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FRS RIN: 7100-AD15 Publication ID: Spring 2009 
Title: Regulation GG--Prohibition on Funding of Unlawful Internet Gambling (Docket No. R-1298) 
Abstract: On October 13, 2006, the President signed into law the Unlawful Internet Gambling Enforcement Act of 2006, (the Act). The Act requires the Department of the Treasury and the Board of Governors of the Federal Reserve System (collectively the Agencies) to promulgate regulations to implement applicable provisions of the Act before the end of the 270-day period beginning on the date of enactment. The Agencies published a proposed rule on October 1, 2007, and the public comment period closed on December 12, 2007. The Agencies published a joint final rule on November 18, 2008 (73 FR 68382). In accordance with the requirements of the Act, the final rule designates certain payment systems that could be used in connection with unlawful Internet gambling transactions restricted by the Act. The final rule requires participants in designated payment systems to establish policies and procedures reasonably designed to identify and block or otherwise prevent or prohibit transactions in connection with unlawful Internet gambling. As required by the Act, the final rule exempts certain participants in designated payment systems from the requirements to establish such policies and procedures because the Agencies believe it is not reasonably practical for those participants to identify and block, or otherwise prevent or prohibit, unlawful Internet gambling transactions restricted by the Act. Finally, the final rule describes the types of policies and procedures that non-exempt participants in each type of designated payment system may adopt in order to comply with the Act and includes non-exclusive examples of policies and procedures the Agencies deem to be reasonably designed to prevent or prohibit unlawful Internet gambling transactions restricted by the Act. 
Agency: Federal Reserve System(FRS)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: Yes  Unfunded Mandates: No 
CFR Citation: 12 CFR 233   
Legal Authority: 31 USC 5361 et seq   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Board Requested Comment  10/04/2007  72 FR 56680   
Board Adopted Final Rule  11/18/2008  73 FR 69382   
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Chris Clubb
Special Counsel
Federal Reserve System
Legal Division,
Phone:202 452-3904