FinCEN's Innovation Initiative: Implementation of FinCEN Innovation Hours; Invitation To Request Innovation Hours Meeting, 25120-25122 [2019-11314]

Download as PDF 25120 Federal Register / Vol. 84, No. 104 / Thursday, May 30, 2019 / Notices DEPARTMENT OF TRANSPORTATION Department of Transportation Advisory Committee on Human Trafficking; Notice of Public Meeting Office of the Secretary of Transportation, Department of Transportation. ACTION: Notice of public meeting. AGENCY: This notice announces a meeting of the Department of Transportation Advisory Committee on Human Trafficking. DATES: The meeting will be held on June 17, 2019, from 2:00 p.m. to 5:00 p.m. EDT. SUMMARY: The meeting will be held via teleconference. Any person requesting accessibility accommodations should contact the Official listed in the next section. FOR FURTHER INFORMATION CONTACT: Nicole L. Bambas, Senior Advisor, Office of International Transportation and Trade, U.S. Department of Transportation, at trafficking@dot.gov or (202) 366–5058. Also visit the ACHT internet website at https:// www.transportation.gov/ stophumantrafficking/acht. SUPPLEMENTARY INFORMATION: ADDRESSES: I. Background The Advisory Committee on Human Trafficking (ACHT) was created in accordance with Section 5 of the Combating Human Trafficking in Commercial Vehicles Act (Pub. L. 115– 99) to make recommendations to the Secretary of Transportation on actions the Department can take to help combat human trafficking, and to develop recommended best practices for States and State and local transportation stakeholders in combatting human trafficking. jbell on DSK3GLQ082PROD with NOTICES II. Agenda At the June 17, 2019, meeting, the agenda will cover the following topics: • Welcome • Review of the ACHT Process • Overview of the ACHT Final Report • Public Comment • Motion to Approve Final ACHT Report • Closing A final agenda will be posted on the ACHT internet website at https:// www.transportation.gov/stophuman trafficking/acht at least one week in advance of the meeting. to participate in the teleconference are asked to register via email by submitting their name and affiliation to trafficking@ dot.gov by June 3, 2019. The US Department of Transportation is committed to providing equal access to this meeting for all participants. If you need alternative formats or services because of a disability, please contact Nicole Bambas at 202–366–5058 or via email at (trafficking@dot.gov) with your request by close of business on June 3, 2019. There will be 30 minutes allotted for oral comments from members of the public joining the meeting. To accommodate as many speakers as possible, the time for each commenter may be limited. Individuals wishing to reserve speaking time during the meeting must submit a request at the time of registration, as well as the name, address, and organizational affiliation of the proposed speaker. If the number of registrants requesting to make statements is greater than can be reasonably accommodated during the meeting, the Office of the Secretary may conduct a lottery to determine the speakers. Speakers are requested to submit a written copy of their prepared remarks by 5:00 p.m. EDT on June 3, 2019, for inclusion in the meeting records and for circulation to ACHT members. All prepared remarks submitted on time will be accepted and considered as part of the record. Persons who wish to submit written comments for consideration by ACHT during the meeting must submit them no later than 5:00 p.m. EDT on June 3, 2019, to ensure transmission to ACHT members prior to the meeting. Comments received after that date and time will be distributed to the members but may not be reviewed prior to the meeting. Copies of the meeting minutes will be available on the ACHT internet website at https://www.transportation.gov/ stophumantrafficking/acht. Dated: May 20, 2019. Joel Szabat, Assistant Secretary, Aviation and International Affairs. [FR Doc. 2019–11277 Filed 5–29–19; 8:45 am] BILLING CODE 4910–9X–P DEPARTMENT OF THE TREASURY Financial Crimes Enforcement Network FinCEN’s Innovation Initiative: Implementation of FinCEN Innovation Hours; Invitation To Request Innovation Hours Meeting Financial Crimes Enforcement Network (‘‘FinCEN’’), U.S. Department of the Treasury. ACTION: Notice. AGENCY: FinCEN, a bureau of the Department of the Treasury, is notifying the public of its Innovation Hours Program. Through the Program, FinCEN will provide dedicated time on a monthly basis to meet with financial institutions, regulatory and financial technology firms, and other stakeholders to enable them to share information with FinCEN about innovative approaches to evaluating, maintaining and reporting information under the Bank Secrecy Act in order to further strengthen the financial system against illicit financial activity. The FinCEN Innovation Hours Program is a cornerstone of a broader FinCEN Innovation Initiative highlighted within the Joint FinCEN-Federal Banking Agency Statement on Innovation (December 3, 2018).1 The FinCEN Innovation Initiative seeks to promote innovation by supporting, where appropriate and feasible, innovation pilot programs, and enhanced feedback and information sharing programs. In addition, FinCEN will consider for future implementation the feasibility of incorporating demonstration and application testing capabilities to facilitate the development of innovative solutions to Anti-Money Laundering/ Countering the Financing of Terrorism (AML/CFT) challenges. This notice will be in the Federal Erulemaking Portal: https:// www.regulations.gov. Refer to Docket Number FinCEN–2019–0001. DATES: Effective Date: FinCEN Innovation Hours Program will begin effective May 30, 2019. ADDRESSES: Stakeholders must submit meeting requests using the request form and questionnaire available on the Innovation Initiative web page [https:// www.fincen.gov/resources/fincensinnovation-hours-program]. FOR FURTHER INFORMATION CONTACT: The FinCEN Resource Center at 800–767– 2825 or electronically at FRC@ fincen.gov. SUMMARY: III. Public Participation 1 See https://www.fincen.gov/news/news-releases/ treasurys-fincen-and-federal-banking-agenciesissue-joint-statement-encouraging. The meeting will be open to the public. Members of the public who wish VerDate Sep<11>2014 18:08 May 29, 2019 Jkt 247001 PO 00000 Frm 00093 Fmt 4703 Sfmt 4703 E:\FR\FM\30MYN1.SGM 30MYN1 Federal Register / Vol. 84, No. 104 / Thursday, May 30, 2019 / Notices SUPPLEMENTARY INFORMATION: I. Background jbell on DSK3GLQ082PROD with NOTICES FinCEN launched an Innovation Initiative to foster a better understanding of the opportunities and challenges of Bank Secrecy Act (BSA) and AML-related innovation in the financial services sector. FinCEN recognizes that private sector innovation, either by new ways of using existing tools or by adopting new technologies, has the potential to enhance financial institutions’ BSA/ AML compliance programs. This includes aspects involving risk identification, transaction monitoring, and suspicious activity reporting as well as otherwise improving the BSA/AML framework by making valuable information available to law enforcement. When responsibly employed, these enhancements can be an important element in safeguarding the U.S. financial system against an evolving array of threats. FinCEN’s Innovation Initiative, highlighted within the Joint FinCEN-Federal Banking Agency Statement on Innovation (December 3, 2018), includes the FinCEN Innovation Hours Program, consideration of exceptive relief, where necessary and appropriate to facilitate innovative solutions to AML/CFT compliance challenges, and ongoing efforts to identify ways to enhance existing feedback and information sharing programs. FinCEN is considering plans to further expand this initiative in the longer-term by establishing demonstration and application testing capabilities for innovative AML/CFT solutions. FinCEN will also consider the feasibility of sponsoring ‘‘Tech Sprints’’ to facilitate the development of innovative solutions to AML/CFT challenges in the longerterm.2 To continue to better understand regulatory and financial technology developments involving AML and CFT, FinCEN has met with financial institutions, technology companies, payments processors, regulators and other stakeholders focusing on innovation. A common theme emerging from these discussions is the desire by financial services stakeholders to have greater direct engagement with policymakers and regulators to discuss 2 Tech Sprints are events hosted by government, private-sector, and/or non-profit organizations or academic institutions that bring together representatives from all those sectors to collaboratively identify potential technological or other solutions to a particular problem or issue. FinCEN is considering the feasibility of hosting such events in the future that would focus on specific AML/CFT challenges or issues. VerDate Sep<11>2014 18:08 May 29, 2019 Jkt 247001 or demonstrate innovative financial products and services and compliance solutions. At the same time, industry engagement educates policymakers and regulators about new and emerging financial technology (‘‘FinTech’’) and regulatory technology (‘‘RegTech’’) business models and operating environments, as well as other innovative approaches to compliance. Such understanding helps to inform potential ways to improve the effectiveness and efficiency of the AML/ CFT regulatory framework to make more valuable information to law enforcement and to better protect the U.S. financial system. II. Innovation Hours To advance FinCEN’s Innovation Initiative, FinCEN will host Innovation Hours for financial institutions, technology providers, and other firms involved in financial services to discuss and showcase their innovative products, services and approaches. FinCEN intends for this engagement to benefit both the private sector and government. Industry would share information about specific innovations and the potential opportunities and challenges. As part of the Innovation Hours, FinCEN will provide FinTech and RegTech companies, financial institutions and other stakeholders opportunities to demonstrate their new and emerging technologies and innovative products and services. Such demonstrations would be aimed primarily at educating FinCEN and other government participants about how the innovations operate and can enhance BSA/AML compliance to provide for more effective and efficient reporting and recordkeeping or otherwise improve the value of information collected and analyzed under the BSA framework. Innovation Hours will be held primarily at FinCEN offices in Washington, DC or Vienna, VA on a monthly basis, but they may also be conducted in other locations, as well as virtually, as appropriate. Innovation Hours will generally be scheduled for one hour per eligible requester. Depending on the demand or other factors, FinCEN may not be able to grant all requests. Those participating in Innovation Hours will not be compensated or reimbursed for their time, services, or travel. A. Eligibility Unless otherwise authorized by FinCEN, to participate in the Innovation Hours Program, FinCEN requires at a minimum that: (i) The requester provide or use financial or regulatory products or PO 00000 Frm 00094 Fmt 4703 Sfmt 4703 25121 services that comply with BSA regulations or are intended to enhance compliance with U.S. regulations. (ii) The presentation or demonstration address how such products or services, or innovative uses of existing tools, can enhance financial institutions’ BSA/ AML compliance programs, including, for example, aspects involving risk identification, transaction monitoring, and suspicious activity reporting or otherwise improve the effectiveness and efficiency of the AML/CFT framework to make more valuable information available to law enforcement to better protect the U.S. financial system. (iii) Products are in production or ready for deployment. (iv) The company is not the subject of an ongoing federal or other criminal or civil enforcement action for BSA/AML deficiencies. FinCEN does not generally anticipate accepting requests from entities whose innovations are in the conceptual or nascent stages of development. FinCEN will meet with consultants or legal service providers to eligible companies through the Innovation Hours Program only to the extent that such consultants or legal service providers are representing an entity otherwise eligible to request a meeting under the criteria listed above. B. Limitations Discussions occurring in the context of the FinCEN Innovation Hours Program do not constitute a formal agency position and are non-binding on participants. Participation in the Innovation Hours Program does not constitute a U.S. government recommendation, endorsement, or approval of any company innovation, product, service or approach. In addition, FinCEN does not, and will not, through FinCEN’s Innovation Initiative, approve, provide advice, or opine on: Æ Any specific business model; Æ What products or services a firm can or should provide; or Æ How a company should structure their operations or compliance program. C. Process for Requesting Innovation Hours Companies interested in seeking engagement with FinCEN through the Innovation Hours Program should complete and submit a request form and questionnaire as instructed on the Innovation Initiative web page located at [https://www.fincen.gov/resources/ fincens-innovation-hours-program]. The request form and questionnaire requires participants to provide background information on the firm’s business and the requested discussion topics. FinCEN E:\FR\FM\30MYN1.SGM 30MYN1 25122 Federal Register / Vol. 84, No. 104 / Thursday, May 30, 2019 / Notices may, however, seek additional information as appropriate to enable an informed review of the request. Please note that contacting FinCEN to request a meeting will be viewed as a representation that your firm understands and will comply with the parameters for such engagement outlined in the Frequently Asked Questions published on the Innovation Initiative web page [https:// www.fincen.gov/resources/fincensinnovation-hours-program/faq]. D. General Compliance Questions Although general compliance or other questions may come up during Innovation Hours, such questions should not be the purpose of the meeting. Companies with general questions regarding the BSA and its implementing regulations should contact the FinCEN Resource Center (FRC) at 1–800–767–2825 or FRC@ fincen.gov. Jamal El-Hindi, Deputy Director, Financial Crimes Enforcement Network. [FR Doc. 2019–11314 Filed 5–29–19; 8:45 am] BILLING CODE 4810–02–P DEPARTMENT OF THE TREASURY Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple Internal Revenue Service Information Collection Requests Departmental Offices, U.S. Department of the Treasury. ACTION: Notice. AGENCY: The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests. DATES: Comments should be received on or before July 1, 2019 to be assured of consideration. ADDRESSES: Send comments regarding the burden estimate, or any other aspect of the information collection, including suggestions for reducing the burden, to (1) Office of Information and Regulatory Affairs, Office of Management and Budget, Attention: Desk Officer for Treasury, New Executive Office Building, Room 10235, Washington, DC 20503, or email at OIRA_Submission@ OMB.EOP.gov and (2) Treasury PRA Clearance Officer, 1750 Pennsylvania jbell on DSK3GLQ082PROD with NOTICES SUMMARY: VerDate Sep<11>2014 18:08 May 29, 2019 Jkt 247001 Ave. NW, Suite 8100, Washington, DC 20220, or email at PRA@treasury.gov. FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be obtained from Jennifer Quintana by emailing PRA@treasury.gov, calling (202) 622–0489, or viewing the entire information collection request at www.reginfo.gov. SUPPLEMENTARY INFORMATION: Internal Revenue Service (IRS) 1. Title: Recapture of Investment Credit. OMB Control Number: 1545–0166. Type of Review: Revision of a currently approved collection. Description: IRC section 50(a) and Regulation section 1.47 require that taxpayers attach a statement to their return showing the computation of the recapture tax when investment credit property is disposed of before the end of the recapture period used in the original computation of the investment credit. Form: 4255. Affected Public: Businesses or other for-profits. Estimated Number of Respondents: 1,320. Frequency of Response: On occasion. Estimated Total Number of Annual Responses: 1,320. Estimated Time per Response: 9.81 hours. Estimated Total Annual Burden Hours: 12,949. 2. Title: Tax on Accumulation Distribution of Trusts. OMB Control Number: 1545–0192. Type of Review: Extension without change of a currently approved collection. Description: Form 4970 is used by a beneficiary of a domestic or foreign trust to compute the tax adjustment attributable to an accumulation distribution. The form is used to verify whether the correct tax has been paid on the accumulation distribution. Form: 4970. Affected Public: Individuals and households. Estimated Number of Respondents: 30,000. Frequency of Response: Annually. Estimated Total Number of Annual Responses: 30,000. Estimated Time per Response: 1.43 hours. Estimated Total Annual Burden Hours: 42,900. 3. Title: Election to Postpone Determination as to whether the Presumption Applies that an activity is engaged in for profit. OMB Control Number: 1545–0195. PO 00000 Frm 00095 Fmt 4703 Sfmt 4703 Type of Review: Extension without change of a currently approved collection. Description: This form is used by individuals, partnerships, estates, trusts, and S corporations to make an election to postpone an IRS determination as to whether an activity is engaged in for profit for 5 years (7 years for breeding, training, showing, or racing horses). The data is used to verify eligibility to make the election. Form: 5213. Affected Public: Businesses or other for-profits. Estimated Number of Respondents: 3,541. Frequency of Response: On occasion. Estimated Total Number of Annual Responses: 3,541. Estimated Time per Response: 46 minutes. Estimated Total Annual Burden Hours: 2,762. 4. Title: Installment Sale Income. OMB Control Number: 1545–0228. Type of Review: Extension without change of a currently approved collection. Description: Information is needed to figure and report an installment sale for a casual or incidental sale of personal property, and a sale of real property by someone not in the business of selling real estate. Data is used to determine whether the installment sale has been properly reported and the correct amount of profit is included in income on the taxpayer’s return. Form: 6252. Affected Public: Businesses or other for-profits. Estimated Number of Respondents: 521,898. Frequency of Response: Annually. Estimated Total Number of Annual Responses: 521,898. Estimated Time per Response: 3 hours. Estimated Total Annual Burden Hours: 1,597,008. 5. Title: Certificate of Payment of Foreign Death Tax. OMB Control Number: 1545–0260. Type of Review: Extension without change of a currently approved collection. Description: Form 706–CE is used by the executors of estates to certify that foreign death taxes have been paid so that the estate may claim the foreign death tax credit allowed by IRS section 2014. The information is used by IRS to verify that the proper tax credit has been claimed. Form: 706–CE. Affected Public: Individuals and households. Estimated Number of Respondents: 2,250. E:\FR\FM\30MYN1.SGM 30MYN1

Agencies

[Federal Register Volume 84, Number 104 (Thursday, May 30, 2019)]
[Notices]
[Pages 25120-25122]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-11314]


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DEPARTMENT OF THE TREASURY

Financial Crimes Enforcement Network


FinCEN's Innovation Initiative: Implementation of FinCEN 
Innovation Hours; Invitation To Request Innovation Hours Meeting

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

ACTION: Notice.

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

SUMMARY: FinCEN, a bureau of the Department of the Treasury, is 
notifying the public of its Innovation Hours Program. Through the 
Program, FinCEN will provide dedicated time on a monthly basis to meet 
with financial institutions, regulatory and financial technology firms, 
and other stakeholders to enable them to share information with FinCEN 
about innovative approaches to evaluating, maintaining and reporting 
information under the Bank Secrecy Act in order to further strengthen 
the financial system against illicit financial activity. The FinCEN 
Innovation Hours Program is a cornerstone of a broader FinCEN 
Innovation Initiative highlighted within the Joint FinCEN-Federal 
Banking Agency Statement on Innovation (December 3, 2018).\1\ The 
FinCEN Innovation Initiative seeks to promote innovation by supporting, 
where appropriate and feasible, innovation pilot programs, and enhanced 
feedback and information sharing programs. In addition, FinCEN will 
consider for future implementation the feasibility of incorporating 
demonstration and application testing capabilities to facilitate the 
development of innovative solutions to Anti-Money Laundering/Countering 
the Financing of Terrorism (AML/CFT) challenges.
---------------------------------------------------------------------------

    \1\ See https://www.fincen.gov/news/news-releases/treasurys-fincen-and-federal-banking-agencies-issue-joint-statement-encouraging.
---------------------------------------------------------------------------

    This notice will be in the Federal E-rulemaking Portal: https://www.regulations.gov. Refer to Docket Number FinCEN-2019-0001.

DATES: Effective Date: FinCEN Innovation Hours Program will begin 
effective May 30, 2019.

ADDRESSES: Stakeholders must submit meeting requests using the request 
form and questionnaire available on the Innovation Initiative web page 
[https://www.fincen.gov/resources/fincens-innovation-hours-program].

FOR FURTHER INFORMATION CONTACT: The FinCEN Resource Center at 800-767-
2825 or electronically at [email protected].

[[Page 25121]]


SUPPLEMENTARY INFORMATION:

I. Background

    FinCEN launched an Innovation Initiative to foster a better 
understanding of the opportunities and challenges of Bank Secrecy Act 
(BSA) and AML-related innovation in the financial services sector. 
FinCEN recognizes that private sector innovation, either by new ways of 
using existing tools or by adopting new technologies, has the potential 
to enhance financial institutions' BSA/AML compliance programs. This 
includes aspects involving risk identification, transaction monitoring, 
and suspicious activity reporting as well as otherwise improving the 
BSA/AML framework by making valuable information available to law 
enforcement. When responsibly employed, these enhancements can be an 
important element in safeguarding the U.S. financial system against an 
evolving array of threats. FinCEN's Innovation Initiative, highlighted 
within the Joint FinCEN-Federal Banking Agency Statement on Innovation 
(December 3, 2018), includes the FinCEN Innovation Hours Program, 
consideration of exceptive relief, where necessary and appropriate to 
facilitate innovative solutions to AML/CFT compliance challenges, and 
ongoing efforts to identify ways to enhance existing feedback and 
information sharing programs. FinCEN is considering plans to further 
expand this initiative in the longer-term by establishing demonstration 
and application testing capabilities for innovative AML/CFT solutions. 
FinCEN will also consider the feasibility of sponsoring ``Tech 
Sprints'' to facilitate the development of innovative solutions to AML/
CFT challenges in the longer-term.\2\
---------------------------------------------------------------------------

    \2\ Tech Sprints are events hosted by government, private-
sector, and/or non-profit organizations or academic institutions 
that bring together representatives from all those sectors to 
collaboratively identify potential technological or other solutions 
to a particular problem or issue. FinCEN is considering the 
feasibility of hosting such events in the future that would focus on 
specific AML/CFT challenges or issues.
---------------------------------------------------------------------------

    To continue to better understand regulatory and financial 
technology developments involving AML and CFT, FinCEN has met with 
financial institutions, technology companies, payments processors, 
regulators and other stakeholders focusing on innovation. A common 
theme emerging from these discussions is the desire by financial 
services stakeholders to have greater direct engagement with 
policymakers and regulators to discuss or demonstrate innovative 
financial products and services and compliance solutions. At the same 
time, industry engagement educates policymakers and regulators about 
new and emerging financial technology (``FinTech'') and regulatory 
technology (``RegTech'') business models and operating environments, as 
well as other innovative approaches to compliance. Such understanding 
helps to inform potential ways to improve the effectiveness and 
efficiency of the AML/CFT regulatory framework to make more valuable 
information to law enforcement and to better protect the U.S. financial 
system.

II. Innovation Hours

    To advance FinCEN's Innovation Initiative, FinCEN will host 
Innovation Hours for financial institutions, technology providers, and 
other firms involved in financial services to discuss and showcase 
their innovative products, services and approaches. FinCEN intends for 
this engagement to benefit both the private sector and government. 
Industry would share information about specific innovations and the 
potential opportunities and challenges. As part of the Innovation 
Hours, FinCEN will provide FinTech and RegTech companies, financial 
institutions and other stakeholders opportunities to demonstrate their 
new and emerging technologies and innovative products and services. 
Such demonstrations would be aimed primarily at educating FinCEN and 
other government participants about how the innovations operate and can 
enhance BSA/AML compliance to provide for more effective and efficient 
reporting and recordkeeping or otherwise improve the value of 
information collected and analyzed under the BSA framework.
    Innovation Hours will be held primarily at FinCEN offices in 
Washington, DC or Vienna, VA on a monthly basis, but they may also be 
conducted in other locations, as well as virtually, as appropriate. 
Innovation Hours will generally be scheduled for one hour per eligible 
requester. Depending on the demand or other factors, FinCEN may not be 
able to grant all requests. Those participating in Innovation Hours 
will not be compensated or reimbursed for their time, services, or 
travel.

A. Eligibility

    Unless otherwise authorized by FinCEN, to participate in the 
Innovation Hours Program, FinCEN requires at a minimum that:
    (i) The requester provide or use financial or regulatory products 
or services that comply with BSA regulations or are intended to enhance 
compliance with U.S. regulations.
    (ii) The presentation or demonstration address how such products or 
services, or innovative uses of existing tools, can enhance financial 
institutions' BSA/AML compliance programs, including, for example, 
aspects involving risk identification, transaction monitoring, and 
suspicious activity reporting or otherwise improve the effectiveness 
and efficiency of the AML/CFT framework to make more valuable 
information available to law enforcement to better protect the U.S. 
financial system.
    (iii) Products are in production or ready for deployment.
    (iv) The company is not the subject of an ongoing federal or other 
criminal or civil enforcement action for BSA/AML deficiencies.
    FinCEN does not generally anticipate accepting requests from 
entities whose innovations are in the conceptual or nascent stages of 
development. FinCEN will meet with consultants or legal service 
providers to eligible companies through the Innovation Hours Program 
only to the extent that such consultants or legal service providers are 
representing an entity otherwise eligible to request a meeting under 
the criteria listed above.

B. Limitations

    Discussions occurring in the context of the FinCEN Innovation Hours 
Program do not constitute a formal agency position and are non-binding 
on participants. Participation in the Innovation Hours Program does not 
constitute a U.S. government recommendation, endorsement, or approval 
of any company innovation, product, service or approach. In addition, 
FinCEN does not, and will not, through FinCEN's Innovation Initiative, 
approve, provide advice, or opine on:
    [cir] Any specific business model;
    [cir] What products or services a firm can or should provide; or
    [cir] How a company should structure their operations or compliance 
program.

C. Process for Requesting Innovation Hours

    Companies interested in seeking engagement with FinCEN through the 
Innovation Hours Program should complete and submit a request form and 
questionnaire as instructed on the Innovation Initiative web page 
located at [https://www.fincen.gov/resources/fincens-innovation-hours-program]. The request form and questionnaire requires participants to 
provide background information on the firm's business and the requested 
discussion topics. FinCEN

[[Page 25122]]

may, however, seek additional information as appropriate to enable an 
informed review of the request. Please note that contacting FinCEN to 
request a meeting will be viewed as a representation that your firm 
understands and will comply with the parameters for such engagement 
outlined in the Frequently Asked Questions published on the Innovation 
Initiative web page [https://www.fincen.gov/resources/fincens-innovation-hours-program/faq].

D. General Compliance Questions

    Although general compliance or other questions may come up during 
Innovation Hours, such questions should not be the purpose of the 
meeting. Companies with general questions regarding the BSA and its 
implementing regulations should contact the FinCEN Resource Center 
(FRC) at 1-800-767-2825 or [email protected].

Jamal El-Hindi,
Deputy Director, Financial Crimes Enforcement Network.
[FR Doc. 2019-11314 Filed 5-29-19; 8:45 am]
BILLING CODE 4810-02-P
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