Financial Crimes Enforcement Network August 2020 – Federal Register Recent Federal Regulation Documents

Agency Information Collection Activities; Proposed Renewal; Comment Request; Renewal Without Change of Anti-Money Laundering Programs for Certain Financial Institutions
Document Number: 2020-17696
Type: Notice
Date: 2020-08-13
Agency: Department of the Treasury, Financial Crimes Enforcement Network
As part of its continuing effort to reduce paperwork and respondent burden, FinCEN invites comments on the proposed renewal, without change, of currently approved information collections found in existing Bank Secrecy Act regulations requiring money services businesses, mutual funds, insurance companies, dealers in precious metals, precious stones, or jewels, operators of credit card systems, and loan or finance companies to develop and implement written anti- money laundering programs reasonably designed to prevent those financial institutions from being used to facilitate money laundering and the financing of terrorist activities. Although no changes are proposed to the information collections themselves, this request for comments covers a future expansion of the scope of the annual burden and cost estimates associated with these regulations. This request for comments is made pursuant to the Paperwork Reduction Act of 1995.
Agency Information Collection Activities; Proposed Renewal; Comment Request; Renewal Without Change of the Customer Identification Program Regulatory Requirements for Certain Financial Institutions
Document Number: 2020-17694
Type: Notice
Date: 2020-08-13
Agency: Department of the Treasury, Financial Crimes Enforcement Network
As part of its continuing effort to reduce paperwork and respondent burden, FinCEN invites comments on the proposed renewal, without change, of currently approved information collections found in existing Bank Secrecy Act regulations requiring banks, savings associations, credit unions, certain non-federally regulated banks, brokers or dealers in securities, mutual funds, futures commission merchants, and introducing brokers in commodities, to develop and implement customer identification programs designed to allow the financial institution to form a reasonable belief it knows the true identity of each customer. Although no changes are proposed to the information collections themselves, this request covers a future expansion of the scope of the annual burden and cost estimates associated with these regulations. This request for comments is made pursuant to the Paperwork Reduction Act of 1995.
Agency Information Collection Activities; Proposed Renewal; Comment Request; Renewal Without Change of Information Collection Requirements in Connection With the Imposition of a Special Measure Concerning Bank of Dandong as a Financial Institution of Primary Money Laundering Concern
Document Number: 2020-17408
Type: Notice
Date: 2020-08-10
Agency: Department of the Treasury, Financial Crimes Enforcement Network
As part of its continuing effort to reduce paperwork and respondent burden, FinCEN invites comment on a renewal, without change, to information collection requirements finalized on November 8, 2017, imposing a special measure with respect to Bank of Dandong as a financial institution of primary money laundering concern. This request for comments is being made pursuant to the Paperwork Reduction Act of 1995.
Financial Crimes Enforcement Network; Withdrawal of the Notice of Finding Involving Banco Delta Asia SARL (BDA)
Document Number: 2020-17144
Type: Rule
Date: 2020-08-10
Agency: Department of the Treasury, Financial Crimes Enforcement Network
This document withdraws FinCEN's finding that BDA is a financial institution of primary money laundering concern, which was issued pursuant to Section 311 of the USA PATRIOT Act (Section 311). Subsequent to the issuance of this withdrawal, FinCEN will reassess whether BDA is presently a financial institution of primary money laundering concern and additional rulemaking is warranted. Elsewhere in this issue of the Federal Register, FinCEN is publishing a repeal of the related rulemaking, published March 19, 2007, imposing the fifth special measure against BDA.
Financial Crimes Enforcement Network; Repeal of Special Measure Involving Banco Delta Asia (BDA)
Document Number: 2020-17143
Type: Rule
Date: 2020-08-10
Agency: Department of the Treasury, Financial Crimes Enforcement Network
This rule repeals regulations concerning Special measures against Banco Delta Asia, which were issued pursuant to Section 311 of the USA PATRIOT Act (Section 311). Subsequent to the issuance of this rule, FinCEN will reassess whether BDA is presently a financial institution of primary money laundering concern and additional rulemaking is warranted. Elsewhere in this issue of the Federal Register, FinCEN is publishing a withdrawal of the finding regarding BDA, issued September 20, 2005.