Agency Information Collection Activities; Proposed Renewal: Comment Request; Renewal Without Change of Customer Identification Programs for Brokers or Dealers in Securities and Mutual Funds, 46011-46013 [2018-19656]

Download as PDF Federal Register / Vol. 83, No. 176 / Tuesday, September 11, 2018 / Notices Ground Floor at 1200 New Jersey Avenue SE, Washington, DC, between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. • Fax: Fax comments to Docket Operations at (202) 493–2251. Privacy: In accordance with 5 U.S.C. 553(c), DOT solicits comments from the public to better inform its rulemaking process. DOT posts these comments, without edit, including any personal information the commenter provides, to http://www.regulations.gov, as described in the system of records notice (DOT/ALL–14 FDMS), which can be reviewed at http://www.dot.gov/ privacy. Docket: Background documents or comments received may be read at http://www.regulations.gov at any time. Follow the online instructions for accessing the docket or go to the Docket Operations in Room W12–140 of the West Building Ground Floor at 1200 New Jersey Avenue SE, Washington, DC, between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. FOR FURTHER INFORMATION CONTACT: Clarence Garden (202) 267–7489, Office of Rulemaking, Federal Aviation Administration, 800 Independence Avenue SW, Washington, DC 20591. This notice is published pursuant to 14 CFR 11.85. Issued in Washington, DC, on September 5, 2018. Lirio Liu, Director, Office of Rulemaking. daltland on DSKBBV9HB2PROD with NOTICES Petition for Exemption Docket No.: FAA–2018–0603. Petitioner: Compass Airlines LLC. Section(s) of 14 CFR Affected: §§ 121.407(a)(1)(ii) and 121.439(a)(b). Description of Relief Sought: Compass Airlines LLC is seeking relief from 14 CFR 121.407(a)(1)(ii) to allow the use of a modified full flight simulator representing an Embraer 190 type airplane in conjunction with an Embraer 175 Integrated Procedures Trainer to provide training, checking and currency for pilots operating Embraer 175 type airplanes. Compass Airlines LLC is also seeking relief from §§ 121.439(a)(b) to allow a modified full flight simulator representing an Embraer 190 type airplane to be used to meet the recency of experience requirements for an Embraer 175 type airplane. [FR Doc. 2018–19711 Filed 9–10–18; 8:45 am] BILLING CODE 4910–13–P VerDate Sep<11>2014 18:49 Sep 10, 2018 Jkt 244001 DEPARTMENT OF TRANSPORTATION Federal Aviation Administration [Summary Notice No. 2018–71] Petition for Exemption; Summary of Petition Received; Aero-Flite, Inc. Federal Aviation Administration (FAA), Department of Transportation (DOT). ACTION: Notice. AGENCY: This notice contains a summary of a petition seeking relief from specified requirements of Federal Aviation Regulations. The purpose of this notice is to improve the public’s awareness of, and participation in, the FAA’s exemption process. Neither publication of this notice nor the inclusion or omission of information in the summary is intended to affect the legal status of the petition or its final disposition. SUMMARY: Comments on this petition must identify the petition docket number and must be received on or before October 1, 2018. ADDRESSES: Send comments identified by docket number {FAA–2018–0742} using any of the following methods: • Federal eRulemaking Portal: Go to http://www.regulations.gov and follow the online instructions for sending your comments electronically. • Mail: Send comments to Docket Operations, M–30; U.S. Department of Transportation, 1200 New Jersey Avenue SE, Room W12–140, West Building Ground Floor, Washington, DC 20590–0001. • Hand Delivery or Courier: Take comments to Docket Operations in Room W12–140 of the West Building Ground Floor at 1200 New Jersey Avenue SE, Washington, DC 20590– 0001, between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. • Fax: Fax comments to Docket Operations at (202) 493–2251. Privacy: In accordance with 5 U.S.C. 553(c), DOT solicits comments from the public to better inform its rulemaking process. DOT posts these comments, without edit, including any personal information the commenter provides, to http://www.regulations.gov, as described in the system of records notice (DOT/ALL–14 FDMS), which can be reviewed at http://www.dot.gov/ privacy. Docket: Background documents or comments received may be read at http://www.regulations.gov at any time. Follow the online instructions for accessing the docket or go to the Docket DATES: PO 00000 Frm 00137 Fmt 4703 Sfmt 4703 46011 Operations in Room W12–140 of the West Building Ground Floor at 1200 New Jersey Avenue SE, Washington, DC 20590–0001, between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. FOR FURTHER INFORMATION CONTACT: Clarence Garden (202) 267–7489, Office of Rulemaking, Federal Aviation Administration, 800 Independence Avenue SW, Washington, DC 20591. This notice is published pursuant to 14 CFR 11.85. Issued in Washington, DC, on September 5, 2018. Lirio Liu, Executive Director, Office of Rulemaking. Petition for Exemption Docket No.: FAA–2018–0742. Petitioner: Aero-Flite, Inc. Section(s) of 14 CFR Affected: 91.213. Description of Relief Sought: AeroFlite, Inc. (Aero-Flite) is seeking exemption for relief from the requirement in § 91.213 that no person may take off an aircraft with inoperative instruments or equipment installed unless, among other things, an approved Minimum Equipment List (MEL) exists for that aircraft. Aero-Flite notes that an MEL does not exist for the CL–415 aircraft that it operations. As such, Aero-Flite cannot operate such aircraft unless all instruments and equipment are operative at all times. Under the relief requested, Aero-Flite would conduct a risk assessment to determine if an inoperative instrument or equipment could be deferred and operations continued. [FR Doc. 2018–19712 Filed 9–10–18; 8:45 am] BILLING CODE 4910–13–P DEPARTMENT OF THE TREASURY Financial Crimes Enforcement Network Agency Information Collection Activities; Proposed Renewal: Comment Request; Renewal Without Change of Customer Identification Programs for Brokers or Dealers in Securities and Mutual Funds Financial Crimes Enforcement Network (‘‘FinCEN’’), U.S. Department of the Treasury. ACTION: Notice and request for comments. AGENCY: FinCEN invites comment on a proposed renewal, without change, to information collections found in regulations requiring brokers or dealers in securities and mutual funds to develop and implement customer identification programs designed to SUMMARY: E:\FR\FM\11SEN1.SGM 11SEN1 daltland on DSKBBV9HB2PROD with NOTICES 46012 Federal Register / Vol. 83, No. 176 / Tuesday, September 11, 2018 / Notices allow the covered financial institution to form a reasonable belief that it knows the true identity of each customer. This request for comment is being made pursuant to the Paperwork Reduction Act (‘‘PRA’’) of 1995. DATES: Written comments are welcome and must be received on or before November 13, 2018. ADDRESSES: Comments may be submitted by any of the following methods: • Federal E-rulemaking Portal: http:// www.regulations.gov. Follow the instructions for submitting comments. Refer to Docket Number FINCEN–2018– 0015 and the Office of Management and Budget (‘‘OMB’’) control number of the information collection(s) you wish to comment on (OMB control numbers 1506–0033 and/or 1506–0034). • Mail: Policy Division, Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183. Refer to Docket Number FINCEN–2018–0015 and the OMB control number of the information collection(s) you wish to comment on (OMB control numbers 1506–0033 and/ or 1506–0034). 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. 5311–5314 and 5316–5332, 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 countermoney laundering programs and compliance procedures.1 Title III of the USA PATRIOT Act of 2001, Public Law 107–56, included certain amendments 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 18:49 Sep 10, 2018 Jkt 244001 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 assist Federal, state, and local law enforcement as well as regulatory authorities in the identification, investigation and prosecution of money laundering and other matters. Section 5318(l) of the BSA requires FinCEN to issue regulations prescribing customer identification programs for financial institutions. Those regulations, at a minimum, must require financial institutions implement reasonable procedures for (1) verifying the identity of any person seeking to open an account, to the extent reasonable and practicable; (2) maintaining records of the information used to verify the person’s identity, including name, address, and other identifying information; and (3) determining whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the financial institution by any government agency. The regulations are to take into consideration the various types of accounts maintained by various types of financial institutions, the various methods of opening accounts, and the various types of identifying information available. Regulations implementing section 5318(l) with respect to brokers or dealers in securities and mutual funds are found at 31 CFR 1023.220 and 1024.220, respectively. In accordance with the requirements of the PRA and its implementing regulations, the following information is presented concerning the information collection below. 1. Title: Customer Identification Program for Brokers or Dealers in Securities (31 CFR 1023.220). OMB Control Number: 1506–0034. Abstract: Brokers or dealers in securities are required to establish and maintain customer identification programs and provide their customers with notice of the programs. (See 68 FR 25113, May 9, 2003). Current Action: Renewal without change to existing regulations. Type of Review: Renewal of a currently approved information collection. PO 00000 Frm 00138 Fmt 4703 Sfmt 4703 Affected Public: Business and other for-profit institutions. Burden: • Estimated Number of Respondents: 3,839.2 • Estimated Number of Responses: 9,000,000 new brokers or dealers in securities accounts opened annually.3 • Estimated Average Annual Burden per Response: The estimated average burden associated with fulfilling the requirements of this rule is 2 minutes per response.4 • Estimated Total Annual Respondent Burden: 300,000 hours.5 2. Title: Customer Identification Programs for Mutual Funds (31 CFR 1024.220). OMB Control Number: 1506–0033. Abstract: Mutual funds are required to implement and maintain customer identification programs and provide their customers with notice of the programs. (See 68 FR 25131, May 9, 2003). Current Action: Renewal without change to existing regulations. Type of Review: Renewal of a currently approved information collection. Affected Public: Business and other for-profit institutions. Burden: • Estimated Number of Respondents: 1,591.6 • Estimated Number of Responses: 20,000,000 new mutual fund accounts opened annually.7 • Estimated Average Annual Burden per Response: The estimated average burden associated with fulfilling the requirements of this rule is 2 minutes per response.8 • Estimated Total Annual Respondent Burden: 666,667 hours.9 An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information 2 This number was provided to FinCEN by the U.S. Securities and Exchange Commission (‘‘SEC’’), and is based on forms filed with the SEC in 2017. 3 This number was provided to FinCEN by the SEC, and is based on forms filed with the SEC in 2017. 4 FinCEN did not receive comments on the previous estimate of 2 minutes of burden per response. 5 9 million responses multiplied by 2 minutes per responses converted to hours equals 300,000 hours. 6 This number was provided to FinCEN by the SEC, and is based on forms filed with the SEC in 2017. 7 This estimate was provided to FinCEN by the SEC, and is based on publicly available information as of 2017. 8 FinCEN did not receive comments on the previous estimate of 2 minutes of burden per response. 9 20 million responses multiplied by 2 minutes per responses converted to hours equals 666,667 hours. E:\FR\FM\11SEN1.SGM 11SEN1 Federal Register / Vol. 83, No. 176 / Tuesday, September 11, 2018 / Notices 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. 2018–19656 Filed 9–10–18; 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 the Report of International Transportation of Currency or Monetary Instruments 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 an information collection requirement concerning the Report of International Transportation of Currency or Monetary Instruments (‘‘CMIR’’). This request for comment is being made pursuant to the Paperwork Reduction Act of 1995. DATES: Written comments are welcome and must be received on or before November 13, 2018. daltland on DSKBBV9HB2PROD with NOTICES SUMMARY: VerDate Sep<11>2014 18:49 Sep 10, 2018 Jkt 244001 Comments may be submitted by any of the following methods: • Federal E-rulemaking Portal: http:// www.regulations.gov. Follow the instructions for submitting comments. Refer to Docket Number FINCEN–2018– 0012 and the specific Office of Management and Budget (‘‘OMB’’) control number 1506–0014. • Mail: Policy Division, Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183. Refer to Docket Number FINCEN–2018–0012 and OMB control number 1506–0014. 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 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 assist Federal, state, and local law enforcement as well ADDRESSES: 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. PO 00000 Frm 00139 Fmt 4703 Sfmt 4703 46013 as regulatory authorities in the identification, investigation and prosecution of money laundering and other matters. In accordance with the requirements of the PRA and its implementing regulations, the following information is presented concerning the information collection below. Title: Report of Transportation of Currency or Monetary Instruments. (31 CFR 1010.340.) OMB Control Number: 1506–0014. Form Number: FinCEN Form 105, Report of International Transportation of Currency or Monetary Instruments. A copy of the form may be obtained from the FinCEN website at https:// www.fincen.gov/sites/default/files/ shared/fin105_cmir.pdf. Abstract: Pursuant to the BSA, the requirement of 31 U.S.C. 5316(a) has been implemented through a regulation promulgated at 31 CFR 1010.340 and through the instructions for the CMIR as follows: (1) Each person who physically transports, mails, or ships, or causes to be physically transported, mailed, or shipped currency or other monetary instruments in an aggregate amount exceeding $10,000 at one time from the United States to any place outside the United States or into the United States from any place outside the United States, and (2) Each person who receives in the United States currency or other monetary instruments in an aggregate amount exceeding $10,000 at one time which have been transported, mailed, or shipped to the person from any place outside the United States. A transfer of funds through normal banking procedures, which does not involve the physical transportation of currency or monetary instruments, is not required to be reported on the CMIR. Information collected on the CMIR is made available, in accordance with strict safeguards, to appropriate criminal law enforcement and regulatory personnel in the official performance of their duties. The information collected is of use in investigations involving international and domestic money laundering, tax evasion, fraud, and other financial crimes. Current Actions: Renewal without change to the existing regulations. Type of Review: Renewal without change of a currently approved information collection. Affected Public: Individuals, business or other for-profit institutions, and notfor-profit institutions. Frequency: As required. E:\FR\FM\11SEN1.SGM 11SEN1

Agencies

[Federal Register Volume 83, Number 176 (Tuesday, September 11, 2018)]
[Notices]
[Pages 46011-46013]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-19656]


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DEPARTMENT OF THE TREASURY

Financial Crimes Enforcement Network


Agency Information Collection Activities; Proposed Renewal: 
Comment Request; Renewal Without Change of Customer Identification 
Programs for Brokers or Dealers in Securities and Mutual Funds

AGENCY: Financial Crimes Enforcement Network (``FinCEN''), U.S. 
Department of the Treasury.

ACTION: Notice and request for comments.

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

SUMMARY: FinCEN invites comment on a proposed renewal, without change, 
to information collections found in regulations requiring brokers or 
dealers in securities and mutual funds to develop and implement 
customer identification programs designed to

[[Page 46012]]

allow the covered financial institution to form a reasonable belief 
that it knows the true identity of each customer. This request for 
comment is being made pursuant to the Paperwork Reduction Act (``PRA'') 
of 1995.

DATES: Written comments are welcome and must be received on or before 
November 13, 2018.

ADDRESSES: Comments may be submitted by any of the following methods:
     Federal E-rulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments. Refer to Docket Number 
FINCEN-2018-0015 and the Office of Management and Budget (``OMB'') 
control number of the information collection(s) you wish to comment on 
(OMB control numbers 1506-0033 and/or 1506-0034).
     Mail: Policy Division, Financial Crimes Enforcement 
Network, P.O. Box 39, Vienna, VA 22183. Refer to Docket Number FINCEN-
2018-0015 and the OMB control number of the information collection(s) 
you wish to comment on (OMB control numbers 1506-0033 and/or 1506-
0034).
    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. 5311-5314 and 5316-5332, 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 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 assist Federal, state, and local law enforcement as well as 
regulatory authorities in the identification, investigation and 
prosecution of money laundering and other matters.
    Section 5318(l) of the BSA requires FinCEN to issue regulations 
prescribing customer identification programs for financial 
institutions. Those regulations, at a minimum, must require financial 
institutions implement reasonable procedures for (1) verifying the 
identity of any person seeking to open an account, to the extent 
reasonable and practicable; (2) maintaining records of the information 
used to verify the person's identity, including name, address, and 
other identifying information; and (3) determining whether the person 
appears on any lists of known or suspected terrorists or terrorist 
organizations provided to the financial institution by any government 
agency. The regulations are to take into consideration the various 
types of accounts maintained by various types of financial 
institutions, the various methods of opening accounts, and the various 
types of identifying information available. Regulations implementing 
section 5318(l) with respect to brokers or dealers in securities and 
mutual funds are found at 31 CFR 1023.220 and 1024.220, respectively.
    In accordance with the requirements of the PRA and its implementing 
regulations, the following information is presented concerning the 
information collection below.
    1. Title: Customer Identification Program for Brokers or Dealers in 
Securities (31 CFR 1023.220).
    OMB Control Number: 1506-0034.
    Abstract: Brokers or dealers in securities are required to 
establish and maintain customer identification programs and provide 
their customers with notice of the programs. (See 68 FR 25113, May 9, 
2003).
    Current Action: Renewal without change to existing regulations.
    Type of Review: Renewal of a currently approved information 
collection.
    Affected Public: Business and other for-profit institutions.
    Burden:
     Estimated Number of Respondents: 3,839.\2\
---------------------------------------------------------------------------

    \2\ This number was provided to FinCEN by the U.S. Securities 
and Exchange Commission (``SEC''), and is based on forms filed with 
the SEC in 2017.
---------------------------------------------------------------------------

     Estimated Number of Responses: 9,000,000 new brokers or 
dealers in securities accounts opened annually.\3\
---------------------------------------------------------------------------

    \3\ This number was provided to FinCEN by the SEC, and is based 
on forms filed with the SEC in 2017.
---------------------------------------------------------------------------

     Estimated Average Annual Burden per Response: The 
estimated average burden associated with fulfilling the requirements of 
this rule is 2 minutes per response.\4\
---------------------------------------------------------------------------

    \4\ FinCEN did not receive comments on the previous estimate of 
2 minutes of burden per response.
---------------------------------------------------------------------------

     Estimated Total Annual Respondent Burden: 300,000 
hours.\5\
---------------------------------------------------------------------------

    \5\ 9 million responses multiplied by 2 minutes per responses 
converted to hours equals 300,000 hours.
---------------------------------------------------------------------------

    2. Title: Customer Identification Programs for Mutual Funds (31 CFR 
1024.220).
    OMB Control Number: 1506-0033.
    Abstract: Mutual funds are required to implement and maintain 
customer identification programs and provide their customers with 
notice of the programs. (See 68 FR 25131, May 9, 2003).
    Current Action: Renewal without change to existing regulations.
    Type of Review: Renewal of a currently approved information 
collection.
    Affected Public: Business and other for-profit institutions.
    Burden:
     Estimated Number of Respondents: 1,591.\6\
---------------------------------------------------------------------------

    \6\ This number was provided to FinCEN by the SEC, and is based 
on forms filed with the SEC in 2017.
---------------------------------------------------------------------------

     Estimated Number of Responses: 20,000,000 new mutual fund 
accounts opened annually.\7\
---------------------------------------------------------------------------

    \7\ This estimate was provided to FinCEN by the SEC, and is 
based on publicly available information as of 2017.
---------------------------------------------------------------------------

     Estimated Average Annual Burden per Response: The 
estimated average burden associated with fulfilling the requirements of 
this rule is 2 minutes per response.\8\
---------------------------------------------------------------------------

    \8\ FinCEN did not receive comments on the previous estimate of 
2 minutes of burden per response.
---------------------------------------------------------------------------

     Estimated Total Annual Respondent Burden: 666,667 
hours.\9\
---------------------------------------------------------------------------

    \9\ 20 million responses multiplied by 2 minutes per responses 
converted to hours equals 666,667 hours.
---------------------------------------------------------------------------

    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information

[[Page 46013]]

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. 2018-19656 Filed 9-10-18; 8:45 am]
 BILLING CODE 4810-02-P