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TREAS/FINCEN | RIN: 1506-AA90 | Publication ID: Fall 2008 |
Title: Financial Crimes Enforcement Network; Proposed Amendments to the Bank Secrecy Act RegulationsExemptions From the Requirement To Report Transactions in Currency; Comment Request | |
Abstract: FinCEN is proposing rules to further reform and simplify the process by which banks may exempt transactions of certain persons from the requirement to report transactions in currency in excess of $10,000. We are also providing notice and requesting comments on proposed special instructions to the Designation of Exempt Persons form, FinCEN Form 110, which correspond to the proposed changes to the regulatory text being made in this notice. Finally, we are proposing technical corrections and edits to the rules. Modification of the currency transaction report exemption procedures is an additional step in the Department of the Treasurys continuing program to increase the efficiency and effectiveness of the counter-money laundering and anti-terrorist financing policies of the Department of the Treasury. | |
Agency: Department of the Treasury(TREAS) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 31 CFR 103.22(d) | |
Legal Authority: 12 USC 1829b 12 USC 1951 to 1959 31 USC 5311 to 5330 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: No | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Conici Blount Regulatory Policy Specialist Department of the Treasury Financial Crimes Enforcement Network 1801 L Street NW., Washington, DC 20036 Phone:202 354-6397 Fax:202 354-6411 Email: conici.blount@fincen.gov Russell G. Stephenson Senior Program Manager, Policy Division Department of the Treasury Financial Crimes Enforcement Network 1801 L Street NW., Washington, DC 20036 Phone:202 354-6012 Fax:202 354-6411 Email: russell.stephenson@fincen.gov |