Agency Information Collection Activities; Proposed Renewal; Comment Request; Renewal Without Change of Recordkeeping and Termination of Correspondent Accounts for Foreign Banks, 42555-42556 [2018-18079]
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Federal Register / Vol. 83, No. 163 / Wednesday, August 22, 2018 / Notices
this information collection.1 In
response, the agency received three
comments, only one of which was
relevant to this collection.2
The Governors Highway Safety
Association (GHSA) expressed its
support for strong motorcycle helmet
labeling requirements, and submitted
information about motorcycle safety.
GHSA commented that this information
collection was ‘‘atypical’’ in their view.
GHSA explained that typically ICRs
involved the collection or submission of
information directly to the agency and
that while NHTSA spot checks the
performance of motorcycle helmets
through a compliance program, the
content of the label is more for the
benefit of consumers and law
enforcement.
GHSA is correct that a common type
of information collection under the
Paperwork Reduction Act (PRA) occurs
when an agency directly collects
information from the public. However, a
collection of information, as defined by
the PRA, means ‘‘the obtaining, causing
to be obtained, soliciting, or requiring
the disclosure to third parties or the
public, of facts or opinions by or for an
agency, regardless of form or format
. . .’’ 3 This labeling requirement
imposes a disclosure (label) to the
public, and is therefore covered by the
PRA. NHTSA has sought and received
PRA clearance for FMVSS No. 218
dating back to 1984.4 Therefore, NHTSA
believes no changes are necessary in
response to comments.
The following describes the collection
of information for which NHTSA
intends to seek OMB approval. It is
titled ‘‘Motorcycle Helmets (Labeling),’’
OMB Control Number: 2127–0518.
NHTSA’s existing collection for FMVSS
No. 218 expired during the 60 day
notice comment period, therefore the
agency has amended the type of request
to be a reinstatement of a previously
approved collection.
Title: Motorcycle Helmets (Labeling).
OMB Control Number: 2127–0518.
Type of Request: Reinstatement
without change of previously approved
collection of information.
Abstract: The National Traffic and
Motor Vehicle Safety Act, now codified
at 49 U.S.C. 30111, authorizes the
issuance of FMVSS. Moreover, under 49
U.S.C. 30117, the Secretary is also
authorized to require manufacturers to
provide information to first purchasers
1 83
FR 16431 (April 16, 2018).
Docket Number: NHTSA–
2018–0051.
3 44 U.S.C. 3502(3).
4 See: https://www.reginfo.gov/public/do/
PRAOMBHistory?ombControlNumber=2127-0518
(last accessed June 22, 2018).
2 www.regulations.gov.
VerDate Sep<11>2014
16:34 Aug 21, 2018
Jkt 244001
of motor vehicles or motor vehicle
equipment when the vehicle equipment
is purchased, in the form of printed
matter placed in the vehicle or attached
to the motor vehicle or motor vehicle
equipment. The Secretary is authorized
to issue, amend, and revoke such rules
and regulations as he/she deems
necessary.
Using this authority, the agency
issued the initial FMVSS No. 218 in
1974. Motorcycle helmets are devices
used to protect motorcyclists from head
injury in motor vehicle crashes. FMVSS
No. 218 S5.6 requires that each helmet
shall be labeled permanently and legibly
in a manner such that the label(s) can
be read easily without removing
padding or any other permanent part.
Affected Public: Motorcycle helmet
manufacturers.
Estimated Number of Respondents:
45.
Frequency: Every certified helmet
produced.
Number of Responses: 3,250,000.
Estimated Total Annual Burden
Hours: 9,100.
Estimated Total Annual Burden Cost:
$1,300,000 ($1.3 million).
The 45 respondents (helmet
manufacturers) produce a total of
3,250,000 annual responses. A
manufacturer spends approximately
0.0028 hours per response. The
estimated annual number of burden
hours for helmet manufacturers is 9,100
burden hours per year (3,250,000 ×
0.028 hours). Using a total labeling cost
of $0.40, the estimated total annual
burden cost is $1,300,000 (3,250,000 ×
$0.40).
Public Comments Invited: You are
asked to comment on any aspects of this
information collection, including: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
Department, including whether the
information will have practical utility;
(b) the accuracy of the Department’s
estimate of the burden of the proposed
information collection; (c) ways to
enhance the quality, utility and clarity
of the information to be collected; and
(d) ways to minimize the burden of the
collection of information on
respondents, including the use of
automated collection techniques or
other forms of information technology.
Authority: The Paperwork Reduction
Act of 1995, 44 U.S.C. Chapter 35, as
amended; and Delegation of Authority
at 49 CFR 1.95 and 501.8.
Raymond R. Posten,
Associate Administrator for Rulemaking.
[FR Doc. 2018–18052 Filed 8–21–18; 8:45 am]
BILLING CODE 4910–59–P
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42555
DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network
Agency Information Collection
Activities; Proposed Renewal;
Comment Request; Renewal Without
Change of Recordkeeping and
Termination of Correspondent
Accounts for Foreign Banks
Financial Crimes Enforcement
Network (‘‘FinCEN’’), U.S. Department
of the Treasury.
ACTION: Notice and request for
comments.
AGENCY:
FinCEN invites comment on
the renewal of information collections
in existing regulations requiring records
concerning owners of foreign banks and
agents of foreign banks for service of
legal process.
DATES: Written comments are welcome
and must be received on or before
October 22, 2018.
ADDRESSES: Comments may be
submitted by any of the following
methods:
• Federal E-rulemaking Portal: https://
www.regulations.gov. Follow the
instructions for submitting comments.
Refer to Docket Number FINCEN–2018–
0011 and the Office of Management and
Budget (‘‘OMB’’) control number 1506–
0043.
• Mail: Policy Division, Financial
Crimes Enforcement Network, P.O. Box
39, Vienna, VA 22183. Refer to Docket
Number FINCEN–2018–0011 and OMB
control number 1506–0043.
Please submit comments by one
method only. Comments will also be
incorporated to FinCEN’s retrospective
regulatory review process, as mandated
by E.O. 12866 and 13563. All comments
submitted in response to this notice will
become a matter of public record.
Therefore, you should submit only
information that you wish to make
publicly available.
FOR FURTHER INFORMATION CONTACT: The
FinCEN Resource Center at 800–767–
2825 or electronically at frc@fincen.gov.
SUPPLEMENTARY INFORMATION: The Bank
Secrecy Act (‘‘BSA’’), Titles I and II of
Public Law 91–508, as amended,
codified at 12 U.S.C. 1829(b), 12 U.S.C.
1951–1959, and 31 U.S.C. et seq.,
authorizes the Secretary of the Treasury,
among other things, to require financial
institutions to keep records and file
reports that are determined to have a
high degree of usefulness in criminal,
tax, and regulatory matters or in the
conduct of intelligence or counterintelligence activities to protect against
international terrorism, and to
implement counter-money laundering
SUMMARY:
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amozie on DSK3GDR082PROD with NOTICES1
42556
Federal Register / Vol. 83, No. 163 / Wednesday, August 22, 2018 / Notices
programs and compliance procedures.1
Title III of the USA PATRIOT Act of
2001, Public Law 107–56, included
certain amendments to the anti-money
laundering provisions of Title II of the
BSA, 31 U.S.C. 5311 et seq., which are
intended to aid in the prevention,
detection, and prosecution of
international money laundering and
terrorist financing.
Regulations implementing Title II of
the BSA appear at 31 CFR Chapter X.
The authority of the Secretary of the
Treasury to administer Title II of the
BSA has been delegated to the Director
of FinCEN. The information collected
and retained under the regulation
addressed in this notice assists Federal,
state, and local law enforcement as well
as regulatory authorities in the
identification, investigation and
prosecution of money laundering and
other matters.
This request for comments is being
made pursuant to the Paperwork
Reduction Act (‘‘PRA’’) of 1995, Public
Law 104–13, 44 U.S.C. 3506(c)(2)(A). In
accordance with the requirements of the
PRA and its implementing regulations,
the following information is presented
concerning the information collection
below.
Title: Correspondent Accounts for
Foreign Shell Banks; Recordkeeping and
Termination of Correspondent Accounts
for Foreign Banks (31 CFR 1010.630).
OMB Control Number: 1506–0043.
Abstract: Covered financial
institutions are prohibited from
maintaining correspondent accounts for
foreign shell banks (31 CFR
1010.630(a)(1)). Covered financial
institutions that maintain correspondent
accounts for foreign banks must
maintain records of owner(s) of the
foreign bank and the name and address
of a person residing in the United States
who is authorized to accept service of
legal process for the foreign bank (31
CFR 1010.630(a)(2)). Covered financial
institutions may satisfy these
requirements by using the sample
certification on the FinCEN website:
(https://www.fincen.gov/sites/default/
files/shared/Certification%20
Regarding%20Correspondent
%20Accounts%20for%20
Foreign%20Banks.pdf) and recertification (https://www.fincen.gov/
sites/default/files/shared/Recertification
%20Regarding%20Correspondent
%20Accounts%20for%20Foreign%20
1 Language expanding the scope of the BSA 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 Act of 2001,
Public Law 107–56.
VerDate Sep<11>2014
16:34 Aug 21, 2018
Jkt 244001
Banks.pdf). Records of documents relied
upon by a financial institution for
purposes of 31 CFR 1010.630 must be
maintained for at least five years after
the date that the financial institution no
longer maintains a correspondent
account for such foreign bank (31 CFR
1010.630(e)).
Current Action: Renewal without
change to the existing regulations.
Type of Review: Renewal without
change of a currently approved
collection.
Affected Public: Businesses and other
for-profit institutions.
Burden: It is estimated that 2,000
covered financial institutions maintain
correspondent accounts with 9,000
foreign banks. The estimated average
annual reporting burden associated with
certification is 180,000 hours (9,000
responses at 20 hours per response); the
estimated average annual reporting
burden associated with recertification is
45,000 hours (9,000 responses at 5 hours
per response); and the estimated average
recordkeeping burden associated with
section 1010.630(e) is 81,000 hours
(9,000 responses at 9 hours per
response).2 Total PRA burden for this
OMB Control number is 306,000 hours.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid OMB control number.
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
2 FinCEN does not have an independent method
to research the exact number of foreign bank
certifications and recertfications in any given year
because depository institutions do not file the
model form with FinCEN and only provide the data
upon FinCEN’s request. Accordingly, FinCEN has
chosen to take an expansive approach in its
estimates of yearly certifications and
recertifications.
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Fmt 4703
Sfmt 4703
information 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.
Jamal El-Hindi,
Deputy Director, Financial Crimes
Enforcement Network.
[FR Doc. 2018–18079 Filed 8–21–18; 8:45 am]
BILLING CODE 4810–02–P
DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network
Agency Information Collection
Activities; Proposed Renewal;
Comment Request; Renewal Without
Change of Suspicious Activity
Reporting Requirements by Brokers or
Dealers in Securities and Futures
Commission Merchants and
Introducing Brokers in Commodities
Financial Crimes Enforcement
Network (‘‘FinCEN’’), U.S. Department
of the Treasury.
AGENCY:
Notice and request for
comments.
ACTION:
FinCEN invites comment on
the renewal of an information collection
requirement for the recordkeeping and
reporting of suspicious activities by
brokers or dealers in securities and
futures commission merchants and
introducing brokers in commodities.
DATES: Written comments are welcome
and must be received on or before
October 22, 2018.
ADDRESSES: Comments may be
submitted by any of the following
methods:
• Federal E-rulemaking Portal: https://
www.regulations.gov. Follow the
instructions for submitting comments.
Refer to Docket Number FINCEN–2018–
0009 and OMB control number 1506–
0019.
• Mail: Policy Division, Financial
Crimes Enforcement Network, P.O. Box
39, Vienna, VA 22183. Refer to Docket
Number FINCEN–2018–0009 and OMB
control number 1506–0019.
Please submit comments by one
method only. Comments will also be
incorporated to FinCEN’s retrospective
regulatory review process, as mandated
by E.O. 12866 and 13563. All comments
submitted in response to this notice will
become a matter of public record.
Therefore, you should submit only
information that you wish to make
publicly available.
SUMMARY:
E:\FR\FM\22AUN1.SGM
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]]>Agencies
[Federal Register Volume 83, Number 163 (Wednesday, August 22, 2018)]
[Notices]
[Pages 42555-42556]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-18079]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network
Agency Information Collection Activities; Proposed Renewal;
Comment Request; Renewal Without Change of Recordkeeping and
Termination of Correspondent Accounts for Foreign Banks
AGENCY: Financial Crimes Enforcement Network (``FinCEN''), U.S.
Department of the Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: FinCEN invites comment on the renewal of information
collections in existing regulations requiring records concerning owners
of foreign banks and agents of foreign banks for service of legal
process.
DATES: Written comments are welcome and must be received on or before
October 22, 2018.
ADDRESSES: Comments may be submitted by any of the following methods:
Federal E-rulemaking Portal: https://www.regulations.gov.
Follow the instructions for submitting comments. Refer to Docket Number
FINCEN-2018-0011 and the Office of Management and Budget (``OMB'')
control number 1506-0043.
Mail: Policy Division, Financial Crimes Enforcement
Network, P.O. Box 39, Vienna, VA 22183. Refer to Docket Number FINCEN-
2018-0011 and OMB control number 1506-0043.
Please submit comments by one method only. Comments will also be
incorporated to FinCEN's retrospective regulatory review process, as
mandated by E.O. 12866 and 13563. All comments submitted in response to
this notice will become a matter of public record. Therefore, you
should submit only information that you wish to make publicly
available.
FOR FURTHER INFORMATION CONTACT: The FinCEN Resource Center at 800-767-
2825 or electronically at [email protected].
SUPPLEMENTARY INFORMATION: The Bank Secrecy Act (``BSA''), Titles I and
II of Public Law 91-508, as amended, codified at 12 U.S.C. 1829(b), 12
U.S.C. 1951-1959, and 31 U.S.C. et seq., authorizes the Secretary of
the Treasury, among other things, to require financial institutions to
keep records and file reports that are determined to have a high degree
of usefulness in criminal, tax, and regulatory matters or in the
conduct of intelligence or counter-intelligence activities to protect
against international terrorism, and to implement counter-money
laundering
[[Page 42556]]
programs and compliance procedures.\1\ Title III of the USA PATRIOT Act
of 2001, Public Law 107-56, included certain amendments to the anti-
money laundering provisions of Title II of the BSA, 31 U.S.C. 5311 et
seq., which are intended to aid in the prevention, detection, and
prosecution of international money laundering and terrorist financing.
---------------------------------------------------------------------------
\1\ Language expanding the scope of the BSA 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 Act of 2001, Public Law 107-56.
---------------------------------------------------------------------------
Regulations implementing Title II of the BSA appear at 31 CFR
Chapter X. The authority of the Secretary of the Treasury to administer
Title II of the BSA has been delegated to the Director of FinCEN. The
information collected and retained under the regulation addressed in
this notice assists Federal, state, and local law enforcement as well
as regulatory authorities in the identification, investigation and
prosecution of money laundering and other matters.
This request for comments is being made pursuant to the Paperwork
Reduction Act (``PRA'') of 1995, Public Law 104-13, 44 U.S.C.
3506(c)(2)(A). In accordance with the requirements of the PRA and its
implementing regulations, the following information is presented
concerning the information collection below.
Title: Correspondent Accounts for Foreign Shell Banks;
Recordkeeping and Termination of Correspondent Accounts for Foreign
Banks (31 CFR 1010.630).
OMB Control Number: 1506-0043.
Abstract: Covered financial institutions are prohibited from
maintaining correspondent accounts for foreign shell banks (31 CFR
1010.630(a)(1)). Covered financial institutions that maintain
correspondent accounts for foreign banks must maintain records of
owner(s) of the foreign bank and the name and address of a person
residing in the United States who is authorized to accept service of
legal process for the foreign bank (31 CFR 1010.630(a)(2)). Covered
financial institutions may satisfy these requirements by using the
sample certification on the FinCEN website: (https://www.fincen.gov/sites/default/files/shared/Certification%20Regarding%20Correspondent%20Accounts%20for%20Foreign%20Banks.pdf) and re-certification (https://www.fincen.gov/sites/default/files/shared/Recertification%20Regarding%20Correspondent%20Accounts%20for%20Foreign%20Banks.pdf). Records of documents relied upon by a financial
institution for purposes of 31 CFR 1010.630 must be maintained for at
least five years after the date that the financial institution no
longer maintains a correspondent account for such foreign bank (31 CFR
1010.630(e)).
Current Action: Renewal without change to the existing regulations.
Type of Review: Renewal without change of a currently approved
collection.
Affected Public: Businesses and other for-profit institutions.
Burden: It is estimated that 2,000 covered financial institutions
maintain correspondent accounts with 9,000 foreign banks. The estimated
average annual reporting burden associated with certification is
180,000 hours (9,000 responses at 20 hours per response); the estimated
average annual reporting burden associated with recertification is
45,000 hours (9,000 responses at 5 hours per response); and the
estimated average recordkeeping burden associated with section
1010.630(e) is 81,000 hours (9,000 responses at 9 hours per
response).\2\ Total PRA burden for this OMB Control number is 306,000
hours.
---------------------------------------------------------------------------
\2\ FinCEN does not have an independent method to research the
exact number of foreign bank certifications and recertfications in
any given year because depository institutions do not file the model
form with FinCEN and only provide the data upon FinCEN's request.
Accordingly, FinCEN has chosen to take an expansive approach in its
estimates of yearly certifications and recertifications.
---------------------------------------------------------------------------
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid OMB control number. 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 technology; and (e)
estimates of capital or start-up costs and costs of operation,
maintenance and purchase of services to provide information.
Jamal El-Hindi,
Deputy Director, Financial Crimes Enforcement Network.
[FR Doc. 2018-18079 Filed 8-21-18; 8:45 am]
BILLING CODE 4810-02-P
