1506-AB36 202404 Unified Agenda of Federal Regulatory and Deregulatory Actions 1506 Financial Crimes Enforcement Network FINCEN 1500 Department of the Treasury TREAS Amendments to the Definition of Broker or Dealer in Securities (Crowd Funding)

FinCEN 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 involved in the offering or selling of securities through crowdfunding pursuant to section 4(a)(6) of the Securities Act of 1933. 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.

]]> Other Significant Previously Published in The Unified Agenda Long-Term Actions No No 31 CFR Ch. X 31 CFR 1010.100(e) 12 U.S.C. 1829b 12 U.S.C. 1951 to 1960 31 U.S.C. 5311 to 5314 31 U.S.C. 5316 to 5336 No NPRM 04/04/2016 81 FR 19086 NPRM Comment Period End 06/03/2016 Final Action To Be Determined YES Businesses None No No Yes No 1506-AB24 Previously reported as 1506-AB29 Previously reported as FinCEN Regulatory Support Section 1506 Financial Crimes Enforcement Network FINCEN 800 767-2825 frc@fincen.gov P.O. Box 39, Vienna VA 22183