Information Collection Proposed Renewal Without Change; Comment Request; Anti-Money Laundering Programs; Due Diligence Programs for Correspondent Accounts for Foreign Financial Institutions, 65764-65765 [2013-25840]

Download as PDF 65764 Federal Register / Vol. 78, No. 212 / Friday, November 1, 2013 / Notices Estimated Number of Respondents: 3,831. Estimated Total Annual Responses: 3,831. Frequency of Response: On occasion. Estimated Total Annual Burden: 12,174 hours. The OCC issued a notice concerning this collection for 60 days of comment on August 19, 2013 (78 FR 50491). No comments were received. Comments continue to be 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 startup costs and costs of operation, maintenance, and purchase of services to provide information. Dated: October 28, 2013. Stuart E. Feldstein, Director, Legislative and Regulatory Activities Division. [FR Doc. 2013–26199 Filed 10–31–13; 8:45 am] BILLING CODE 4810–33–P DEPARTMENT OF THE TREASURY Financial Crimes Enforcement Network Information Collection Proposed Renewal Without Change; Comment Request; Anti-Money Laundering Programs; Due Diligence Programs for Correspondent Accounts for Foreign Financial Institutions Financial Crimes Enforcement Network, Department of the Treasury. ACTION: Request for comments. AGENCY: As part of our continuing effort to reduce paperwork and respondent burden, we invite comment on a proposed renewal, without change, to an information collection found in existing regulations requiring U.S. financial institutions to establish due diligence policies, procedures, and controls reasonably designed to detect and report money laundering through correspondent accounts that U.S. financial institutions establish or maintain for certain foreign financial institutions. This request for comments emcdonald on DSK67QTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 17:40 Oct 31, 2013 Jkt 232001 is being made pursuant to the Paperwork Reduction Act of 1995, Public Law 104–13, 44 U.S.C. 3506(c)(2)(A). DATES: Written comments are welcome and must be received on or before December 31, 2013. ADDRESSES: Written comments should be submitted to: Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183, Attention: Comments on Anti-Money Laundering Program and Due Diligence Programs for Correspondent Accounts for Foreign Financial Institutions. Comments also may be submitted by electronic mail to the following Internet address: regcomments@fincen.gov, again with a caption, in the body of the text, ‘‘Attention: Comments on Anti-Money Laundering Program and Due Diligence Programs for Correspondent Accounts for Foreign Financial Institutions.’’ Inspection of comments: Comments may be inspected, between 10 a.m. and 4 p.m., in the FinCEN reading room in Vienna, VA. Persons wishing to inspect the comments submitted must request an appointment with the Disclosure Officer by telephoning (703) 905–5034 (not a toll free call). FOR FURTHER INFORMATION CONTACT: Financial Crimes Enforcement Network, Policy Division at (800) 949–2732, select option 6. SUPPLEMENTARY INFORMATION: Abstract: The Director of the Financial Crimes Enforcement Network (‘‘FinCEN’’) is the delegated administrator of the Bank Secrecy Act (‘‘Act’’). The Act authorizes the Director to issue regulations to require all financial institutions defined as such in the Act to maintain or file certain reports or records that have been determined to have a high degree of usefulness in criminal, tax, or regulatory investigations or proceedings, or in the conduct of intelligence or counterintelligence activities, including analysis, to protect against international terrorism, and to implement anti-money laundering programs and compliance procedures.1 Title: Anti-Money Laundering Programs and Due Diligence Programs for Correspondent Accounts for Foreign Financial Institutions (31 CFR 1010.610). 1 Pub. L. 91–508, as amended and codified at 12 U.S.C. 1829b, 12 U.S.C. 1951–1959 and 31 U.S.C. 5311–5332. Language expanding the scope of the Bank Secrecy Act to intelligence or counterintelligence activities to protect against international terrorism was added by section 358 of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (‘‘USA PATRIOT’’) Act of 2001, Public Law 107–56. PO 00000 Frm 00160 Fmt 4703 Sfmt 4703 Office of Management and Budget Control Number: 1506–0046. Abstract: FinCEN is renewing, without change, the regulation implementing section 5318(i)(1) and (2) of the Act, found at 31 CFR 1010.610. In general, the regulation requires financial institutions, as defined in 31 U.S.C. 5312(a)(2) and 31 CFR 1010.100 to establish due diligence and, in some circumstances, enhanced due diligence policies, procedures, and controls reasonably designed to detect and report money laundering through correspondent accounts that covered U.S. financial institutions establish or maintain for certain foreign financial institutions. Current Action: Renewal without change to existing regulations. Type of Review: Extension of a currently approved information collection. Affected Public: Businesses and other for-profit institutions. Burden: Estimated Number of Respondents: 22,197.2 Estimated Number of Responses: 22,197. Estimated Number of Hours: 44,394. (Two hours per response). An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a valid control number assigned by the Office of Management and Budget (‘‘OMB’’). Records required to be retained under the BSA must be retained for five years. Generally, information collected pursuant to the BSA is confidential but may be shared as provided by law with regulatory and law enforcement authorities. Request for Comments: Comments submitted in response to this notice will be summarized and/or 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 shall have 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 of information on respondents, including through the use of automated collection techniques or other forms of information 2 This number includes depository institutions (14,087), broker-dealers in securities (5,100), future commission merchants (101), introducing brokers in commodities (1,249), and open end mutual funds (1,660), each as defined under the BSA. E:\FR\FM\01NON1.SGM 01NON1 Federal Register / Vol. 78, No. 212 / Friday, November 1, 2013 / Notices technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance and purchase of services to provide information. Dated: October 21, 2013. Jennifer Shasky Calvery, Director, Financial Crimes Enforcement Network. [FR Doc. 2013–25840 Filed 10–31–13; 8:45 am] BILLING CODE 4810–2P–P DEPARTMENT OF VETERANS AFFAIRS National Academic Affiliations Council Notice of Meeting emcdonald on DSK67QTVN1PROD with NOTICES The Department of Veterans Affairs (VA) gives notice under the Federal Advisory Committee Act, 5 U.S.C. App. 2, that a meeting of the National Academic Affiliations Council (NAAC) will be held on November 14–15, 2013, in the Office of Academic Affiliations Conference Room 870, 1800 G Street NW., Washington, DC. The sessions will begin at 8:00 a.m. each day and adjourn VerDate Mar<15>2010 17:40 Oct 31, 2013 Jkt 232001 at 5:00 p.m. on November 14 and at 1:00 p.m. on November 15. The purpose of the Council is to advise the Secretary on matters affecting partnerships between VA and its academic affiliates. On November 14, the Council will review the status of recommendations from its previous meetings; hear from Veterans Health Administration (VHA) officials; and engage in discussions about patient aligned care teams in VA and implications for health professions education. On November 15, the Council will hear from officials of the VHA Office of Research and Development; receive reports from Liaison Committees and discuss VA advancements in quality and patient safety education. The Council will receive public comments at 12:30 p.m. Because the meeting is being held in a government building, a photo I.D. must be presented at the Guard’s Desk as a part of the clearance process. Therefore, you should allow an additional 15 minutes before the meeting begins. PO 00000 Frm 00161 Fmt 4703 Sfmt 9990 65765 A sign-in sheet for those who want to give comments will be available at the meeting. Individuals who speak are invited to submit a 1–2 page summary of their comments at the time of the meeting for inclusion in the official meeting record. Oral presentations will be limited to five minutes or less, depending on the number of participants. Interested parties may also provide written comments for review by the Council to Gloria J. Holland, Ph.D., Special Assistant for Policy and Planning, Office of Academic Affiliations (10A2D), VA, 810 Vermont Avenue NW., Washington, DC 20420 or by email to Gloria.Holland@va.gov. Any member of the public wishing to attend or seeking additional information should contact Dr. Holland by email or by phone at (202) 461–9490. Dated: October 29, 2013. Robert C. McFetridge, Director, Office of Regulation Policy and Management, Office of the General Counsel. [FR Doc. 2013–26077 Filed 10–31–13; 8:45 am] BILLING CODE P E:\FR\FM\01NON1.SGM 01NON1

Agencies

[Federal Register Volume 78, Number 212 (Friday, November 1, 2013)]
[Notices]
[Pages 65764-65765]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-25840]


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DEPARTMENT OF THE TREASURY

Financial Crimes Enforcement Network


Information Collection Proposed Renewal Without Change; Comment 
Request; Anti-Money Laundering Programs; Due Diligence Programs for 
Correspondent Accounts for Foreign Financial Institutions

AGENCY: Financial Crimes Enforcement Network, Department of the 
Treasury.

ACTION: Request for comments.

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

SUMMARY: As part of our continuing effort to reduce paperwork and 
respondent burden, we invite comment on a proposed renewal, without 
change, to an information collection found in existing regulations 
requiring U.S. financial institutions to establish due diligence 
policies, procedures, and controls reasonably designed to detect and 
report money laundering through correspondent accounts that U.S. 
financial institutions establish or maintain for certain foreign 
financial institutions. This request for comments is being made 
pursuant to the Paperwork Reduction Act of 1995, Public Law 104-13, 44 
U.S.C. 3506(c)(2)(A).

DATES: Written comments are welcome and must be received on or before 
December 31, 2013.

ADDRESSES: Written comments should be submitted to: Financial Crimes 
Enforcement Network, P.O. Box 39, Vienna, VA 22183, Attention: Comments 
on Anti-Money Laundering Program and Due Diligence Programs for 
Correspondent Accounts for Foreign Financial Institutions. Comments 
also may be submitted by electronic mail to the following Internet 
address: regcomments@fincen.gov, again with a caption, in the body of 
the text, ``Attention: Comments on Anti-Money Laundering Program and 
Due Diligence Programs for Correspondent Accounts for Foreign Financial 
Institutions.''
    Inspection of comments: Comments may be inspected, between 10 a.m. 
and 4 p.m., in the FinCEN reading room in Vienna, VA. Persons wishing 
to inspect the comments submitted must request an appointment with the 
Disclosure Officer by telephoning (703) 905-5034 (not a toll free 
call).

FOR FURTHER INFORMATION CONTACT: Financial Crimes Enforcement Network, 
Policy Division at (800) 949-2732, select option 6.

SUPPLEMENTARY INFORMATION: 
    Abstract: The Director of the Financial Crimes Enforcement Network 
(``FinCEN'') is the delegated administrator of the Bank Secrecy Act 
(``Act''). The Act authorizes the Director to issue regulations to 
require all financial institutions defined as such in the Act to 
maintain or file certain reports or records that have been determined 
to have a high degree of usefulness in criminal, tax, or regulatory 
investigations or proceedings, or in the conduct of intelligence or 
counter-intelligence activities, including analysis, to protect against 
international terrorism, and to implement anti-money laundering 
programs and compliance procedures.\1\
---------------------------------------------------------------------------

    \1\ Pub. L. 91-508, as amended and codified at 12 U.S.C. 1829b, 
12 U.S.C. 1951-1959 and 31 U.S.C. 5311-5332. Language expanding the 
scope of the Bank Secrecy Act to intelligence or counter-
intelligence activities to protect against international terrorism 
was added by section 358 of the Uniting and Strengthening America by 
Providing Appropriate Tools Required to Intercept and Obstruct 
Terrorism (``USA PATRIOT'') Act of 2001, Public Law 107-56.
---------------------------------------------------------------------------

    Title: Anti-Money Laundering Programs and Due Diligence Programs 
for Correspondent Accounts for Foreign Financial Institutions (31 CFR 
1010.610).
    Office of Management and Budget Control Number: 1506-0046.
    Abstract: FinCEN is renewing, without change, the regulation 
implementing section 5318(i)(1) and (2) of the Act, found at 31 CFR 
1010.610. In general, the regulation requires financial institutions, 
as defined in 31 U.S.C. 5312(a)(2) and 31 CFR 1010.100 to establish due 
diligence and, in some circumstances, enhanced due diligence policies, 
procedures, and controls reasonably designed to detect and report money 
laundering through correspondent accounts that covered U.S. financial 
institutions establish or maintain for certain foreign financial 
institutions.
    Current Action: Renewal without change to existing regulations.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Businesses and other for-profit institutions.
    Burden: Estimated Number of Respondents: 22,197.\2\
---------------------------------------------------------------------------

    \2\ This number includes depository institutions (14,087), 
broker-dealers in securities (5,100), future commission merchants 
(101), introducing brokers in commodities (1,249), and open end 
mutual funds (1,660), each as defined under the BSA.
---------------------------------------------------------------------------

    Estimated Number of Responses: 22,197.
    Estimated Number of Hours: 44,394. (Two hours per response).
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless it displays a valid 
control number assigned by the Office of Management and Budget 
(``OMB''). Records required to be retained under the BSA must be 
retained for five years. Generally, information collected pursuant to 
the BSA is confidential but may be shared as provided by law with 
regulatory and law enforcement authorities.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or 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 shall have 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 of 
information on respondents, including through the use of automated 
collection techniques or other forms of information

[[Page 65765]]

technology; and (e) estimates of capital or start-up costs and costs of 
operation, maintenance and purchase of services to provide information.

    Dated: October 21, 2013.
Jennifer Shasky Calvery,
Director, Financial Crimes Enforcement Network.
[FR Doc. 2013-25840 Filed 10-31-13; 8:45 am]
BILLING CODE 4810-2P-P