80_FR_60769 80 FR 60575 - Financial Crimes Enforcement Network; Withdrawal of the Proposed Rulemaking Against Lebanese Canadian Bank SAL

80 FR 60575 - Financial Crimes Enforcement Network; Withdrawal of the Proposed Rulemaking Against Lebanese Canadian Bank SAL

DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network

Federal Register Volume 80, Issue 194 (October 7, 2015)

Page Range60575-60576
FR Document2015-24912

This document withdraws FinCEN's February 17, 2011, proposed rulemaking to impose the fifth special measure against Lebanese Canadian Bank SAL (``LCB'') as a financial institution of primary money laundering concern, pursuant to the United States Code (U.S.C.).

Federal Register, Volume 80 Issue 194 (Wednesday, October 7, 2015) 
[Federal Register Volume 80, Number 194 (Wednesday, October 7, 2015)]
[Proposed Rules]
[Pages 60575-60576]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-24912]


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DEPARTMENT OF THE TREASURY

Financial Crimes Enforcement Network

31 CFR Part 1010

RIN 1506-AB11


Financial Crimes Enforcement Network; Withdrawal of the Proposed 
Rulemaking Against Lebanese Canadian Bank SAL

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

ACTION: Proposed rule; withdrawal.

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SUMMARY: This document withdraws FinCEN's February 17, 2011, proposed 
rulemaking to impose the fifth special measure against Lebanese 
Canadian Bank SAL (``LCB'') as a financial institution of primary money 
laundering concern, pursuant to the United States Code (U.S.C.).

DATES: As of October 7, 2015 the proposed rule published February 17, 
2011, at 76 FR 9268, is withdrawn.

[[Page 60576]]


FOR FURTHER INFORMATION CONTACT: The FinCEN Resource Center at (800) 
767-2825.

SUPPLEMENTARY INFORMATION:

I. Background

    The Bank Secrecy Act (``BSA''), codified at 12 U.S.C. 1829b, 12 
U.S.C. 1951-1959, and 31 U.S.C. 5311-5314 and 5316-5332, promotes the 
prevention, detection, and prosecution of money laundering, tax 
evasion, the financing of terrorism, and other financial crimes. 
Regulations implementing the BSA appear at 31 CFR Chapter X. The 
authority of the Secretary of the Treasury (``the Secretary'') to 
administer the BSA and its implementing regulations has been delegated 
to the Director of FinCEN.
    Section 5318A of the BSA grants the Secretary authority, upon 
finding that reasonable grounds exist for concluding that a foreign 
jurisdiction, foreign financial institution, class of international 
transactions, or type of account is of ``primary money laundering 
concern,'' to require domestic financial institutions and domestic 
financial agencies to take certain ``special measures'' against the 
primary money laundering concern.

II. The Finding, Notice of Proposed Rulemaking, and Subsequent 
Developments

A. The Notice of Finding and Notice of Proposed Rulemaking

    Based upon review and analysis of relevant information, 
consultations with relevant Federal agencies and departments, and after 
consideration of the factors enumerated in section 311, the Director of 
FinCEN found that reasonable grounds existed for concluding that LCB 
was a financial institution of primary money laundering concern. FinCEN 
published a proposed rule proposing to impose the fifth special measure 
on February 17, 2011, pursuant to the authority under 31 U.S.C. 
5318A.\1\
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    \1\ See 76 FR 9268 (February 17, 2011, RIN 1506-AB11).
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B. Subsequent Developments

    Since FinCEN's notice of proposed rulemaking, material facts 
regarding the circumstances of the proposed rulemaking have changed. On 
September 20, 2011, the Lebanese central bank and monetary authority, 
with control over bank supervision and regulation, the Banque du Liban 
(BDL), revoked the banking license of LCB and delisted LCB from the 
list of banks published by BDL. LCB's former shareholders sold its 
assets and liabilities to the Societ[eacute] Generale de Banque au 
Liban SAL (SGBL). Because of the action taken by the Lebanese banking 
authorities and the liquidation of the LCB's assets, LCB no longer 
exists as a foreign financial institution. FinCEN will therefore not 
proceed with the rule proposed on February 17, 2011.

III. Withdrawal of the Proposed Rule

    For the reasons set forth above, FinCEN hereby withdraws the 
February 17, 2011 proposed rule proposing to impose the fifth special 
measure authorized by 31 U.S.C. 5318A(b)(5) regarding LCB. FinCEN's 
withdrawal of the proposed rule does not acknowledge any remedial 
measure taken by LCB, but results from the fact that LCB no longer 
exists as a foreign financial institution due to the decision by its 
former shareholders to liquidate the bank and the revocation of its 
banking license.

Jennifer Shasky Calvery,
Director, Financial Crimes Enforcement Network.
[FR Doc. 2015-24912 Filed 10-6-15; 8:45 am]
 BILLING CODE 4810-02-P

Federal Register / Vol. 80, No. 194 / Wednesday, October 7, 2015 / Proposed Rules 60575 with FAA Order 1050.1E, Boundaries. Beginning at lat. 31°25′26″ N., long. 81°36′05″ W.; thence ‘‘Environmental Impacts: Policies and 31°38′01″ N., long. 81°28′59″ W.; to lat. northwest along the Altamaha River to Procedures,’’ prior to any FAA final 31°37′31″ N., long. 81°28′14″ W.; to lat. the point of beginning. regulatory action. 31°32′31″ N., long. 81°27′29″ W.; to lat. Using agency. ANG, Savannah 31°26′16″ N., long. 81°31′29″ W.; to lat. Combat Readiness Training Center List of Subjects in 14 CFR Part 73 31°25′26″ N., long. 81°36′05″ W.; to lat. (CRTC), Office of Townsend Bombing Airspace, Prohibited Areas, Restricted 31°27′26″ N., long. 81°33′39″ W.; to lat. Range, GA. Areas. 31°31′26″ N., long. 81°31′58″ W.; thence clockwise along a 1–NM radius arc from R–3007E Townsend, GA [New] The Proposed Amendment a point centered at lat. 31°32′26″ N., Boundaries. Beginning at lat. In consideration of the foregoing, the long. 81°31′49″ W.; to lat. 31°33′18″ N., 31°39′24″ N., long. 81°30′31′W.; to lat. Federal Aviation Administration long. 81°31′13″ W.; to the point of 31°38′01″ N., long. 81°28′59″ W.; to lat. proposes to amend 14 CFR part 73 as beginning. 31°33′18″ N., long. 81°31′13″ W.; thence follows: Using agency. ANG, Savannah counterclockwise along a 1–NM radius Combat Readiness Training Center arc from a point centered at lat. PART 73—SPECIAL USE AIRSPACE (CRTC), Office of Townsend Bombing 31°32′26″ N., long. 81°31′49″ W.; to lat. ■ 1. The authority citation for part 73 Range, GA. 31°33′07″ N., long. 81°32′41″ W.; to lat. continues to read as follows: R–3007C Townsend, GA [Amended] 31°34′17″ N., long. 81°31′56″ W.; to lat. Authority: 49 U.S.C. 106(f), 106(g); 40103, 31°36′35″ N., long. 81°31′15″ W.; to lat. By removing the current boundaries 31°37′49″ N.; long. 81°30′56″ W.; to the 40113, 40120; E.O. 10854, 24 FR 9565, 3 CFR, 1959–1963 Comp., p. 389. and using agency and inserting the point of beginning. following: Designated altitudes. 100 feet AGL to § 73.30 (Amended) Boundaries. Beginning at lat. but not including 13,000 feet MSL. ■ 2. § 73.30 is amended as follows: 31°37′54″ N., long. 81°47′21″ W.; to lat. Time of designation. 0700–2200 local * * * * * 31°41′52″ N., long. 81°35′53″ W.; to lat. time, Monday–Friday; other times by 31°40′48″ N., long. 81°35′33″ W,; to lat. NOTAM at least 24 hours in advance. R–3007A Townsend, GA [Amended] 31°40′29″ N., long. 81°36′13″ W.; to lat. Controlling agency. FAA, Jacksonville By removing the current boundaries 31°37′23″ N., long. 81°35′47″ W.; to lat. ARTCC. and using agency and inserting the 31°37′20″ N., long. 81°35′37″ W.; to lat. Using agency. ANG, Savannah following: 31°36′43″ N., long. 81°35′41″ W.; to lat. Combat Readiness Training Center Boundaries. Beginning at lat. 31°36′38″ N., long. 81°35′18″ W.; to lat. (CRTC), Office of Townsend Bombing 31°41′52″ N., long. 81°35′53″ W.; to lat. 31°35′55″ N., long. 81°35′19″ W.; to lat. Range, GA. 31°42′31″ N., long. 81°33′59″ W.; to lat. 31°35′32″ N., long. 81°35′59″ W.; to lat. 31°34′25″ N., long. 81°36′13″ W.; to lat. Issued in Washington, DC, on October 1, 31°39′24″ N., long. 81°30′31″ W.; to lat. 2015. 31°37′49″ N., long. 81°30′56″ W.; to lat. 31°33′30″ N., long. 81°36′32″ W.; to lat. 31°36′35″ N., long. 81°31′15″ W.; to lat. 31°33′04″ N., long. 81°37′27″ W.; to lat. Kenneth Ready, 31°34′17″ N., long. 81°31′56″ W.; to lat. 31°31′35″ N., long. 81°36′32″ W.; to lat. Acting Manager, Airspace Policy Group. 31°33′07″ N., long. 81°32′41″ W.; thence 31°31′13″ N., long. 81°35′02″ W.; to lat. [FR Doc. 2015–25542 Filed 10–6–15; 8:45 am] counterclockwise along a 1–NM radius 31°30′38″ N., long. 81°35′06″ W.; to lat. BILLING CODE 4910–13–P arc from a point centered at lat. 31°30′29″ N., long. 81°34′41″ W.; to lat. 31°32′26″ N., long. 81°31′49″ W.; to lat. 31°30′45″ N., long. 81°34′19″ W.; to lat. 31°32′37″ N., long. 81°32′58″ W.; to lat. 31°30′59″ N., long. 81°33′57″ W.; to lat. DEPARTMENT OF THE TREASURY 31°30′59″ N., long. 81°33′57″ W.; to lat. 31°32′37″ N., long. 81°32′58″ W.; thence 31°30′45″ N., long. 81°34′19″ W.; to lat. counterclockwise along a 1–NM radius Financial Crimes Enforcement Network 31°30′29″ N., long. 81°34′41″ W,; to lat. arc from a point centered at lat. 31°30′38″ N., long. 81°35′06″ W.; to lat. 31°32′26″ N., long. 81°31′49″ W.; to lat. 31 CFR Part 1010 31°31′13″ N., long. 81°35′02″ W.; to lat. 31°31′26″ N., long. 81°31′58″ W.; to lat. 31°31′35″ N., long. 91°36′32″ W.; to lat. 31°27′26″ N., long. 81°33′39″ W.; to lat. RIN 1506–AB11 31°33′04″ N., long. 81°37′27″ W.; to lat. 31°25′26″ N., long. 81°36′05″ W.; thence 31°33′30″ N., long. 81°36′32″ W.; to lat. west along the Altamaha River to the Financial Crimes Enforcement 31°34′25″ N., long. 81°36′13″ W.; to lat. point of beginning. Network; Withdrawal of the Proposed 31°35′32″ N., long. 81°35′59″ W,; to lat. Using agency. ANG, Savannah Rulemaking Against Lebanese 31°35′55″ N., long. 81°35′19″ W.; to lat. Combat Readiness Training Center Canadian Bank SAL 31°36′38″ N., long. 81°35′18″ W.; to lat. (CRTC), Office of Townsend Bombing 31°36′43″ N., long. 81°35′41″ W.; to lat. Range, GA. AGENCY: Financial Crimes Enforcement 31°37′20″ N., long. 81°35′37″ W.; to lat. Network (‘‘FinCEN’’), Treasury. R–3007D Townsend, GA [Amended] ACTION: Proposed rule; withdrawal. 31°37′23″ N., long. 81°35′47″ W.; to lat. 31°40′29″ N., long. 81°36′13″ W.; to lat. By removing the current boundaries and using agency and inserting the SUMMARY: This document withdraws 31°40′48″ N., long. 81°35′33″ W.; to the following: FinCEN’s February 17, 2011, proposed asabaliauskas on DSK5VPTVN1PROD with PROPOSALS point of beginning. Using agency. ANG, Savannah Boundaries. Beginning at lat. rulemaking to impose the fifth special Combat Readiness Training Center 31°37′54″ N., long. 81°47′21″ W.; to lat. measure against Lebanese Canadian (CRTC), Office of Townsend Bombing 31°41′52″ N., long. 81°35′53″ W.; to lat. Bank SAL (‘‘LCB’’) as a financial Range, GA. 31°42′31″ N., long. 81°33′59″ W.; to lat. institution of primary money laundering 31°39′24″ N., long. 81°30′31″ W.; to lat. concern, pursuant to the United States R–3007B Townsend, GA [Amended] 31°38′01″ N., long. 81°28′59″ W.; to lat. Code (U.S.C.). By removing the current boundaries 31°37′31″ N., long. 81°28′14″ W.; to lat. DATES: As of October 7, 2015 the and using agency and inserting the 31°32′31″ N., long. 81°27′29″ W.; to lat. proposed rule published February 17, following: 31°26′16″ N., long. 81°31′29″ W.; to lat. 2011, at 76 FR 9268, is withdrawn. VerDate Sep<11>2014 17:56 Oct 06, 2015 Jkt 238001 PO 00000 Frm 00006 Fmt 4702 Sfmt 4702 E:\FR\FM\07OCP1.SGM 07OCP1

60576 Federal Register / Vol. 80, No. 194 / Wednesday, October 7, 2015 / Proposed Rules FOR FURTHER INFORMATION CONTACT: The shareholders sold its assets and OAR–2014–0605 by one of the following FinCEN Resource Center at (800) 767– liabilities to the Societé Generale de methods: 2825. Banque au Liban SAL (SGBL). Because 1. www.regulations.gov: Follow the SUPPLEMENTARY INFORMATION: of the action taken by the Lebanese on-line instructions for submitting banking authorities and the liquidation comments. I. Background of the LCB’s assets, LCB no longer exists 2. Email: mcconnell.robert@epa.gov. The Bank Secrecy Act (‘‘BSA’’), as a foreign financial institution. 3. Fax: (617) 918–0046. codified at 12 U.S.C. 1829b, 12 U.S.C. FinCEN will therefore not proceed with 4. Mail: EPA–R01–OAR–2014–0605, 1951–1959, and 31 U.S.C. 5311–5314 the rule proposed on February 17, 2011. Bob McConnell, U.S. Environmental and 5316–5332, promotes the III. Withdrawal of the Proposed Rule Protection Agency, EPA New England prevention, detection, and prosecution Regional Office, 5 Post Office Square— of money laundering, tax evasion, the For the reasons set forth above, Suite 100, (Mail code OEP05–2), Boston, financing of terrorism, and other FinCEN hereby withdraws the February MA 02109–3912. financial crimes. Regulations 17, 2011 proposed rule proposing to 5. Hand Delivery or Courier. Deliver implementing the BSA appear at 31 CFR impose the fifth special measure your comments to: Bob McConnell, Chapter X. The authority of the authorized by 31 U.S.C. 5318A(b)(5) Acting Manager, Air Quality Planning Secretary of the Treasury (‘‘the regarding LCB. FinCEN’s withdrawal of Unit, Office of Ecosystem Protection, Secretary’’) to administer the BSA and the proposed rule does not acknowledge U.S. Environmental Protection Agency, its implementing regulations has been any remedial measure taken by LCB, but EPA New England Regional Office, 5 delegated to the Director of FinCEN. results from the fact that LCB no longer Post Office Square—Suite 100, (Mail Section 5318A of the BSA grants the exists as a foreign financial institution code OEP05–2), Boston, MA 02109– Secretary authority, upon finding that due to the decision by its former 3912. Such deliveries are only accepted reasonable grounds exist for concluding shareholders to liquidate the bank and during the Regional Office’s normal that a foreign jurisdiction, foreign the revocation of its banking license. hours of operation. The Regional financial institution, class of Jennifer Shasky Calvery, Office’s official hours of business are international transactions, or type of Director, Financial Crimes Enforcement Monday through Friday, 8:30 a.m. to account is of ‘‘primary money Network. 4:30 p.m., excluding legal holidays. laundering concern,’’ to require [FR Doc. 2015–24912 Filed 10–6–15; 8:45 am] Please see the direct final rule which domestic financial institutions and BILLING CODE 4810–02–P is located in the Rules Section of this domestic financial agencies to take Federal Register for detailed certain ‘‘special measures’’ against the instructions on how to submit primary money laundering concern. comments. ENVIRONMENTAL PROTECTION II. The Finding, Notice of Proposed AGENCY FOR FURTHER INFORMATION CONTACT: Rulemaking, and Subsequent Anne McWilliams, Air Quality Unit, Developments 40 CFR Part 52 U.S. Environmental Protection Agency, A. The Notice of Finding and Notice of EPA New England Regional Office, 5 [EPA–R01–OAR–2014–0605; A–1–FRL– Post Office Square—Suite 100, (Mail Proposed Rulemaking 9935–30–Region 1] code OEP05–2), Boston, MA 02109– Based upon review and analysis of 3912, telephone number (617) 918– relevant information, consultations with Approval and Promulgation of Air Quality Implementation Plans; Rhode 1697, fax number (617) 918–0697, email relevant Federal agencies and mcwilliams.anne@epa.gov. departments, and after consideration of Island; Sulfur Content of Fuels SUPPLEMENTARY INFORMATION: In the the factors enumerated in section 311, AGENCY: Environmental Protection the Director of FinCEN found that Final Rules Section of this Federal Agency (EPA). Register, EPA is approving the State’s reasonable grounds existed for ACTION: Proposed rule. SIP submittals as a direct final rule concluding that LCB was a financial institution of primary money laundering without prior proposal because the SUMMARY: The Environmental Protection Agency views this as a noncontroversial concern. FinCEN published a proposed Agency (EPA) is proposing to approve a rule proposing to impose the fifth submittal and anticipates no adverse State Implementation Plan (SIP) comments. A detailed rationale for the special measure on February 17, 2011, revision submitted by the State of Rhode pursuant to the authority under 31 approval is set forth in the direct final Island on June 26, 2014, with rule. If no adverse comments are U.S.C. 5318A.1 supplemental submittals on March 25, received in response to this rule, no B. Subsequent Developments 2015 and August 28, 2015. This SIP further activity is contemplated. If EPA revision includes a regulation that has receives adverse comments, the direct Since FinCEN’s notice of proposed been revised to require a lower sulfur rulemaking, material facts regarding the final rule will be withdrawn and all content for petroleum-based distillate public comments received will be circumstances of the proposed and residual fuel oils. In addition, rulemaking have changed. On addressed in a subsequent final rule outdated provisions in the regulation based on this proposed rule. EPA will asabaliauskas on DSK5VPTVN1PROD with PROPOSALS September 20, 2011, the Lebanese have been removed. The intended effect central bank and monetary authority, not institute a second comment period. of this action is to propose approval of Any parties interested in commenting with control over bank supervision and this regulation into the Rhode Island regulation, the Banque du Liban (BDL), on this action should do so at this time. SIP. This action is being taken in Please note that if EPA receives adverse revoked the banking license of LCB and accordance with the Clean Air Act. delisted LCB from the list of banks comment on an amendment, paragraph, DATES: Written comments must be or section of this rule and if that published by BDL. LCB’s former received on or before November 6, 2015. provision may be severed from the 1 See 76 FR 9268 (February 17, 2011, RIN 1506– ADDRESSES: Submit your comments, remainder of the rule, EPA may adopt AB11). identified by Docket ID No. EPA–R01– as final those provisions of the rule that VerDate Sep<11>2014 17:56 Oct 06, 2015 Jkt 238001 PO 00000 Frm 00007 Fmt 4702 Sfmt 4702 E:\FR\FM\07OCP1.SGM 07OCP1


Document Created: 2015-12-15 08:49:07
Document Modified: 2015-12-15 08:49:07
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionProposed Rules
ActionProposed rule; withdrawal.
DatesAs of October 7, 2015 the proposed rule published February 17, 2011, at 76 FR 9268, is withdrawn.
ContactThe FinCEN Resource Center at (800) 767-2825.
FR Citation80 FR 60575 
RIN Number1506-AB11
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