1506-AB36 201804 Unified Agenda of Federal Regulatory and Deregulatory Actions 1506 Financial Crimes Enforcement Network FINCEN 1500 Department of the Treasury TREAS Amendments of the Definition of Broker or Dealer in Securities (Crowd Funding)

FinCEN, a bureau of the Department of the Treasury, is finalizing amendments to the regulatory definitions of "broker or dealer in securities" under the regulations implementing the Bank Secrecy Act. The changes are intended to expand the current scope of the definitions to include funding portals. In addition, these amendments would require funding portals to implement policies and procedures reasonably designed to achieve compliance with all of the Bank Secrecy Act requirements that are currently applicable to brokers or dealers in securities. The rule to require these organizations to comply with the Bank Secrecy Act regulations is intended to help prevent money laundering, terrorist financing, and other financial crimes.

NOTE: This is not a new requirement; it replaces RINs 1506-AB24 and 1506-AB29.

]]> Substantive, Nonsignificant Previously Published in The Unified Agenda Final Rule Stage No No Regulatory 31 CFR ch. X 31 CFR 1010.100(e) 31 U.S.C. 5311 to 5314 31 U.S.C. 5316 to 5332 No NPRM 04/04/2016 81 FR 19086 NPRM Comment Period End 06/03/2016 Final Action 08/00/2018 No No None No No No No 1506-AB24 Previously reported as 1506-AB29 Previously reported as Sandra Sojka Compliance Project Officer 1506 Financial Crimes Enforcement Network FINCEN 202 354-6020 202 354-6411 sandra.sojka@fincen.gov 1801 L Street NW., Washington DC 20036