Financial Crimes Enforcement Network; Inflation Adjustment of Civil Monetary Penalties, 54495-54496 [2019-22094]
Download as PDF
<![CDATA[
Federal Register / Vol. 84, No. 197 / Thursday, October 10, 2019 / Rules and Regulations
ADs@easa.europa.eu; internet
www.easa.europa.eu. You may find this
EASA AD on the EASA website at https://
ad.easa.europa.eu.
(5) You may view this material at the FAA,
Transport Standards Branch, 2200 South
216th St., Des Moines, WA. For information
on the availability of this material at the
FAA, call 206–231–3195. This material may
be found in the AD docket on the internet at
https://www.regulations.gov by searching for
and locating Docket No. FAA–2019–0441.
(6) You may view this material that is
incorporated by reference at the National
Archives and Records Administration
(NARA). For information on the availability
of this material at NARA, email fedreg.legal@
nara.gov, or go to: https://www.archives.gov/
federal-register/cfr/ibr-locations.html.
Issued in Des Moines, Washington, on
September 24, 2019.
Michael Kaszycki,
Acting Director, System Oversight Division,
Aircraft Certification Service.
[FR Doc. 2019–22152 Filed 10–9–19; 8:45 am]
BILLING CODE 4910–13–P
DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network
31 CFR Part 1010
Financial Crimes Enforcement
Network; Inflation Adjustment of Civil
Monetary Penalties
Financial Crimes Enforcement
Network (‘‘FinCEN’’), Treasury.
ACTION: Final rule.
AGENCY:
FinCEN publishes this final
rule to reflect inflation adjustments to
its civil monetary penalties (‘‘CMPs’’) as
mandated by the Federal Civil Penalties
Inflation Adjustment Act of 1990, as
amended by the Federal Civil Penalties
Inflation Adjustment Act Improvements
Act of 2015 (collectively referred to
herein as ‘‘the Act’’). This rule adjusts
certain CMPs within the jurisdiction of
FinCEN to the maximum amount
required by the Act.
DATES: Effective October 10, 2019.
FOR FURTHER INFORMATION CONTACT: The
FinCEN Resource Center at (800) 767–
2825 or email frc@fincen.gov.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Inflation Adjustment Act of 1990, 28
U.S.C. 2461 note (‘‘the Inflation
Adjustment Act’’), as amended by the
Federal Civil Penalties Inflation
Adjustment Act Improvements Act of
2015 (Pub. L. 114–74) (‘‘the 2015 Act’’),
requires Federal agencies to adjust each
CMP provided by law within the
jurisdiction of the agency. The 2015 Act
requires agencies to adjust the level of
CMPs with an initial ‘‘catch-up’’
adjustment through an interim final
rulemaking and to make subsequent
annual adjustments for inflation,
without needing to provide notice and
the opportunity for public comment
otherwise required by 5 U.S.C. 553. The
2015 Act provides that any increase in
a CMP shall apply to CMPs that are
assessed after the date the increase takes
effect, regardless of whether the
underlying violation predated such
increase.1
CMPs for inflation, effective 2017, is
provided by statute, with no discretion
provided to agencies regarding the
substance of the adjustments for
inflation to CMPs. FinCEN is charged
only with performing ministerial
computations to determine the dollar
amount of adjustments for inflation to
CMPs. Accordingly, prior public notice
and an opportunity for public comment
and a delayed effective date are not
required for this rule.
II. Method of Calculation
4. Paperwork Reduction Act
The method of calculating CMP
adjustments applied in this final rule is
required by the 2015 Act. Under the
2015 Act and the Office of Management
and Budget (‘‘OMB’’) guidance required
by the 2015 Act, annual inflation
adjustments subsequent to the initial
catch-up adjustment are to be based on
the percent change between the
Consumer Price Index for all Urban
Consumers (‘‘CPI–U’’) for the October
preceding the date of the adjustment
and the prior year’s October CPI–U. As
set forth in OMB Memorandum M–19–
04 of December 14, 2018, the adjustment
multiplier for 2019 is 1.02522. In order
to complete the 2019 annual
adjustment, each current CMP is
multiplied by the 2019 adjustment
multiplier. Under the 2015 Act, any
increase in CMP must be rounded to the
nearest multiple of $1.
The provisions of the Paperwork
Reduction Act of 1995, Public Law 104–
13, 44 U.S.C. Chapter 35, and its
implementing regulations, 5 CFR part
1320, do not apply to this rule because
there are no new or revised
recordkeeping or reporting
requirements.
VerDate Sep<11>2014
16:03 Oct 09, 2019
Jkt 250001
2. Regulatory Flexibility Act
Because no notice of proposed
rulemaking is required, the provisions
of the Regulatory Flexibility Act (5
U.S.C. 601 et seq.) do not apply.
3. Executive Order 12866
This rule is not a significant
regulatory action as defined in section
3.f of Executive Order 12866.
List of Subjects in 31 CFR Part 1010
Authority delegations (Government
agencies), Administrative practice and
procedure, Banks, banking, Brokers,
Currency, Foreign banking, Foreign
currencies, Gambling, Investigations,
Penalties, Reporting and recordkeeping
requirements, Securities, Terrorism.
Authority and Issuance
Procedural Matters
For the reasons set forth in the
preamble, part 1010 of chapter X of title
31 of the Code of Federal Regulations is
amended as follows:
1. Administrative Procedure Act
PART 1010—GENERAL PROVISIONS
The Federal Civil Penalties Inflation
Adjustment Act Improvements Act of
2015 (Section 701(b)) requires agencies,
beginning in 2017, to make annual
adjustments for inflation to CMPs
without needing to provide notice and
the opportunity for public comment
required by 5 U.S.C. 553. Additionally,
the methodology used for adjusting
I. Background
In order to improve the effectiveness
of CMPs and to maintain their deterrent
effect, the Federal Civil Penalties
54495
1 However, the increased CMPs apply only with
respect to underlying violations occurring after the
date of enactment of the 2015 Act, i.e., after
November 2, 2015.
PO 00000
Frm 00031
Fmt 4700
Sfmt 4700
1. The authority citation for part 1010
continues to read as follows:
■
Authority: 12 U.S.C. 1829b and 1951–
1959; 31 U.S.C. 5311–5314, 5316–5332; Title
III, sec. 314, Pub. L. 107–56, 115 Stat. 307;
sec. 701, Pub. L. 114–74, 129 Stat. 599.
2. Amend § 1010.821 by revising
Table 1 of § 1010.821 to read as follows:
■
§ 1010.821
*
Penalty adjustment and table.
*
*
(b) * * *
E:\FR\FM\10OCR1.SGM
10OCR1
*
*
54496
Federal Register / Vol. 84, No. 197 / Thursday, October 10, 2019 / Rules and Regulations
TABLE 1 OF § 1010.821—PENALTY ADJUSTMENT TABLE
U.S. Code citation
12
12
31
31
U.S.C.
U.S.C.
U.S.C.
U.S.C.
1829b(j) ...........................
1955 ................................
5318(k)(3)(C) ..................
5321(a)(1) .......................
31 U.S.C. 5321(a)(5)(B)(i) ...............
31 U.S.C. 5321(a)(5)(C)(i)(I) ............
31 U.S.C. 5321(a)(6)(A) ..................
31 U.S.C. 5321(a)(6)(B) ..................
31 U.S.C. 5321(a)(7) .......................
31 U.S.C. 5330(e) ............................
Relating to Recordkeeping Violations For Funds Transfers .....................
Willful or Grossly Negligent Recordkeeping Violations .............................
Failure to Terminate Correspondent Relationship with Foreign Bank ......
General Civil Penalty .................................................................................
Provision for Willful Violations of Bank Secrecy Act Requirements .........
Foreign Financial Agency Transaction—Non-Willful Violation of Transaction.
Foreign Financial Agency Transaction—Willful Violation of Transaction
Negligent Violation by Financial Institution or Non-Financial Trade or
Business.
Pattern of Negligent Activity by Financial Institution or Non-Financial
Trade or Business.
Violation of Certain Due Diligence Requirements, Prohibition on Correspondent Accounts for Shell Banks, and Special Measures.
Civil Penalty for Failure to Register as Money Transmitting Business ....
Jamal El-Hindi,
Deputy Director, Financial Crimes
Enforcement Network.
BILLING CODE 4810–02–P
DEPARTMENT OF HOMELAND
SECURITY
Coast Guard
33 CFR Part 165
[Docket Number USCG–2019–0794]
RIN 1625–AA00
Safety Zone, Saint Simons Sound, GA;
Correction
Coast Guard, DHS.
Temporary final rule;
correction.
AGENCY:
16:03 Oct 09, 2019
Jkt 250001
100,000
500
132,469
1,146
50,000
89,170
1,000,000
1,423,088
5,000
8,457
DEPARTMENT OF HOMELAND
SECURITY
If
you have questions on this rule, call or
email MST1 Rachel Crowe, Marine
Safety Unit Savannah Office of
Waterways Management, Coast Guard;
Waterways Management, Coast Guard;
telephone 912–652–4353, extension
243, or email Rachel.M.Crowe@uscg.mil.
Coast Guard
33 CFR Part 165
[Docket Number USCG–2019–0799]
RIN 1625–AA00
SUPPLEMENTARY INFORMATION:
Safety Zone; Manasquan Inlet,
Manasquan, NJ
Correction
AGENCY:
In FR Rule Doc. 2019–20781,
appearing on page 51413 in the Federal
Register of Monday, September 30,
2019, the following corrections are
made:
On page 51413, in the first column in
Instruction No. 2, ‘‘§ 2019–0974’’ is
corrected to read ‘‘§ 165.T07–0794’’.
The Coast Guard is correcting
a temporary final rule that appeared in
the Federal Register on September 30,
2019. The document issued an
emergency temporary safety zone in
response to the grounding/capsizing of
the M/V GOLDEN RAY (31°07′39.66
North, 081°24′10.58 West, between
Saint Simons Lighthouse and the north
end of Jekyll Island, in the vicinity of
green buoy #19). The rule was made
enforceable from September 19, 2019,
until no longer deemed necessary by the
Captain of the Port Savannah. However,
in the instruction and section heading of
regulatory text, the docket number
appeared instead of the CFR section
number.
SUMMARY:
$21,039
21,039
14,231
57,317
¥229,269
13,247
This correction is effective on
October 10, 2019.
■
ACTION:
$10,000
10,000
10,000
25,000
¥100,000
10,000
DATES:
FOR FURTHER INFORMATION CONTACT:
[FR Doc. 2019–22094 Filed 10–9–19; 8:45 am]
VerDate Sep<11>2014
Penalties as
last amended
by statute
Civil monetary penalty description
Maximum penalty amounts
or range of
minimum and
maximum penalty amounts
for penalties
assessed on
or after October 10, 2019
On page 51413, in the first column,
the section heading ‘‘§ 2019–0794 Safety
Zone; M/V GOLDEN RAY; Saint Simons
Sound, GA.’’ is corrected to read,
‘‘§ 165.T07–0794 Safety Zone; M/V
GOLDEN RAY; Saint Simons Sound,
GA.’’
■
Dated: October 3, 2019.
M.W. Mumbach,
Chief, Office of Regulations and
Administrative Law, U.S. Coast Guard.
[FR Doc. 2019–21902 Filed 10–9–19; 8:45 am]
BILLING CODE 9110–04–P
PO 00000
Frm 00032
Fmt 4700
Sfmt 4700
ACTION:
Coast Guard, DHS.
Temporary final rule.
The Coast Guard is
establishing a temporary safety zone for
certain waters of the Manasquan Inlet
between Manasquan, NJ, and Point
Pleasant Beach, NJ. This action is
necessary to protect event participants,
spectators, and vessels transiting the
area from potential hazards during the
Manasquan Inlet Intercoastal Tug
marine event. During the enforcement
period, unauthorized persons or vessels
are prohibited from entering into,
remaining within, transiting through, or
anchoring in the safety zone unless
authorized by the Captain of the Port
Delaware Bay or a designated
representative of the Captain of the Port.
DATES: This rule is effective from noon
to 2:30 p.m. on October 12, 2019.
ADDRESSES: To view documents
mentioned in this preamble as being
available in the docket, go to https://
www.regulations.gov, type USCG–2019–
0799 in the ‘‘SEARCH’’ box and click
‘‘SEARCH.’’ Click on Open Docket
SUMMARY:
E:\FR\FM\10OCR1.SGM
10OCR1
]]>Agencies
[Federal Register Volume 84, Number 197 (Thursday, October 10, 2019)]
[Rules and Regulations]
[Pages 54495-54496]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-22094]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network
31 CFR Part 1010
Financial Crimes Enforcement Network; Inflation Adjustment of
Civil Monetary Penalties
AGENCY: Financial Crimes Enforcement Network (``FinCEN''), Treasury.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: FinCEN publishes this final rule to reflect inflation
adjustments to its civil monetary penalties (``CMPs'') as mandated by
the Federal Civil Penalties Inflation Adjustment Act of 1990, as
amended by the Federal Civil Penalties Inflation Adjustment Act
Improvements Act of 2015 (collectively referred to herein as ``the
Act''). This rule adjusts certain CMPs within the jurisdiction of
FinCEN to the maximum amount required by the Act.
DATES: Effective October 10, 2019.
FOR FURTHER INFORMATION CONTACT: The FinCEN Resource Center at (800)
767-2825 or email [email protected].
SUPPLEMENTARY INFORMATION:
I. Background
In order to improve the effectiveness of CMPs and to maintain their
deterrent effect, the Federal Civil Penalties Inflation Adjustment Act
of 1990, 28 U.S.C. 2461 note (``the Inflation Adjustment Act''), as
amended by the Federal Civil Penalties Inflation Adjustment Act
Improvements Act of 2015 (Pub. L. 114-74) (``the 2015 Act''), requires
Federal agencies to adjust each CMP provided by law within the
jurisdiction of the agency. The 2015 Act requires agencies to adjust
the level of CMPs with an initial ``catch-up'' adjustment through an
interim final rulemaking and to make subsequent annual adjustments for
inflation, without needing to provide notice and the opportunity for
public comment otherwise required by 5 U.S.C. 553. The 2015 Act
provides that any increase in a CMP shall apply to CMPs that are
assessed after the date the increase takes effect, regardless of
whether the underlying violation predated such increase.\1\
---------------------------------------------------------------------------
\1\ However, the increased CMPs apply only with respect to
underlying violations occurring after the date of enactment of the
2015 Act, i.e., after November 2, 2015.
---------------------------------------------------------------------------
II. Method of Calculation
The method of calculating CMP adjustments applied in this final
rule is required by the 2015 Act. Under the 2015 Act and the Office of
Management and Budget (``OMB'') guidance required by the 2015 Act,
annual inflation adjustments subsequent to the initial catch-up
adjustment are to be based on the percent change between the Consumer
Price Index for all Urban Consumers (``CPI-U'') for the October
preceding the date of the adjustment and the prior year's October CPI-
U. As set forth in OMB Memorandum M-19-04 of December 14, 2018, the
adjustment multiplier for 2019 is 1.02522. In order to complete the
2019 annual adjustment, each current CMP is multiplied by the 2019
adjustment multiplier. Under the 2015 Act, any increase in CMP must be
rounded to the nearest multiple of $1.
Procedural Matters
1. Administrative Procedure Act
The Federal Civil Penalties Inflation Adjustment Act Improvements
Act of 2015 (Section 701(b)) requires agencies, beginning in 2017, to
make annual adjustments for inflation to CMPs without needing to
provide notice and the opportunity for public comment required by 5
U.S.C. 553. Additionally, the methodology used for adjusting CMPs for
inflation, effective 2017, is provided by statute, with no discretion
provided to agencies regarding the substance of the adjustments for
inflation to CMPs. FinCEN is charged only with performing ministerial
computations to determine the dollar amount of adjustments for
inflation to CMPs. Accordingly, prior public notice and an opportunity
for public comment and a delayed effective date are not required for
this rule.
2. Regulatory Flexibility Act
Because no notice of proposed rulemaking is required, the
provisions of the Regulatory Flexibility Act (5 U.S.C. 601 et seq.) do
not apply.
3. Executive Order 12866
This rule is not a significant regulatory action as defined in
section 3.f of Executive Order 12866.
4. Paperwork Reduction Act
The provisions of the Paperwork Reduction Act of 1995, Public Law
104-13, 44 U.S.C. Chapter 35, and its implementing regulations, 5 CFR
part 1320, do not apply to this rule because there are no new or
revised recordkeeping or reporting requirements.
List of Subjects in 31 CFR Part 1010
Authority delegations (Government agencies), Administrative
practice and procedure, Banks, banking, Brokers, Currency, Foreign
banking, Foreign currencies, Gambling, Investigations, Penalties,
Reporting and recordkeeping requirements, Securities, Terrorism.
Authority and Issuance
For the reasons set forth in the preamble, part 1010 of chapter X
of title 31 of the Code of Federal Regulations is amended as follows:
PART 1010--GENERAL PROVISIONS
0
1. The authority citation for part 1010 continues to read as follows:
Authority: 12 U.S.C. 1829b and 1951-1959; 31 U.S.C. 5311-5314,
5316-5332; Title III, sec. 314, Pub. L. 107-56, 115 Stat. 307; sec.
701, Pub. L. 114-74, 129 Stat. 599.
0
2. Amend Sec. 1010.821 by revising Table 1 of Sec. 1010.821 to read
as follows:
Sec. 1010.821 Penalty adjustment and table.
* * * * *
(b) * * *
[[Page 54496]]
Table 1 of Sec. 1010.821--Penalty Adjustment Table
----------------------------------------------------------------------------------------------------------------
Maximum
penalty
amounts or
range of
minimum and
Penalties as maximum
U.S. Code citation Civil monetary penalty description last amended penalty
by statute amounts for
penalties
assessed on or
after October
10, 2019
----------------------------------------------------------------------------------------------------------------
12 U.S.C. 1829b(j)......................... Relating to Recordkeeping $10,000 $21,039
Violations For Funds Transfers.
12 U.S.C. 1955............................. Willful or Grossly Negligent 10,000 21,039
Recordkeeping Violations.
31 U.S.C. 5318(k)(3)(C).................... Failure to Terminate Correspondent 10,000 14,231
Relationship with Foreign Bank.
31 U.S.C. 5321(a)(1)....................... General Civil Penalty.............. 25,000 57,317
Provision for Willful Violations of -100,000 -229,269
Bank Secrecy Act Requirements.
31 U.S.C. 5321(a)(5)(B)(i)................. Foreign Financial Agency 10,000 13,247
Transaction--Non-Willful Violation
of Transaction.
31 U.S.C. 5321(a)(5)(C)(i)(I).............. Foreign Financial Agency 100,000 132,469
Transaction--Willful Violation of
Transaction.
31 U.S.C. 5321(a)(6)(A).................... Negligent Violation by Financial 500 1,146
Institution or Non-Financial Trade
or Business.
31 U.S.C. 5321(a)(6)(B).................... Pattern of Negligent Activity by 50,000 89,170
Financial Institution or Non-
Financial Trade or Business.
31 U.S.C. 5321(a)(7)....................... Violation of Certain Due Diligence 1,000,000 1,423,088
Requirements, Prohibition on
Correspondent Accounts for Shell
Banks, and Special Measures.
31 U.S.C. 5330(e).......................... Civil Penalty for Failure to 5,000 8,457
Register as Money Transmitting
Business.
----------------------------------------------------------------------------------------------------------------
Jamal El-Hindi,
Deputy Director, Financial Crimes Enforcement Network.
[FR Doc. 2019-22094 Filed 10-9-19; 8:45 am]
BILLING CODE 4810-02-P
