one comment pertained to the regulatory burden notice. The FCA supports public involvement and participation in its regulatory process. Therefore, we would like any member of the public who submitted a comment, via the eRulemaking portal, and believes their comment may have been lost to contact us so we may personally ensure that your comment is included. You may contact us by calling one of the two individuals listed in the FOR FURTHER INFORMATION CONTACT section of this notice. Dated: October 30, 2008. Roland E. Smith, Secretary, Farm Credit Administration Board. [FR Doc. E8–26273 Filed 11–3–08; 8:45 am] BILLING CODE 6705–01–P DEPARTMENT OF THE TREASURY 31 CFR Part 103 RIN 1506–AA75 Financial Crimes Enforcement Network; Withdrawal of the Notice of Proposed Rulemaking; Anti-Money Laundering Programs for Commodity Trading Advisors Financial Crimes Enforcement Network, Treasury. ACTION: Withdrawal of notice of proposed rulemaking. AGENCY: SUMMARY: The Financial Crimes Enforcement Network (‘‘FinCEN’’) is withdrawing the notice of proposed rulemaking, dated May 5, 2003, in which FinCEN proposed requiring PO 00000 Frm 00001 Fmt 4702 Sfmt 4702 commodity trading advisors to establish and implement anti-money laundering programs. The withdrawal is effective November 4, 2008. DATES: 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 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. 1 Accordingly, references herein to the Secretary’s authority apply equally to the Director of FinCEN. 2 In the case of commodity trading advisors, the appropriate Federal functional regulator is the Commodity Futures Trading Commission (‘‘CFTC’’). E:\FR\FM\04NOP1.SGM 04NOP1

Agencies

[Federal Register Volume 73, Number 214 (Tuesday, November 4, 2008)]
[Proposed Rules]
[Page 65567]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-26273]


========================================================================
Proposed Rules
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains notices to the public of 
the proposed issuance of rules and regulations. The purpose of these 
notices is to give interested persons an opportunity to participate in 
the rule making prior to the adoption of the final rules.

========================================================================


Federal Register / Vol. 73, No. 214 / Tuesday, November 4, 2008 / 
Proposed Rules

[[Page 65567]]



FARM CREDIT ADMINISTRATION

12 CFR Chapter VI

RIN 3052-AC42 and 3052-AC39


Funding and Fiscal Affairs, Loan Policies and Operations, and 
Funding Operations; Mission-Related Investments, Rural Community 
Investments; Regulatory Burden

AGENCY: Farm Credit Administration.

ACTION: Proposed rule and notice of intent; public comment 
notification.

-----------------------------------------------------------------------

SUMMARY: In June of 2008, the Farm Credit Administration (FCA, we, or 
us) published in the Federal Register a proposed rule pertaining to 
investments in rural communities as well as a notice of intent 
pertaining to regulatory burden, both requesting comments from the 
public. For both, a total of five comments sent via the https://
www.regulations.gov eRulemaking portal were not transmitted to the FCA. 
We are asking any member of the public who used this method to send 
comments to FCA and believes their comment may have been lost to 
contact the staff members listed below.

DATES: Please contact us on or before November 21, 2008.

ADDRESSES: You may review copies of comments we received on these two 
documents at our office in McLean, Virginia, or from our Web site at 
https://www.fca.gov. Once you are in the Web site, select ``Public 
Commenters,'' then ``Public Comments,'' and follow the directions for 
``Reading Submitted Public Comments.''

FOR FURTHER INFORMATION CONTACT: Dale L. Aultman, Senior Policy 
Analyst, Office of Regulatory Policy, Farm Credit Administration, 
McLean, VA 22102-5090, (703) 883-4498, TTY (703) 883-4434; or Mary 
Alice Donner, Senior Attorney, Office of General Counsel, Farm Credit 
Administration, McLean, VA 22102-5090, (703) 883-4020, TTY (703) 883-
4020.

SUPPLEMENTARY INFORMATION: On June 16, 2008, we published (73 FR 33931) 
a proposed rule that would authorize each Farm Credit System bank, 
association, and service corporation to invest in rural communities 
across America under certain conditions. The comment period for this 
proposed rule ended on August 15. On June 23, 2008, we published (73 FR 
35361) a notice of regulatory review and request for comment pertaining 
to regulatory burden. That comment period ended on August 22, 2008. 
However, due to a technical software error that is now corrected, a 
total of five public comments submitted via the https://
www.regulations.gov eRulemaking portal were not transmitted to FCA. 
Four comments pertained to the proposed rule on rural community 
investments and one comment pertained to the regulatory burden notice.
    The FCA supports public involvement and participation in its 
regulatory process. Therefore, we would like any member of the public 
who submitted a comment, via the eRulemaking portal, and believes their 
comment may have been lost to contact us so we may personally ensure 
that your comment is included. You may contact us by calling one of the 
two individuals listed in the FOR FURTHER INFORMATION CONTACT section 
of this notice.

    Dated: October 30, 2008.
Roland E. Smith,
Secretary, Farm Credit Administration Board.
[FR Doc. E8-26273 Filed 11-3-08; 8:45 am]
BILLING CODE 6705-01-P
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