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TREAS/FINCEN RIN: 1506-AB36 Publication ID: Fall 2019 
Title: Amendments of the Definition of Broker or Dealer in Securities (Crowd Funding) 
Abstract:

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. 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.

 
Agency: Department of the Treasury(TREAS)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
EO 13771 Designation: Regulatory 
CFR Citation: 31 CFR ch. X    31 CFR 1010.100(e)     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 31 U.S.C. 5311 to 5314    31 U.S.C. 5316 to 5332   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  04/04/2016  81 FR 19086   
NPRM Comment Period End  06/03/2016 
Final Action  01/00/2020 
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: Previously reported as 1506-AB24, Previously reported as 1506-AB29 
Agency Contact:
FinCEN Resource Center
Department of the Treasury
Financial Crimes Enforcement Network
P.O. Box 39,
Vienna, VA 22183
Phone:800 767-2825
Email: frc@fincen.gov