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TREAS/FINCEN RIN: 1506-AB00 Publication ID: Spring 2009 
Title: ●Removal of Agents From the Definition of Money Services Business; Revision of Registration Requirements 
Abstract: The Financial Crimes Enforcement Network (FinCEN), a bureau of the Department of the Treasury (Treasury), is reviewing the regulations implementing the Bank Secrecy Act regarding money services businesses (MSBs) with a focus on enhancing its efficiency and effectiveness for the industry, regulators, law enforcement, and FinCEN in safeguarding the U.S. financial system from the abuses of terrorist financing, money laundering, and other financial crime. Our goal is to revise the MSB rules to reduce the number of entities defined as MSBs so that regulatory requirements are applied to those entities that are in the best position to ensure compliance. In this Advance Notice, we seek information from the public on two issues. First, we are reviewing the utility of revising the definition of MSB in the regulations implementing the Bank Secrecy Act (BSA regulations or BSA rules) to exclude persons who are currently MSBs solely because they are agents of other MSBs. In connection with such a change, we are reviewing the utility of having the principal MSBs, which currently are also MSBs and which would remain MSBs, incorporate these agents further into their anti-money laundering programs. Second, we are reviewing the MSB registration rule generally. In particular, FinCEN is considering the impact of: (a) making modifications to the registration procedure for MSBs; and (b) requiring MSBs, each of which currently is obligated to maintain a list of its agents and to update that list annually, to provide such information as part of its registration requirements so that the information may be more easily accessed by law enforcement. 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
CFR Citation: 31 CFR 103.11(uu)   
Legal Authority: 12 USC 1829b    18 USC 1951 to 1959    31 USC 5311 to 5314    31 USC 5316 to 5332   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Merged With 1506-AA98  01/29/2009    
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 
Related RINs: Related to 1506-AA97 
Agency Contact:
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