View Rule

View EO 12866 Meetings Printer-Friendly Version     Download RIN Data in XML

TREAS/FINCEN RIN: 1506-AB55 Publication ID: Fall 2021 
Title: ●Section 6305. No Action Letter Program  

FinCEN will issue an Advance Notice of Proposed Rulemaking (ANPRM) following the implementation of Section 6305 of the Anti-Money Laundering Act of 2020 (the AML Act). This section required FinCEN to conduct an assessment on whether to issue no-action letters in response to specific conduct requests from third parties, and propose rulemaking if appropriate. The assessment concluded that FinCEN should issue no-action letters, subject to sufficient resources, and proposed rulemaking to follow the issuance of the report. The ANPRM will seek guidance on the contours of a FinCEN no-action letter process, and, if necessary and appropriate, may be followed by a Notice of Proposed Rulemaking establishing regulations to govern the process. The ANPRM also solicits feedback on FinCEN’s current forms of regulatory guidance and relief.

Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Prerule Stage 
Major: Undetermined  Unfunded Mandates: No 
CFR Citation: 31 CFR ch. X     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 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   
Legal Deadline:  None
Action Date FR Cite
ANPRM  06/00/2022 
ANPRM Comment Period End  08/00/2022 
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:
FinCEN Regulatory Support Section
Department of the Treasury
Financial Crimes Enforcement Network
P.O. Box 39,
Vienna, VA 22183
Phone:800 767-2825