Proposed Information Collection; Comment Request, 72763-72764 [2011-30310]
Download as PDF
Federal Register / Vol. 76, No. 227 / Friday, November 25, 2011 / Notices
wreier-aviles on DSK7SPTVN1PROD with NOTICES
B. The Substance and Quality of
Administration of the Bank Supervisory
and Counter-Money Laundering Laws of
That Jurisdiction
Iran’s serious deficiencies with
respect to anti-money laundering/
countering the financing of terrorism
(‘‘AML/CFT’’) controls has long been
highlighted by numerous international
bodies and government agencies.
Starting in October 2007, the FATF has
issued a series of public statements
expressing its concern that Iran’s lack of
a comprehensive AML/CFT regime
represents a significant vulnerability
within the international financial
system. The statements further called
upon Iran to address those deficiencies
with urgency, and called upon FATFmember countries to advise their
institutions to conduct enhanced due
diligence with respect to the risks
associated with Iran’s deficiencies.108
The FATF has been particularly
concerned with Iran’s failure to address
the risk of terrorist financing, and
starting in February 2009, the FATF
called upon its members and urged all
jurisdictions to apply effective countermeasures to protect their financial
sectors from the terrorist financing risks
emanating from Iran.109 In addition, the
FATF advised jurisdictions to protect
correspondent relationships from being
used to bypass or evade countermeasures and risk mitigation practices,
and to take into account money
laundering and financing of terrorism
risks when considering requests by
Iranian financial institutions to open
sanctions/Programs/Documents/
20110331_advisory.pdf).
108 In response to concerns raised by these FATF
and IMF reports, FinCEN issued an advisory on
October 16, 2007 to financial institutions regarding
the heightened risk of Iranian ‘‘money laundering,
terrorist financing, and weapons of mass
destruction proliferation financing.’’ The advisory
further cautioned institutions that there may be an
increased effort by Iranian entities to circumvent
international sanctions and related financial
community scrutiny through the use of deceptive
practices. See ‘‘Guidance to Financial Institutions
on the Increasing Money Laundering Threat
Involving Illicit Iranian Activity,’’ FinCEN, October
16, 2007 (https://www.fincen.gov/statutes_regs/
guidance/pdf/
guidance_fi_increasing_mlt_iranian.pdf). The FATF
simultaneously published guidance to assist
countries with implementation of UNSCRs 1737
and 1747. See ‘‘Guidance Regarding the
Implementation of Activity-Based Financial
Prohibitions of United Nations Security Council
Resolution 1737,’’ October 12, 2007 (https://
www.fatf-gafi.org/dataoecd/43/17/39494050.pdf)
and ‘‘Guidance Regarding the Implementation of
Financial Provisions of the United Nations Security
Council Resolutions to Counter the Proliferation of
Weapons of Mass Destruction,’’ September 5, 2007
(https://www.fatf-gafi.org/dataoecd/23/16/
39318680.pdf).
109 See ‘‘FATF Statement on Iran,’’ The Financial
Action Task Force, February 25, 2009 (https://
www.fatf-gafi.org/dataoecd/18/28/42242615.pdf).
VerDate Mar<15>2010
14:31 Nov 23, 2011
Jkt 226001
branches and subsidiaries in their
jurisdictions.110 The FATF also called
on its members and other jurisdictions
to advise their financial institutions to
give special attention to business
relationships and transactions with Iran,
including Iranian companies and
financial institutions.111 Over the past
three years, the FATF has repeatedly
reiterated these concerns and reaffirmed
its call for FATF-member countries and
all jurisdictions to implement
countermeasures to protect the
international financial system from the
terrorist financing risk emanating from
Iran. In response, numerous countries,
including all G7 countries, have issued
advisories to their financial
institutions.112
The FATF’s most recent statement in
October 2011 reiterated, with a renewed
urgency, its concern regarding Iran’s
failure to address the risk of terrorist
financing and the serious threat this
poses to the integrity to the
international financial system.113 The
FATF reaffirmed its February 2009 call
to apply effective countermeasures to
protect their financial sectors from ML/
FT risks emanating from Iran, and
further called upon its members to
consider the steps already taken and
possible additional safeguards or
strengthen existing ones.114 In addition,
the FATF stated that, if Iran fails to take
concrete steps to improve its AML/CFT
regime, the FATF will consider calling
on its members and urging all
jurisdictions to strengthen
countermeasures in February 2012.115
The numerous calls by FATF for Iran to
urgently address its terrorist financing
vulnerability, coupled with the
extensive record of Iranian entities
using the financial system to finance
terrorism, proliferation activities, and
110 Id.
72763
other illicit activity,116 raises significant
concern over the willingness or ability
of Iran to establish adequate controls to
counter terrorist financing.
C. Whether the United States Has a
Mutual Legal Assistance Treaty With
That Jurisdiction, and the Experience of
U.S. Law Enforcement Officials and
Regulatory Officials in Obtaining
Information About Transactions
Originating in or Routed Through or to
Such Jurisdiction
Iran has not entered into any mutual
legal assistance treaties. Additionally,
U.S. law enforcement and regulatory
officials have found Iran to be
uncooperative regarding access to
information about financial
transactions. Accordingly, Iran remains
a safe haven for those who would
commit financial crimes against the
United States.
III. Finding
Based on the foregoing factors, the
Director of FinCEN hereby finds that the
Islamic Republic of Iran is a jurisdiction
of primary money laundering concern.
Dated: November 18, 2011
James H. Freis, Jr.,
Director, Financial Crimes Enforcement
Network.
[FR Doc. 2011–30332 Filed 11–23–11; 8:45 am]
BILLING CODE 4810–02–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Proposed Information Collection;
Comment Request
Office of the Comptroller of the
Currency (OCC), Treasury.
ACTION: Notice and request for comment.
AGENCY:
111 Id.
112 See ‘‘Circular 13/2008 (GW)—Statement of the
FATF of 16 October 2008,’’ November 7, 2008
(https://www.bafin.de/cln_171/nn_721228/
SharedDocs/Veroeffentlichungen/EN/Service/
Circulars/rs__0813__gw.html?__nnn=true);
‘‘February 27, 2009 FINTRAC Advisory,’’ February
27, 2009 (https://www.fintrac-canafe.gc.ca/
publications/avs/2009–02–27-eng.asp); ‘‘HM
Treasury warns businesses of serious threats posed
to the international financial system,’’ March 11,
2009 (https://webarchive.nationalarchives.gov.uk/+/
https://www.hm-treasury.gov.uk/press_26_09.htm);
‘‘Letter from French Minister of Economy,’’ (https://
www2.economie.gouv.fr/directions_services/dgtpe/
sanctions/sanctionsiran.php); and ‘‘Bank of Italy
Circular,’’ (https://www.dt.tesoro.it/it/prevenzione
_reati_finanziari/).
113 See ‘‘FATF Public Statement,’’ The Financial
Action Task Force, October 28, 2011 (https://
www.fatf-gafi.org/document/55/
0,3746,en_32250379_32236992_48966519_1_
1_1_1,00.html).
114 Id.
115 Id.
PO 00000
Frm 00092
Fmt 4703
Sfmt 4703
The OCC, as part of its
continuing effort to reduce paperwork
and respondent burden, invites the
general public and other Federal
agencies to take this opportunity to
comment on a continuing information
collection, as required by the Paperwork
Reduction Act of 1995. Currently, the
OCC is soliciting comment concerning
its extension, without change, of an
information collection titled, ‘‘Release
of Non-Public Information—12 CFR 4,
Subpart C.’’
DATES: You should submit written
comments by January 24, 2012.
SUMMARY:
116 ‘‘Update on the Continuing Illicit Finance
Threat Emanating From Iran,’’ FinCEN, June 22,
2010 (https://www.fincen.gov/statutes_regs/
guidance/html/fin-2010-a008.html).
E:\FR\FM\25NON1.SGM
25NON1
72764
Federal Register / Vol. 76, No. 227 / Friday, November 25, 2011 / Notices
You should direct all
written comments to: Communications
Division, Office of the Comptroller of
the Currency, Public Information Room,
Mailstop 1–5, Attention: 1557–0200, 250
E Street, SW., Washington, DC 20219. In
addition, comments may be sent by fax
to (202) 874–4448, or by electronic mail
to regs.comments@occ.treas.gov. You
can inspect and photocopy the
comments at the OCC’s Public
Information Room, 250 E Street, SW.,
Washington, DC 20219. For security
reasons, the OCC requires that visitors
make an appointment to inspect
comments. You may do so by calling
(202) 874–5043. Upon arrival, visitors
will be required to present valid
government-issued photo identification
and submit to security screening in
order to inspect and photocopy
comments.
Additionally, you should send a copy
of your comments to: OCC Desk Officer,
1557–0200, by mail to U.S. Office of
Management and Budget, 725 17th
Street, NW., #10235, Washington, DC
20503, or by fax to (202) 395–6974.
FOR FURTHER INFORMATION CONTACT: You
can request additional information or a
copy of the collection from Ira L. Mills,
OCC Clearance Officer, (202) 874–6055,
Legislative and Regulatory Activities
Division, Office of the Comptroller of
the Currency, 250 E Street, SW.,
Washington, DC 20219.
SUPPLEMENTARY INFORMATION:
The OCC is proposing to extend OMB
approval of the following information
collection:
Title: Release of Non-Public
Information—12 CFR 4, Subpart C.
OMB Number: 1557–0200.
Form Number: None.
Abstract: This submission covers an
existing regulation and involves no
change to the regulation or to the
information collections embodied in the
regulation. The OCC requests only that
OMB renew its approval of the
information collections in the current
regulation.
The information requirements require
individuals who are requesting nonpublic OCC information to provide the
OCC with information regarding the
requester’s legal grounds for the request.
The release of non-public OCC
information to a requester who did not
have sufficient legal grounds to obtain
the information would inhibit open
consultation between a bank and the
OCC, thereby impairing the OCC’s
supervisory and regulatory mission. The
OCC is entitled, under statute and
caselaw, to require requesters to
demonstrate that they have sufficient
legal grounds for the OCC to release
wreier-aviles on DSK7SPTVN1PROD with NOTICES
ADDRESSES:
VerDate Mar<15>2010
14:31 Nov 23, 2011
Jkt 226001
non-public OCC information. The OCC
needs to identify the requester’s legal
grounds to determine if it should release
the requested non-public OCC
information.
The information requirements in 12
CFR part 4, subpart C, are located as
follows:
• 12 CFR 4.33: Request for non-public
OCC records or testimony.
• 12 CFR 4.35(b)(3): Third parties
requesting testimony.
• 12 CFR 4.37(a)(2): OCC former
employee notifying OCC of subpoena.
• 12 CFR 4.37(a) and (b): Limitation
on dissemination of released
information.
• 12 CFR 4.39(d): Request for
authenticated records or certificate of
nonexistence of records.
The OCC uses the information to
process requests for non-public OCC
information and to determine if
sufficient grounds exist for the OCC to
release the requested information or
provide testimony that would include a
discussion of non-public information.
This information collection facilitates
the processing of requests and expedites
the OCC’s release of non-public
information and testimony to the
requester, as appropriate.
Type of Review: Extension, without
change, of a currently approved
collection.
Affected Public: Businesses or other
for-profit; individuals.
Number of Respondents: 195.
Total Annual Responses: 195.
Frequency of Response: On occasion.
Total Annual Burden: 592 hours.
Comments submitted in response to
this notice will be summarized and
included in the request for OMB
approval. All comments will become a
matter of public record. Comments are
invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information has practical utility;
(b) The accuracy of the agency’s
estimate of the burden of the collection
of information;
(c) Ways to enhance the quality,
utility, and clarity of the information to
be collected;
(d) Ways to minimize the burden of
the collection on respondents, including
through the use of automated collection
techniques or other forms of information
technology; and
(e) Estimates of capital or start-up
costs and costs of operation,
maintenance, and purchase of services
to provide information.
PO 00000
Frm 00093
Fmt 4703
Sfmt 4703
Dated: November 17, 2011.
Michele Meyer,
Assistant Director, Legislative & Regulatory
Activities Division.
[FR Doc. 2011–30310 Filed 11–23–11; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network
Bank Secrecy Act Advisory Group;
Solicitation of Application for
Membership
Financial Crimes Enforcement
Network, Treasury.
ACTION: Notice and request for
nominations.
AGENCY:
FinCEN is inviting the public
to nominate financial institutions and
trade groups for membership on the
Bank Secrecy Act Advisory Group. New
members will be selected for three-year
membership terms.
DATES: Nominations must be received
by December 27, 2011.
ADDRESSES: Applications may be mailed
(not sent by facsimile) to Regulatory
Policy and Programs Division, Financial
Crimes Enforcement Network, P.O. BOX
39, Vienna, VA 22183 or emailed to:
BSAAG@fincen.gov.
FOR FURTHER INFORMATION CONTACT:
Clare Murphy, Regulatory Outreach
Specialist at (202) 354–6400.
SUPPLEMENTARY INFORMATION: The
Annunzio-Wylie Anti-Money
Laundering Act of 1992 required the
Secretary of the Treasury to establish a
Bank Secrecy Act Advisory Group
(BSAAG) consisting of representatives
from federal regulatory and law
enforcement agencies, financial
institutions, and trade groups with
members subject to the requirements of
the Bank Secrecy Act, 31 CFR 1000–
1099 et seq. or Section 6050I of the
Internal Revenue Code of 1986. The
BSAAG is the means by which the
Secretary receives advice on the
operations of the Bank Secrecy Act. As
chair of the BSAAG, the Director of
FinCEN is responsible for ensuring that
relevant issues are placed before the
BSAAG for review, analysis, and
discussion. Ultimately, the BSAAG will
make policy recommendations to the
Secretary on issues considered. BSAAG
membership is open to financial
institutions and trade groups. New
members will be selected to serve a
three-year term and must designate one
individual to represent that member at
plenary meetings. In compliance with
Executive Order 13490 of January 21,
2009, and White House policy, member
SUMMARY:
E:\FR\FM\25NON1.SGM
25NON1
Agencies
[Federal Register Volume 76, Number 227 (Friday, November 25, 2011)]
[Notices]
[Pages 72763-72764]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-30310]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Proposed Information Collection; Comment Request
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: The OCC, as part of its continuing effort to reduce paperwork
and respondent burden, invites the general public and other Federal
agencies to take this opportunity to comment on a continuing
information collection, as required by the Paperwork Reduction Act of
1995. Currently, the OCC is soliciting comment concerning its
extension, without change, of an information collection titled,
``Release of Non-Public Information--12 CFR 4, Subpart C.''
DATES: You should submit written comments by January 24, 2012.
[[Page 72764]]
ADDRESSES: You should direct all written comments to: Communications
Division, Office of the Comptroller of the Currency, Public Information
Room, Mailstop 1-5, Attention: 1557-0200, 250 E Street, SW.,
Washington, DC 20219. In addition, comments may be sent by fax to (202)
874-4448, or by electronic mail to regs.comments@occ.treas.gov. You can
inspect and photocopy the comments at the OCC's Public Information
Room, 250 E Street, SW., Washington, DC 20219. For security reasons,
the OCC requires that visitors make an appointment to inspect comments.
You may do so by calling (202) 874-5043. Upon arrival, visitors will be
required to present valid government-issued photo identification and
submit to security screening in order to inspect and photocopy
comments.
Additionally, you should send a copy of your comments to: OCC Desk
Officer, 1557-0200, by mail to U.S. Office of Management and Budget,
725 17th Street, NW., 10235, Washington, DC 20503, or by fax
to (202) 395-6974.
FOR FURTHER INFORMATION CONTACT: You can request additional information
or a copy of the collection from Ira L. Mills, OCC Clearance Officer,
(202) 874-6055, Legislative and Regulatory Activities Division, Office
of the Comptroller of the Currency, 250 E Street, SW., Washington, DC
20219.
SUPPLEMENTARY INFORMATION:
The OCC is proposing to extend OMB approval of the following
information collection:
Title: Release of Non-Public Information--12 CFR 4, Subpart C.
OMB Number: 1557-0200.
Form Number: None.
Abstract: This submission covers an existing regulation and
involves no change to the regulation or to the information collections
embodied in the regulation. The OCC requests only that OMB renew its
approval of the information collections in the current regulation.
The information requirements require individuals who are requesting
non-public OCC information to provide the OCC with information
regarding the requester's legal grounds for the request. The release of
non-public OCC information to a requester who did not have sufficient
legal grounds to obtain the information would inhibit open consultation
between a bank and the OCC, thereby impairing the OCC's supervisory and
regulatory mission. The OCC is entitled, under statute and caselaw, to
require requesters to demonstrate that they have sufficient legal
grounds for the OCC to release non-public OCC information. The OCC
needs to identify the requester's legal grounds to determine if it
should release the requested non-public OCC information.
The information requirements in 12 CFR part 4, subpart C, are
located as follows:
12 CFR 4.33: Request for non-public OCC records or
testimony.
12 CFR 4.35(b)(3): Third parties requesting testimony.
12 CFR 4.37(a)(2): OCC former employee notifying OCC of
subpoena.
12 CFR 4.37(a) and (b): Limitation on dissemination of
released information.
12 CFR 4.39(d): Request for authenticated records or
certificate of nonexistence of records.
The OCC uses the information to process requests for non-public OCC
information and to determine if sufficient grounds exist for the OCC to
release the requested information or provide testimony that would
include a discussion of non-public information. This information
collection facilitates the processing of requests and expedites the
OCC's release of non-public information and testimony to the requester,
as appropriate.
Type of Review: Extension, without change, of a currently approved
collection.
Affected Public: Businesses or other for-profit; individuals.
Number of Respondents: 195.
Total Annual Responses: 195.
Frequency of Response: On occasion.
Total Annual Burden: 592 hours.
Comments submitted in response to this notice will be summarized
and included in the request for OMB approval. All comments will become
a matter of public record. Comments are invited on:
(a) Whether the collection of information is necessary for the
proper performance of the functions of the agency, including whether
the information has practical utility;
(b) The accuracy of the agency's estimate of the burden of the
collection of information;
(c) Ways to enhance the quality, utility, and clarity of the
information to be collected;
(d) Ways to minimize the burden of the collection on respondents,
including through the use of automated collection techniques or other
forms of information technology; and
(e) Estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Dated: November 17, 2011.
Michele Meyer,
Assistant Director, Legislative & Regulatory Activities Division.
[FR Doc. 2011-30310 Filed 11-23-11; 8:45 am]
BILLING CODE 4810-33-P