80 FR 42610 - Proposed Renewal; Comment Request; Anti-Money Laundering Programs for Precious Metals, Precious Stones, or Jewels

DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network

Federal Register Volume 80, Issue 137 (July 17, 2015)

Page Range		42610-42611
FR Document		2015-17627

As part of our continuing effort to reduce paperwork and respondent burden, we invite comment on a proposed renewal, without change, to information collections found in existing regulations requiring dealers in precious metals, stones, or jewels, to develop and implement written anti-money laundering programs reasonably designed to prevent financial institutions from being used to facilitate money laundering and the financing of terrorist activities. This request for comments is being made pursuant to the Paperwork Reduction Act of 1995, Public Law 104-13, 44 U.S.C. 3506(c)(2)(A).

Federal Register, Volume 80 Issue 137 (Friday, July 17, 2015)

[Federal Register Volume 80, Number 137 (Friday, July 17, 2015)]
[Notices]
[Pages 42610-42611]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-17627]


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DEPARTMENT OF THE TREASURY

Financial Crimes Enforcement Network


Proposed Renewal; Comment Request; Anti-Money Laundering Programs 
for Precious Metals, Precious Stones, or Jewels

AGENCY: Financial Crimes Enforcement Network (``FinCEN''), Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

SUMMARY: As part of our continuing effort to reduce paperwork and 
respondent burden, we invite comment on a proposed renewal, without 
change, to information collections found in existing regulations 
requiring dealers in precious metals, stones, or jewels, to develop and 
implement written anti-money laundering programs reasonably designed to 
prevent financial institutions from being used to facilitate money 
laundering and the financing of terrorist activities. This request for 
comments is being made pursuant to the Paperwork Reduction Act of 1995, 
Public Law 104-13, 44 U.S.C. 3506(c)(2)(A).

DATES: Written comments are welcome and must be received on or before 
September 15, 2015.

ADDRESSES: Written comments should be submitted to: Financial Crimes 
Enforcement Network, P.O. Box 39, Vienna, VA 22183, Attention: Anti-
Money Laundering Program Comments. Comments also may be submitted by 
electronic mail to the following Internet address: 
regcomments@fincen.gov, again with a caption, in the body of the text, 
``Attention: Anti-Money Laundering Program Comments.''
    Inspection of comments. Persons wishing to inspect the comments 
submitted must request an appointment with the Disclosure Officer by 
telephoning (703) 905-5034 (Not a toll free call).

FOR FURTHER INFORMATION CONTACT: FinCEN Resource Center at 1-800-767-
2825 or 1-703-905-3591 (not a toll free number) and select option 3 for 
regulatory questions. Email inquiries can be sent to FRC@fincen.gov.

SUPPLEMENTARY INFORMATION:
    Abstract: FinCEN exercises regulatory functions primarily under the 
Currency and Financial Transactions Reporting Act of 1970, as amended 
by the USA PATRIOT Act of 2001 and other legislation. This legislative 
framework is commonly referred to as the ``Bank Secrecy Act'' 
(``BSA'').\1\ The Secretary of the Treasury has delegated to the 
Director of FinCEN the authority to implement, administer, and enforce 
compliance with the BSA and associated regulations.\2\ Pursuant to this 
authority, FinCEN may issue regulations requiring financial 
institutions to keep records and file reports that ``have a high degree 
of usefulness in criminal, tax, or regulatory investigations or 
proceedings, or in the conduct of intelligence or counterintelligence 
activities, including analysis, to protect against international 
terrorism.\3\ Additionally, FinCEN is authorized to impose regulations 
to maintain procedures to ensure compliance with the BSA and FinCEN's 
implementing regulations, or to guard against money laundering, which 
includes imposing anti-money laundering (``AML'') program requirements 
on financial institutions.\4\
---------------------------------------------------------------------------

    \1\ The BSA is codified at 12 U.S.C. 1829b, 12 U.S.C. 1951-1959, 
31 U.S.C. 5311-5314 and 5316-5332 and notes thereto, with 
implementing regulations at 31 CFR Chapter X. See 31 CFR 
1010.100(e).
    \2\ Treasury Order 180-01 (Jul. 1, 2014).
    \3\ 31 U.S.C. 5311.
    \4\ 31 U.S.C. 5318(a) and (h).
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    Regulations implementing section 5318(h)(1) of the Act are found in 
part at 31 CFR 1027.210. In general, the regulations require financial 
institutions, as defined in 31 U.S.C. 5312(a)(2) and 31 CFR 1010.100 to 
establish, document, and maintain anti-money laundering programs as an 
aid in protecting and securing the U.S. financial system.
    1. Title: Anti-money laundering programs for dealers in precious 
metals, precious stones, or jewels (31 CFR 1027.210).
    OMB Control Number: 1505-0030.
    Abstract: Dealers in precious metals, precious stones, or jewels 
are required to establish and maintain written anti-money laundering 
programs. A copy of the written program must be maintained for five 
years.
    Current Action: There is no change to existing regulations.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: Business and other for-profit institutions.
    Burden:

Estimated Number of Respondents = 20,000.
Estimated Number of Responses = 20,000.
Estimated Number of Hours = 20,000

An agency may not conduct or sponsor, and a person is not required to 
respond to, a collection of information unless it displays a valid 
control number assigned by the Office of Management

[[Page 42611]]

and Budget. Records required to be retained under the Bank Secrecy Act 
must be retained for five years. Generally, information collected 
pursuant to the Bank Secrecy Act is confidential but may be shared as 
provided by law with regulatory and law enforcement authorities.
    Request for Comments:
    Comments submitted in response to this notice will be summarized 
and/or included in the request for Office of Management and Budget 
approval. All comments will become a matter of public record. Comments 
are invited on: (a) Whether the collection of information is necessary 
for the proper performance of the functions of the agency, including 
whether the information shall have practical utility; (b) the accuracy 
of the agency's estimate of the burden of the collection of 
information; (c) ways to enhance the quality, utility, and clarity of 
the information to be collected; (d) ways to minimize the burden of the 
collection of information on respondents, including through the use of 
automated collection techniques or other forms of information 
technology; and (e) estimates of capital or start-up costs and costs of 
operation, maintenance and purchase of services to provide information.

    Dated: July 13, 2015.
Jennifer Shasky Calvery,
Director, Financial Crimes Enforcement Network.
[FR Doc. 2015-17627 Filed 7-16-15; 8:45 am]
 BILLING CODE 4810-02-P

42610 Federal Register / Vol. 80, No. 137 / Friday, July 17, 2015 / Notices

Information collected on the CMIR is DEPARTMENT OF THE TREASURY the Treasury has delegated to the
made available, in accordance with Director of FinCEN the authority to
strict safeguards, to appropriate criminal Financial Crimes Enforcement Network implement, administer, and enforce
law enforcement and regulatory compliance with the BSA and
personnel in the official performance of Proposed Renewal; Comment associated regulations.2 Pursuant to this
their duties. The information collected Request; Anti-Money Laundering authority, FinCEN may issue regulations
is of use in investigations involving Programs for Precious Metals, requiring financial institutions to keep
international and domestic money Precious Stones, or Jewels records and file reports that ‘‘have a
laundering, tax evasion, fraud, and other AGENCY: Financial Crimes Enforcement high degree of usefulness in criminal,
financial crimes. Network (‘‘FinCEN’’), Treasury. tax, or regulatory investigations or
Current Actions: Renewal without ACTION: Notice and request for proceedings, or in the conduct of
change. comments. intelligence or counterintelligence
activities, including analysis, to protect
Type of Review: Renewal of a SUMMARY: As part of our continuing against international terrorism.3
currently approved collection. effort to reduce paperwork and Additionally, FinCEN is authorized to
Affected Public: Individuals, business respondent burden, we invite comment impose regulations to maintain
or other for-profit institutions, and not- on a proposed renewal, without change, procedures to ensure compliance with
for-profit institutions. to information collections found in the BSA and FinCEN’s implementing
Estimated Number of Respondents: existing regulations requiring dealers in regulations, or to guard against money
280,000. precious metals, stones, or jewels, to laundering, which includes imposing
develop and implement written anti- anti-money laundering (‘‘AML’’)
Estimated Time Per Respondent: 30 money laundering programs reasonably program requirements on financial
minutes. designed to prevent financial institutions.4
Estimated Total Annual Burden institutions from being used to facilitate Regulations implementing section
Hours: 140,000 hours. money laundering and the financing of 5318(h)(1) of the Act are found in part
An agency may not conduct or terrorist activities. This request for at 31 CFR 1027.210. In general, the
sponsor, and a person is not required to comments is being made pursuant to the regulations require financial
respond to, a collection of information Paperwork Reduction Act of 1995, institutions, as defined in 31 U.S.C.
unless the collection of information Public Law 104–13, 44 U.S.C. 5312(a)(2) and 31 CFR 1010.100 to
displays a valid OMB control number. 3506(c)(2)(A). establish, document, and maintain anti-
Records required to be retained under DATES: Written comments are welcome money laundering programs as an aid in
the BSA must be retained for five years. and must be received on or before protecting and securing the U.S.
Generally, information collected September 15, 2015. financial system.
pursuant to the BSA is confidential, but 1. Title: Anti-money laundering
ADDRESSES: Written comments should
may be shared as provided by law with programs for dealers in precious metals,
be submitted to: Financial Crimes
regulatory and law enforcement precious stones, or jewels (31 CFR
Enforcement Network, P.O. Box 39,
authorities. 1027.210).
Vienna, VA 22183, Attention: Anti-
OMB Control Number: 1505–0030.
Request for Comments: Comments Money Laundering Program Comments. Abstract: Dealers in precious metals,
submitted in response to this notice will Comments also may be submitted by precious stones, or jewels are required
be summarized and/or included in the electronic mail to the following Internet to establish and maintain written anti-
request for OMB approval. All address: regcomments@fincen.gov, again money laundering programs. A copy of
comments will become a matter of with a caption, in the body of the text, the written program must be maintained
public record. Comments are invited on: ‘‘Attention: Anti-Money Laundering for five years.
(a) Whether the collection of Program Comments.’’ Current Action: There is no change to
information is necessary for the proper Inspection of comments. Persons
existing regulations.
performance of the functions of the wishing to inspect the comments Type of Review: Extension of a
agency, including whether the submitted must request an appointment currently approved information
information shall have practical utility; with the Disclosure Officer by collection.
(b) the accuracy of the agency’s estimate telephoning (703) 905–5034 (Not a toll Affected Public: Business and other
of the burden of the collection of free call). for-profit institutions.
information; (c) ways to enhance the FOR FURTHER INFORMATION CONTACT: Burden:
quality, utility, and clarity of the FinCEN Resource Center at 1–800–767– Estimated Number of Respondents =
information to be collected; (d) ways to 2825 or 1–703–905–3591 (not a toll free 20,000.
minimize the burden of the collection of number) and select option 3 for Estimated Number of Responses =
information on respondents, including regulatory questions. Email inquiries 20,000.
through the use of automated collection can be sent to FRC@fincen.gov. Estimated Number of Hours = 20,000
techniques or other forms of information SUPPLEMENTARY INFORMATION: An agency may not conduct or sponsor,
technology; and (e) estimates of capital Abstract: FinCEN exercises regulatory
and a person is not required to respond
or start-up costs and costs of operation, functions primarily under the Currency
to, a collection of information unless it
maintenance, and purchase of services and Financial Transactions Reporting
displays a valid control number
srobinson on DSK5SPTVN1PROD with NOTICES

to provide information. Act of 1970, as amended by the USA
assigned by the Office of Management
Dated: July 13, 2015. PATRIOT Act of 2001 and other
legislation. This legislative framework is 5332 and notes thereto, with implementing
Jennifer Shasky Calvery,
commonly referred to as the ‘‘Bank regulations at 31 CFR Chapter X. See 31 CFR
Director, Financial Crimes Enforcement
Secrecy Act’’ (‘‘BSA’’).1 The Secretary of 1010.100(e).
Network 2 Treasury Order 180–01 (Jul. 1, 2014).
[FR Doc. 2015–17624 Filed 7–16–15; 8:45 am] 1 The BSA is codified at 12 U.S.C. 1829b, 12 3 31 U.S.C. 5311.

BILLING CODE 4810–02–P U.S.C. 1951–1959, 31 U.S.C. 5311–5314 and 5316– 4 31 U.S.C. 5318(a) and (h).

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Federal Register / Vol. 80, No. 137 / Friday, July 17, 2015 / Notices 42611

and Budget. Records required to be ADDRESSES: Direct all written comments technology; and (e) estimates of capital
retained under the Bank Secrecy Act to Bureau of the Fiscal Service, Bruce A. or start-up costs and costs of operation,
must be retained for five years. Sharp, 200 Third Street A4–A, maintenance, and purchase of services
Generally, information collected Parkersburg, WV 26106–1328, or bruce. to provide information.
pursuant to the Bank Secrecy Act is sharp@fiscal.treasury.gov. Dated: December 23, 2014.
confidential but may be shared as FOR FURTHER INFORMATION CONTACT: Bruce A. Sharp,
provided by law with regulatory and Requests for additional information or Bureau Clearance Officer.
law enforcement authorities. copies should be directed to Melvin
Request for Comments: Saunders, Supervisor, Surety Bond Editorial Note: This document was
Comments submitted in response to Section, 3700 East West Highway, Room received for publication by the Office of the
this notice will be summarized and/or 6D22, Hyattsville, MD 20782, (202) 874– Federal Register on July 14, 2015.
included in the request for Office of 5283. [FR Doc. 2015–17636 Filed 7–16–15; 8:45 am]
Management and Budget approval. All SUPPLEMENTARY INFORMATION: BILLING CODE 4810–AS–P
comments will become a matter of Title: States Where Licensed for
public record. Comments are invited on: Surety
(a) Whether the collection of OMB Number: 1530–0009 (Previously DEPARTMENT OF THE TREASURY
information is necessary for the proper approved as 1510–0013 as a collection
performance of the functions of the Bureau of the Fiscal Service
conducted by Department of the
agency, including whether the Treasury/Financial Management Proposed Collection of Information:
information shall have practical utility; Service.) Transfer of OMB Control Collateral Security Resolution and
(b) the accuracy of the agency’s estimate Number: The Bureau of Public Debt Collateral Pledge and Security
of the burden of the collection of (BPD) and the Financial Management Agreement
information; (c) ways to enhance the Service (FMS) have consolidated to
quality, utility, and clarity of the become the Bureau of the Fiscal Service Notice and request for
ACTION:
information to be collected; (d) ways to (Fiscal Service). Information collection comments.
minimize the burden of the collection of requests previously held separately by
information on respondents, including BPD and FMS will now be identified by SUMMARY: The Department of the
through the use of automated collection a 1530 prefix, designating Fiscal Treasury, as part of its continuing effort
techniques or other forms of information Service. to reduce paperwork and respondent
technology; and (e) estimates of capital Abstract: Information is collected burden, invites the general public and
or start-up costs and costs of operation, from insurance companies in order to other Federal agencies to take this
maintenance and purchase of services to provide Federal bond approving officers opportunity to comment on a proposed
provide information. with this information. The listing of and/or continuing information
Dated: July 13, 2015. states, by company, appears in collection, as required by the Paperwork
Treasury’s Circular 570, ‘‘Surety Reduction Act of 1995, Public Law 104–
Jennifer Shasky Calvery,
Companies Acceptable on Federal 13 (44 U.S.C. 3506(c)(2)(A)). Currently
Director, Financial Crimes Enforcement the Bureau of the Fiscal Service within
Network. Bonds.’’
Current Actions: Extension of a the Department of the Treasury is
[FR Doc. 2015–17627 Filed 7–16–15; 8:45 am]
currently approved collection. soliciting comments concerning
BILLING CODE 4810–02–P ‘‘Collateral Security Resolution’’ and
Type of Review: Regular.
Affected Public: Business or other for- ‘‘Collateral Pledge and Security
profit. Agreement.’’
DEPARTMENT OF THE TREASURY
Estimated Number of Respondents: DATES: Written comments should be
Bureau of the Fiscal Service 262. received on or before September 15,
Estimated Time per Respondent: 1 2015 to be assured of consideration.
Proposed Collection of Information: hours. ADDRESSES: Direct all written comments
States Where Licensed for Surety Estimated Total Annual Burden and requests for further information to
Hours: 262. Bureau of the Fiscal Service, Bruce A.
Notice and request for
ACTION: Request for Comments: Comments Sharp, 200 Third Street A4–A,
comments. submitted in response to this notice will Parkersburg, WV 26106–1328, or
be summarized and/or included in the bruce.sharp@fiscal.treasury.gov.
SUMMARY: The Department of the request for OMB approval. All
Treasury, as part of its continuing effort FOR FURTHER INFORMATION CONTACT:
comments will become a matter of
to reduce paperwork and respondent public record. Comments are invited on: Requests for additional information or
burden, invites the general public and (a) Whether the collection of copies of the form(s) and instructions
other Federal agencies to take this information is necessary for the proper should be directed to Mark Stromer,
opportunity to comment on a proposed performance of the functions of the Bank Policy and Oversight Division,
and/or continuing information agency, including whether the Room 314, 401 14th Street SW., Liberty
collection, as required by the Paperwork information shall have practical utility; Center Building, Washington, DC 20227,
Reduction Act of 1995, Public Law 104– (b) the accuracy of the agency’s estimate 202–874–7018, or mark.stromer@
13 (44 U.S.C. 3506(c)(2)(A). Currently of the burden of the collection of fiscal.treasury.gov.
srobinson on DSK5SPTVN1PROD with NOTICES

the Bureau of the Fiscal Service within information; (c) ways to enhance the SUPPLEMENTARY INFORMATION:
the Department of the Treasury is quality, utility, and clarity of the Titles: Collateral Security Resolution
soliciting comments concerning the information to be collected; (d) ways to and Collateral Pledge and Security
‘‘States Where Licensed for Surety.’’ minimize the burden of the collection of Agreement.
DATES: Written comments should be information on respondents, including OMB Number: 1530–0017 (Previously
received on or before September 15, through the use of automated collection approved as 1510–0067 as a collection
2015 to be assured of consideration. techniques or other forms of information conducted by Department of the

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Document Created: 2018-02-23 09:21:23
Document Modified: 2018-02-23 09:21:23

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Notice and request for comments.
Dates		Written comments are welcome and must be received on or before September 15, 2015.
Contact		FinCEN Resource Center at 1-800-767- 2825 or 1-703-905-3591 (not a toll free number) and select option 3 for regulatory questions. Email inquiries can be sent to [email protected]
FR Citation		80 FR 42610

80 FR 42610 - Proposed Renewal; Comment Request; Anti-Money Laundering Programs for Precious Metals, Precious Stones, or Jewels

DEPARTMENT OF THE TREASURYFinancial Crimes Enforcement Network

Federal Register Volume 80, Issue 137 (July 17, 2015)

DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network