Department of the Treasury September 17, 2020 – Federal Register Recent Federal Regulation Documents

Anti-Money Laundering Program Effectiveness
Document Number: 2020-20527
Type: Proposed Rule
Date: 2020-09-17
Agency: Department of the Treasury, Financial Crimes Enforcement Network
This document seeks public comment on potential regulatory amendments to establish that all covered financial institutions subject to an anti-money laundering program requirement must maintain an ``effective and reasonably designed'' anti-money laundering program. Any such amendments would be expected to further clarify that such a program assesses and manages risk as informed by a financial institution's risk assessment, including consideration of anti-money laundering priorities to be issued by FinCEN consistent with the proposed amendments; provides for compliance with Bank Secrecy Act requirements; and provides for the reporting of information with a high degree of usefulness to government authorities. The regulatory amendments under consideration are intended to modernize the regulatory regime to address the evolving threats of illicit finance, and provide financial institutions with greater flexibility in the allocation of resources, resulting in the enhanced effectiveness and efficiency of anti-money laundering programs.
Proposed Collection; Comment Request for Form 5330
Document Number: 2020-20410
Type: Notice
Date: 2020-09-17
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service (IRS), as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning Return of Excise Taxes Related to Employee Benefit Plans.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.