Financial Crimes Enforcement Network; Inflation Adjustment of Civil Monetary Penalties, 3311-3313 [2023-00943]
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Federal Register / Vol. 88, No. 12 / Thursday, January 19, 2023 / Rules and Regulations
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a contention if it determines the petition
raises a genuine issue of material fact
regarding compliance with paragraph VIII.B.5
of this appendix.
C. Operational Requirements
1. Changes to NuScale design certification
generic TS and other operational
requirements that were completely reviewed
and approved in the design certification rule
and do not require a change to a design
feature in the generic DCD are governed by
the requirements in 10 CFR 50.109. Changes
that require a change to a design feature in
the generic DCD are governed by the
requirements in paragraphs A or B of this
section.
2. Changes to NuScale design certification
generic TS and other operational
requirements are applicable to all applicants
who reference this appendix, except those for
which the change has been rendered
technically irrelevant by action taken under
paragraphs C.3 or C.4 of this section.
3. The Commission may require plantspecific departures on generic TS and other
operational requirements that were
completely reviewed and approved, provided
a change to a design feature in the generic
DCD is not required and special
circumstances, as defined in 10 CFR 2.335
are present. The Commission may modify or
supplement generic TS and other operational
requirements that were not completely
reviewed and approved or require additional
TS and other operational requirements on a
plant-specific basis, provided a change to a
design feature in the generic DCD is not
required.
4. An applicant who references this
appendix may request an exemption from the
generic TS or other operational requirements.
The Commission may grant such a request
only if it determines that the exemption will
comply with the requirements of § 52.7. The
granting of an exemption must be subject to
litigation in the same manner as other issues
material to the license hearing.
5. A party to an adjudicatory proceeding
for the issuance, amendment, or renewal of
a license, or for operation under § 52.103(a),
who believes that an operational requirement
approved in the DCD or a TS derived from
the generic TS must be changed, may petition
to admit such a contention into the
proceeding. The petition must comply with
the general requirements of § 2.309 of this
chapter and must either demonstrate why
special circumstances as defined in § 2.335 of
this chapter are present or demonstrate that
the proposed change is necessary for
compliance with the Commission’s
regulations in effect at the time this appendix
was approved, as set forth in Section V of
this appendix. Any other party may file a
response to the petition. If, on the basis of the
petition and any response, the presiding
officer determines that a sufficient showing
has been made, the presiding officer shall
certify the matter directly to the Commission
for determination of the admissibility of the
contention. All other issues with respect to
the plant-specific TS or other operational
requirements are subject to a hearing as part
of the licensing proceeding.
6. After issuance of a license, the generic
TS have no further effect on the plant-
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specific TS. Changes to the plant-specific TS
will be treated as license amendments under
10 CFR 50.90.
IX. [Reserved]
X. Records and Reporting
A. Records
1. The applicant for this appendix shall
maintain a copy of the generic DCD that
includes all generic changes that are made to
Tier 1 and Tier 2, and the generic TS and
other operational requirements. The
applicant shall maintain the sensitive
unclassified non-safeguards information
(including proprietary information and
security-related information) and safeguards
information referenced in the generic DCD
for the period that this appendix may be
referenced, as specified in Section VII of this
appendix.
2. An applicant or licensee who references
this appendix shall maintain the plantspecific DCD to accurately reflect both
generic changes to the generic DCD and
plant-specific departures made under Section
VIII of this appendix throughout the period
of application and for the term of the license
(including any periods of renewal).
3. An applicant or licensee who references
this appendix shall prepare and maintain
written evaluations that provide the bases for
the determinations required by Section VIII
of this appendix. These evaluations must be
retained throughout the period of application
and for the term of the license (including any
periods of renewal).
4.a. The applicant for NuScale shall
maintain a copy of the aircraft impact
assessment performed to comply with the
requirements of 10 CFR 50.150(a) for the term
of the certification (including any period of
renewal).
b. An applicant or licensee who references
this appendix shall maintain a copy of the
aircraft impact assessment performed to
comply with the requirements of 10 CFR
50.150(a) throughout the pendency of the
application and for the term of the license
(including any periods of renewal).
B. Reporting
1. An applicant or licensee who references
this appendix shall submit a report to the
NRC containing a brief description of any
plant-specific departures from the DCD,
including a summary of the evaluation of
each departure. This report must be filed in
accordance with the filing requirements
applicable to reports in § 52.3.
2. An applicant or licensee who references
this appendix shall submit updates to its
plant-specific DCD, which reflect the generic
changes to and plant-specific departures from
the generic DCD made under Section VIII of
this appendix. These updates shall be filed
under the filing requirements applicable to
final safety analysis report updates in 10 CFR
50.71(e) and 52.3.
3. The reports and updates required by
paragraphs X.B.1 and X.B.2 of this appendix
must be submitted as follows:
a. On the date that an application for a
license referencing this appendix is
submitted, the application must include the
report and any updates to the generic DCD.
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3311
b. During the interval from the date of
application for a license to the date the
Commission makes its finding required by
§ 52.103(g), the report must be submitted
semiannually. Updates to the plant-specific
DCD must be submitted annually and may be
submitted along with amendments to the
application.
c. After the Commission makes the finding
required by § 52.103(g), the reports and
updates to the plant-specific DCD must be
submitted, along with updates to the sitespecific portion of the final safety analysis
report for the facility, at the intervals
required by 10 CFR 50.59(d)(2) and
50.71(e)(4), respectively, or at shorter
intervals as specified in the license.
Dated: January 11, 2023.
For the Nuclear Regulatory Commission.
Brooke P. Clark,
Secretary of the Commission.
[FR Doc. 2023–00729 Filed 1–18–23; 8:45 am]
BILLING CODE 7590–01–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 is publishing this
final rule to reflect inflation adjustments
to its civil monetary penalties as
mandated by the Federal Civil Penalties
Inflation Adjustment Act of 1990, as
amended. This rule adjusts certain
maximum civil monetary penalties
within the jurisdiction of FinCEN to the
amounts required by that Act.
DATES: Effective January 19, 2023.
FOR FURTHER INFORMATION CONTACT: The
FinCEN Regulatory Support Section at
1–800–767–2825, or electronically at
frc@fincen.gov.
SUPPLEMENTARY INFORMATION:
SUMMARY:
I. Background
In order to improve the effectiveness
of civil monetary penalties (CMPs) and
to maintain their deterrent effect, the
Federal Civil Penalties Inflation
Adjustment Act of 1990, as amended in
2015 by section 701 of Public Law 114–
74, codified at 28 U.S.C. 2461 note (the
Act), requires Federal agencies to adjust
for inflation each CMP provided by law
within the jurisdiction of the agency.
The Act requires agencies to adjust the
level of CMPs with an initial ‘‘catch-up’’
adjustment through an interim final
rulemaking. After the initial ‘‘catch-up’’
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Federal Register / Vol. 88, No. 12 / Thursday, January 19, 2023 / Rules and Regulations
adjustment, agencies are required to
adjust CMPs annually and to make the
adjustments notwithstanding 5 U.S.C.
553, which requires notice-andcomment rulemaking for certain agency
actions. The 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
II. Method of Calculation
The method of calculating CMP
adjustments applied in this final rule is
required by the Act. Under the Act and
Office of Management and Budget
(OMB) guidance, 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–23–
05 of December 15, 2022, the adjustment
multiplier for 2023 is 1.07745. In order
to complete the 2023 annual
adjustment, each current CMP (all of
which were themselves last adjusted in
2022) is multiplied by the 2023
adjustment multiplier. Under the Act,
any increase in CMP must be rounded
to the nearest multiple of $1.2
Procedural Matters
1. Administrative Procedure Act
Section 4(b) of the Act requires
agencies, beginning in 2017, to make
annual adjustments for inflation to
CMPs notwithstanding the notice and
comment requirements of 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.
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
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 and 5316–5336;
title III, sec. 314, Pub. L. 107–56, 115 Stat.
307; sec. 2006, Pub. L. 114–41, 129 Stat. 458–
459; sec. 701, Pub. L. 114–74, 129 Stat. 599.
2. Amend § 1010.821 by revising table
1 following paragraph (b) to read as
follows:
■
§ 1010.821
*
Penalty adjustment and table.
*
*
(b) * * *
*
*
TABLE 1 OF § 1010.821—PENALTY ADJUSTMENT TABLE
Civil monetary penalty description
12 U.S.C. 1829b(j) ................
12 U.S.C. 1955 ......................
31 U.S.C. 5318(k)(3)(C) ........
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.
31 U.S.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) .................
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Penalties as last
amended by statute
U.S. Code citation
1 The increased CMPs, however, apply only with
respect to underlying violations occurring after
November 2, 2015 the date of enactment of the most
recent amendment to the Act.
2 FinCEN has previously described that it applied
a catch-up adjustment for each penalty subject to
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the Act, based on the year and corresponding
amount(s) for which the maximum penalty or range
of minimum and maximum penalties was
established or last adjusted, whichever is later. See
Civil Monetary Penalty Adjustment and Table, 81
FR 42503, 42504 (June 30, 2016). Because the year
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Maximum penalty
amounts or range of
minimum and maximum
penalty amounts for
penalties assessed on
or after 1/19/2022
$10,000
10,000
10,000
$24,793
24,793
16,771
25,000–100,000
67,544–270,180
10,000
15,611
100,000
156,107
500
1,350
50,000
105,083
1,000,000
1,677,030
5,000
9,966
varies for different penalties, penalties that were
originally of the same size when promulgated can
have different values today pursuant to the
application of the Act.
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Federal Register / Vol. 88, No. 12 / Thursday, January 19, 2023 / Rules and Regulations
Himamauli Das,
Acting Director, Financial Crimes
Enforcement Network.
[FR Doc. 2023–00943 Filed 1–18–23; 8:45 am]
BILLING CODE 4810–02–P
POSTAL REGULATORY COMMISSION
39 CFR Part 3035
[Docket Nos. RM2017–1 and RM2022–2;
Order No. 6399]
Competitive Postal Products
Postal Regulatory Commission.
ACTION: Final rulemaking.
AGENCY:
The Commission is adopting
a final rule concerning the minimum
amount that the Postal Service’s
competitive products as a whole are
required to contribute to institutional
costs annually. The rule as adopted uses
a formula-based approach to annually
calculate competitive products’
appropriate share of institutional costs.
For additional information, Order No.
6399 can be accessed electronically
through the Commission’s website at
https://www.prc.gov.
DATES: Effective February 21, 2023.
FOR FURTHER INFORMATION CONTACT:
David A. Trissell, General Counsel, at
202–789–6820.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Table of Contents
I. Relevant Statutory Requirements
II. Background
III. Basis and Purpose of Final Rule
IV. Final Rule
II. Background
Pursuant to section 3633(b), the
Commission initiated Docket No.
RM2017–1 for the purpose of
conducting its second review of the
appropriate share requirement since the
enactment of the Postal Accountability
and Enhancement Act (PAEA), Public
Law 109–435, 120 Stat. 3198 (2006). In
its second review of the appropriate
share, the Commission found that
market conditions have changed since
the PAEA’s enactment and since the
Commission’s last review of the
appropriate share.1 As a result, in Order
No. 4963, the Commission adopted a
final rule implementing a dynamic
formula-based approach to setting the
appropriate share.2
However, Order No. 4963 was
appealed by the United Parcel Service,
Inc. and later remanded to the
Commission for further consideration by
the United States Court of Appeals for
the District of Columbia Circuit.3 The
court identified two major aspects of
Order No. 4963 for the Commission to
clarify on remand. The Commission
issued Order No. 6043, which was a
supplemental notice of proposed
rulemaking that addressed the issues
identified by the court and provided an
opportunity for interested persons to file
initial comments and reply comments
concerning the Commission’s third 5year review of the appropriate share as
required by 39 U.S.C. 3633(b).4 In
addition, the Commission issued Order
No. 6269, which invited public
comment relating to the Commission’s
analysis pursuant to uncodified section
703(d) of the Postal Accountability and
Enhancement Act (PAEA).5
The Commission received and
considered comments with respect to
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I. Relevant Statutory Requirements
Section 3633(a)(3) of title 39 of the
United States Code requires the
Commission to ‘‘ensure that all
competitive products collectively cover
what the Commission determines to be
an appropriate share of the institutional
costs of the Postal Service.’’ 39 U.S.C.
3633(a)(3). Section 3633(b) requires that
the Commission revisit the appropriate
share regulation at least every 5 years in
order to determine if the minimum
contribution requirement should be
‘‘retained in its current form, modified,
or eliminated.’’ 39 U.S.C. 3633(b). In
making such a determination, the
Commission is required to consider ‘‘all
relevant circumstances, including the
prevailing competitive conditions in the
market, and the degree to which any
costs are uniquely or disproportionately
associated with any competitive
products.’’ Id.
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Jkt 259001
1 See Docket No. RM2017–1, Order Adopting
Final Rules Relating to the Institutional Cost
Contribution Requirement for Competitive
Products, January 3, 2019, at 4–12, 114–170 (Order
No. 4963); see 84 FR 537 (January 1, 2019).
2 Order Adopting Final Rules Relating to the
Institutional Cost Contribution Requirement for
Competitive Products, January 3, 2019 (Order No.
4963). The Final Rulemaking was published in the
Federal Register on January 31, 2019. See 84 FR
537 (Jan. 31, 2019).
3 UPS II, 955 F.3d 1038, No. 19–1026, ECF
Document No. 1846181, at 1, (issuing formal
mandate), June 8, 2020.
4 Supplemental Notice of Proposed Rulemaking
and Order Initiating the Third Review of the
Institutional Cost Contribution Requirement for
Competitive Products, November 18, 2021 (Order
No. 6043). The Supplemental Notice of Proposed
Rulemaking was published in the Federal Register
on August 13, 2018. See 86 FR 67882 (Nov. 30,
2021).
5 Notice and Order Providing an Opportunity to
Comment on the Commission’s Section 703(d)
Analysis, September 7, 2022 (Order No. 6269);
Postal Accountability and Enhancement Act
(PAEA), Public Law 109–435, Title VII, § 703, 120
Stat. 3198, 3244 (2006).
PO 00000
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Fmt 4700
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3313
nearly every aspect of the Commission’s
findings in Order Nos. 6043 and 6269.
In Section IV., the Commission
addresses comments relating to the
Commission’s statutory interpretation of
the appropriate share provisions at 39
U.S.C. 3633(a)(3) and (b). After
considering these comments, the
Commission has determined not to alter
its interpretation as articulated in Order
No. 6043, which the Commission
continues to conclude is consistent with
the PAEA’s text and structure, as well
as its context and legislative history. See
Section IV.
In Section V.A., the Commission
addresses comments relating to the
application of the ‘‘uniquely or
disproportionately associated’’ phrase
from 39 U.S.C. 3633(b) to the Postal
Service’s accrued costs. The
Commission continues to find that all
attributable costs are already included
in the 39 U.S.C. 3633(a)(3) price floor
and are furthermore implicitly
considered as part of the formula. See
Section V.A.2.b. The price floors set
under 39 U.S.C. 3633(a)(1) and (a)(3)
fully ameliorate any competitive deficit
alleged to be unaddressed by the price
floor under 39 U.S.C. 3633(a)(2), and
that the use of incremental costs for
purposes of the price floors under 39
U.S.C. 3633(a)(1) and (a)(2) is sufficient
to prevent subsidization of Competitive
products. See Section V.A.3.b. Any
further attempt to account for
attributable costs as part of the
appropriate share would constitute
double-counting of those costs that
would be economically unsound and
potentially harmful to the Postal
Service. See Section V.A.4.b. There is
no meaningful relationship between
unattributed inframarginal costs and
Competitive products; there are no costs
uniquely or disproportionately
associated with Competitive products
within currently-existing institutional
costs; and using economically sound
measurement is reasonable. See
Sections V.A.5.b., V.A.6.b., V.A.7.b. The
arbitrary allocation of institutional costs
to Competitive products would
contravene the intent of the PAEA,
would be economically unsound, would
degrade the existing costing
methodology, and could harm the Postal
Service and consumers. See Section
V.A.8.b.
In Section V.B., the Commission
addresses comments relating to the
prevailing competitive conditions in the
market and other relevant
circumstances. The Commission
confirms that revenue is the appropriate
measure of market size, and that the
profitability of competitors is relevant to
assessing the prevailing competitive
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]]>Agencies
[Federal Register Volume 88, Number 12 (Thursday, January 19, 2023)]
[Rules and Regulations]
[Pages 3311-3313]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-00943]
=======================================================================
-----------------------------------------------------------------------
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 is publishing this final rule to reflect inflation
adjustments to its civil monetary penalties as mandated by the Federal
Civil Penalties Inflation Adjustment Act of 1990, as amended. This rule
adjusts certain maximum civil monetary penalties within the
jurisdiction of FinCEN to the amounts required by that Act.
DATES: Effective January 19, 2023.
FOR FURTHER INFORMATION CONTACT: The FinCEN Regulatory Support Section
at 1-800-767-2825, or electronically at [email protected].
SUPPLEMENTARY INFORMATION:
I. Background
In order to improve the effectiveness of civil monetary penalties
(CMPs) and to maintain their deterrent effect, the Federal Civil
Penalties Inflation Adjustment Act of 1990, as amended in 2015 by
section 701 of Public Law 114-74, codified at 28 U.S.C. 2461 note (the
Act), requires Federal agencies to adjust for inflation each CMP
provided by law within the jurisdiction of the agency. The Act requires
agencies to adjust the level of CMPs with an initial ``catch-up''
adjustment through an interim final rulemaking. After the initial
``catch-up''
[[Page 3312]]
adjustment, agencies are required to adjust CMPs annually and to make
the adjustments notwithstanding 5 U.S.C. 553, which requires notice-
and-comment rulemaking for certain agency actions. The 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\ The increased CMPs, however, apply only with respect to
underlying violations occurring after November 2, 2015 the date of
enactment of the most recent amendment to the Act.
---------------------------------------------------------------------------
II. Method of Calculation
The method of calculating CMP adjustments applied in this final
rule is required by the Act. Under the Act and Office of Management and
Budget (OMB) guidance, 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-23-05 of December 15,
2022, the adjustment multiplier for 2023 is 1.07745. In order to
complete the 2023 annual adjustment, each current CMP (all of which
were themselves last adjusted in 2022) is multiplied by the 2023
adjustment multiplier. Under the Act, any increase in CMP must be
rounded to the nearest multiple of $1.\2\
---------------------------------------------------------------------------
\2\ FinCEN has previously described that it applied a catch-up
adjustment for each penalty subject to the Act, based on the year
and corresponding amount(s) for which the maximum penalty or range
of minimum and maximum penalties was established or last adjusted,
whichever is later. See Civil Monetary Penalty Adjustment and Table,
81 FR 42503, 42504 (June 30, 2016). Because the year varies for
different penalties, penalties that were originally of the same size
when promulgated can have different values today pursuant to the
application of the Act.
---------------------------------------------------------------------------
Procedural Matters
1. Administrative Procedure Act
Section 4(b) of the Act requires agencies, beginning in 2017, to
make annual adjustments for inflation to CMPs notwithstanding the
notice and comment requirements of 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. 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
and 5316-5336; title III, sec. 314, Pub. L. 107-56, 115 Stat. 307;
sec. 2006, Pub. L. 114-41, 129 Stat. 458-459; sec. 701, Pub. L. 114-
74, 129 Stat. 599.
0
2. Amend Sec. 1010.821 by revising table 1 following paragraph (b) to
read as follows:
Sec. 1010.821 Penalty adjustment and table.
* * * * *
(b) * * *
Table 1 of Sec. 1010.821--Penalty Adjustment Table
----------------------------------------------------------------------------------------------------------------
Maximum penalty amounts
or range of minimum and
U.S. Code citation Civil monetary penalty Penalties as last maximum penalty amounts
description amended by statute for penalties assessed
on or after 1/19/2022
----------------------------------------------------------------------------------------------------------------
12 U.S.C. 1829b(j)................ Relating to Recordkeeping $10,000 $24,793
Violations For Funds
Transfers.
12 U.S.C. 1955.................... Willful or Grossly 10,000 24,793
Negligent Recordkeeping
Violations.
31 U.S.C. 5318(k)(3)(C)........... Failure to Terminate 10,000 16,771
Correspondent
Relationship with Foreign
Bank.
31 U.S.C. 5321(a)(1).............. General Civil Penalty 25,000-100,000 67,544-270,180
Provision for Willful
Violations of Bank
Secrecy Act Requirements.
31 U.S.C. 5321(a)(5)(B)(i)........ Foreign Financial Agency 10,000 15,611
Transaction--Non-Willful
Violation of Transaction.
31 U.S.C. 5321(a)(5)(C)(i)(I)..... Foreign Financial Agency 100,000 156,107
Transaction--Willful
Violation of Transaction.
31 U.S.C. 5321(a)(6)(A)........... Negligent Violation by 500 1,350
Financial Institution or
Non-Financial Trade or
Business.
31 U.S.C. 5321(a)(6)(B)........... Pattern of Negligent 50,000 105,083
Activity by Financial
Institution or Non-
Financial Trade or
Business.
31 U.S.C. 5321(a)(7).............. Violation of Certain Due 1,000,000 1,677,030
Diligence Requirements,
Prohibition on
Correspondent Accounts
for Shell Banks, and
Special Measures.
31 U.S.C. 5330(e)................. Civil Penalty for Failure 5,000 9,966
to Register as Money
Transmitting Business.
----------------------------------------------------------------------------------------------------------------
[[Page 3313]]
Himamauli Das,
Acting Director, Financial Crimes Enforcement Network.
[FR Doc. 2023-00943 Filed 1-18-23; 8:45 am]
BILLING CODE 4810-02-P
