Financial Crimes Enforcement Network 2008 – Federal Register Recent Federal Regulation Documents

Transfer and Reorganization of Bank Secrecy Act Regulations
Document Number: E8-25550
Type: Proposed Rule
Date: 2008-11-07
Agency: Department of the Treasury, Financial Crimes Enforcement Network
FinCEN proposes to move Bank Secrecy Act (BSA) regulations to a new chapter in the Code of Federal Regulations (CFR). The new chapter would contain the BSA regulations, which would generally be reorganized by financial industry. Moving the BSA regulations to a new chapter and organizing the chapter by financial industry would create a user- friendly way to find regulations applicable to a particular financial industry. This new organization within the new chapter also allows for the renumbering of the BSA regulations in a manner that would make it easier to find regulatory requirements than under the numbering system currently used in the existing regulations. FinCEN also proposes to make minor technical changes to the BSA regulations such as updating mailing addresses and points of contact.