1506-AB50 202104 Unified Agenda of Federal Regulatory and Deregulatory Actions 1506 Financial Crimes Enforcement Network FINCEN 1500 Department of the Treasury TREAS Section 6110. Bank Secrecy Act Application to Dealers in Antiquities and Assessment of Bank Secrecy Act Application to Dealers in Arts

FinCEN intends to issue an Advance Notice of Proposed Rulemaking in order to implement Section 6110 of the Anti-Money Laundering Act of 2020 (the AML Act). This section amends the Bank Secrecy Act (31 U.S.C. 5312(a)(2)) to include as a financial institution a person engaged in the trade of antiquities, including an advisor, consultant, or any other person who engages as a business in the solicitation or the sale of antiquities, subject to regulations prescribed by the Secretary of the Treasury. The section further requires the Secretary of the Treasury to issue proposed rules to implement the amendment within 360 days of enactment of the AML Act.

]]> Economically Significant First Time Published in The Unified Agenda Prerule Stage Undetermined Undetermined 31 CFR 103 ch. X 12 U.S.C. 1829b 12 U.S.C. 1951 to 1959 31 U.S.C. 5311 to 5314 31 U.S.C. 5316 to 5336 Statutory NPRM 01/01/2022 Section 6110 of the AML Act of 2020 requires the Secretary of the Treasury to issue proposed rules to implement the amendment within 360 days of enactment of the AML Act. No ANPRM 07/00/2021 Yes Businesses None No No Yes No FinCEN Regulatory Support Section 1506 Financial Crimes Enforcement Network FINCEN 800 767-2825 frc@fincen.gov P.O. Box 39, Vienna VA 22183