81_FR_77077 81 FR 76863 - Technical Amendments to Various Bank Secrecy Act Regulations

81 FR 76863 - Technical Amendments to Various Bank Secrecy Act Regulations

DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network

Federal Register Volume 81, Issue 214 (November 4, 2016)

Page Range76863-76865
FR Document2016-26557

FinCEN is issuing this final rule to make a number of technical amendments. This final rule updates various sections of the regulations implementing the Bank Secrecy Act (``BSA'') by removing or replacing outdated references to obsolete BSA forms, removing references to outdated recordkeeping storage media, and replacing several other outdated terms and references.

Federal Register, Volume 81 Issue 214 (Friday, November 4, 2016) 
[Federal Register Volume 81, Number 214 (Friday, November 4, 2016)]
[Rules and Regulations]
[Pages 76863-76865]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-26557]


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DEPARTMENT OF THE TREASURY

Financial Crimes Enforcement Network

31 CFR Parts 1010, 1020, 1021, 1022, 1023, 1024, 1025, and 1026

RIN 1506-AB32


Technical Amendments to Various Bank Secrecy Act Regulations

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

ACTION: Final rule.

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SUMMARY: FinCEN is issuing this final rule to make a number of 
technical amendments. This final rule updates various sections of the 
regulations implementing the Bank Secrecy Act (``BSA'') by removing or 
replacing outdated references to obsolete BSA forms, removing 
references to outdated recordkeeping storage media, and replacing 
several other outdated terms and references.

DATES: Effective November 4, 2016.

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 [email protected].

SUPPLEMENTARY INFORMATION:

I. Statutory and Regulatory Background

    The BSA, Titles I and II of Public Law 91-508, as amended, codified 
at 12 U.S.C. 1829b, 12 U.S.C. 1951-1959, and 31 U.S.C. 5311-5314 and 
5316-5332, authorizes the Secretary of the Treasury (``Secretary''), 
among other things, to issue regulations requiring persons to keep 
records and file reports that are determined to have a high degree of 
usefulness in criminal, tax, regulatory, and counter-terrorism matters. 
The regulations implementing the BSA appear at 31 CFR chapter X. The 
Secretary's authority to administer the BSA has been delegated to the 
Director of FinCEN.\1\
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    \1\ Treasury Order 180-01 (Sept. 26, 2002).
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II. Discussion of Changes

    In 2010, FinCEN reorganized the BSA's implementing regulations 
previously appearing in part 103 of title 31 of the Code of Federal 
Regulations by transferring them to a new chapter in title 31--chapter 
X.\2\ When chapter X was published, BSA reporting forms were specific 
to particular segments of the financial industry, and the names of 
those industry-specific forms currently appear in chapter X. FinCEN has 
since revised a number of forms so that they may be used by a range of 
industry segments and no longer carry industry-specific designations. 
The transition from industry-specific forms began by replacing the 
various currency transaction reports previously used by different 
industry segments, with an industry-wide, single BSA form for currency 
transactions--the Bank Secrecy Act Currency Transaction Report. FinCEN 
has also replaced the five industry-specific suspicious activity 
reports with a combined suspicious activity report, the Bank Secrecy 
Act Suspicious Activity Report, which is now used by various financial 
industry segments. This final rule revises the BSA regulations by 
updating them to reflect the names of the new reports.
---------------------------------------------------------------------------

    \2\ See 75 FR 5806 (Oct. 26, 2010).
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    A number of recordkeeping requirements in 31 CFR chapter X refer to 
the use of a type of data storage media--microfilm--that is no longer 
in wide use (or in many cases not even available) for copies of records 
required to be kept. This final rule removes those outdated references. 
If, however, a financial institution continues to use microfilm for 
copies, the rule change does not require the financial institution to 
use a different type of media for copies, nor does it require existing 
copies that were made on microfilm to be transferred to newer types of 
media.
    Finally, this final rule replaces several other outdated terms or 
references where appropriate such as the reference to filing reports 
with the Commissioner of Internal Revenue (``IRS''). Effective July 1, 
2011, all BSA reports are electronically filed with FinCEN, not the 
IRS.

III. Administrative Procedure Act and Effective Date

    Under 5 U.S.C. 553(b)(3)(B) of the Administrative Procedure Act 
(``APA''), an agency may, for good cause, find (and incorporate the 
finding and a brief statement of reasons in the rules issued)

[[Page 76864]]

that notice and public comment procedure on a rule is impracticable, 
unnecessary, or contrary to the public interest. Currently, 31 CFR 
chapter X contains references to outdated forms/reports and dated 
terminology that may be confusing to the public. The rule solely 
clarifies those terms and references and makes no substantive change to 
any reporting requirement. For these reasons, the agency has determined 
that publishing a notice of proposed rulemaking and providing 
opportunity for public comment is unnecessary.
    Under 5 U.S.C. 553(d)(3) of the APA, the required publication or 
service of a substantive rule shall be made not less than 30 days 
before its effective date, except, among other things, as provided by 
the agency for good cause found and published with the rule. FinCEN 
finds that there is good cause for shortened notice since the revisions 
made by this final rule are minor, non-substantive, and technical. This 
final rule takes effect November 4, 2016.

IV. Regulatory Flexibility Act

    The Regulatory Flexibility Act (``RFA'') does not apply to a 
rulemaking where a general notice of proposed rulemaking is not 
required.\3\ As noted previously, FinCEN has determined that it is 
unnecessary to publish a notice of proposed rulemaking for this final 
rule. Accordingly, the RFA's requirements relating to an initial and 
final regulatory flexibility analysis do not apply.
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    \3\ See 5 U.S.C. 603 and 604.
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V. Executive Order 13563 and 12866

    FinCEN has determined that Executive Orders 13563 and 12866 do not 
apply to this final rulemaking.

VI. Paperwork Reduction Act Notices

    There are no collection of information requirements in this final 
rule.

VII. Unfunded Mandates Act of 1995 Statement

    Section 202 of the Unfunded Mandates Reform Act of 1995, 2 U.S.C. 
1532 (``Unfunded Mandates Act''), requires that an agency must prepare 
a budgetary impact statement before promulgating any rule likely to 
result in a Federal mandate that may result in the expenditure by 
State, local, and tribal governments, in the aggregate, or by the 
private sector of $100 million or more in any one year. If a budgetary 
impact statement is required, section 205 of the Unfunded Mandates Act 
also requires an agency to identify and consider a reasonable number of 
regulatory alternatives before promulgating a rule. FinCEN has 
determined that no portion of this final rule will result in 
expenditures by State, local, and tribal governments, or by the private 
sector, of $100 million or more in any one year. Accordingly, this 
final rule is not subject to section 202 of the Unfunded Mandates Act.

List of Subjects in 31 CFR Parts 1010, 1020, 1021, 1022, 1023, 
1024, 1025, and 1026

    Administrative practice and procedure, Banks, banking, Brokers, 
Currency, Foreign banking, Foreign currencies, Gambling, 
Investigations, Penalties, Reporting and recordkeeping requirements, 
Securities, Terrorism.

Authority and Issuance

    For the reasons set forth in the preamble, chapter X of title 31 of 
the Code of Federal Regulations is amended as follows:

PART 1010--GENERAL PROVISIONS

0
1. The authority citation for part 1010 is revised to read as follows:

    Authority: 12 U.S.C. 1829b and 1951-1959; 31 U.S.C. 5311-5314 
and 5316-5332; title III, sec. 314, Pub. L. 107-56, 115 Stat. 307; 
sec. 701, Pub. L. 114-74, 129 Stat. 599.


Sec.  1010.306  [Amended]

0
2. Amend Sec.  1010.306 as follows:
0
a. In paragraph (a)(3), remove the words ``the Commissioner of Internal 
Revenue'' and add the word ``FinCEN'' in their place.
0
b. In paragraph (c), remove the words ``the Commissioner of Internal 
Revenue'' and add the word ``FinCEN'' in their place.
0
c. In paragraph (e), in the first sentence, remove the words ``the 
Internal Revenue Service'' and add the words ``BSA E-Filing System'' in 
their place and, in the second sentence, add the words ``or FinCEN'' 
after the words ``U.S. Customs and Border Protection.''


Sec.  1010.410  [Amended]

0
3. Amend Sec.  1010.410 by removing the words ``microfilm or other'' 
from the introductory text.


Sec.  1010.430  [Amended]

0
4. Amend Sec.  1010.430 by removing the words ``microfilm or other'' in 
paragraph (a).


Sec.  1010.715  [Amended]

0
5. Amend Sec.  1010.715 by removing ``1506-0009'' and adding ``1506-
0050'' in its place.


Sec.  1010.940  [Amended]

0
6. Amend Sec.  1010.940 in the introductory text by removing the words 
``microfilming or other.''

PART 1020--RULES FOR BANKS

0
7. The authority citation for part 1020 is revised to read as follows:

    Authority: 12 U.S.C. 1829b and 1951-1959; 31 U.S.C. 5311-5314 
and 5316-5332; title III, sec. 314, Pub. L. 107-56, 115 Stat. 307; 
sec. 701, Pub. L. 114-74, 129 Stat. 599.

0
8. Revise the heading for part 1020 to read as set forth above.


Sec.  1020.410  [Amended]

0
9. Amend Sec.  1020.410 as follows:
0
a. In paragraph (a) introductory text by removing the words ``microfilm 
or other.''
0
b. In paragraph (a)(1) by removing the words ``microfilm, other'' each 
place they appear.
0
c. In paragraph (c) introductory text by removing the words ``microfilm 
or other.''

PART 1021--RULES FOR CASINOS AND CARD CLUBS

0
10. The authority citation for part 1021 is revised to read as follows:

    Authority: 12 U.S.C. 1829b and 1951-1959; 31 U.S.C. 5311-5314 
and 5316-5332; title III, sec. 314, Pub. L. 107-56, 115 Stat. 307; 
sec. 701, Pub. L. 114-74, 129 Stat. 599.


Sec.  1021.320  [Amended]

0
11. Amend Sec.  1021.320 as follows:
0
a. In paragraph (b)(1) by removing the words ``by Casinos (``SARC'')'' 
and adding the word ``(``SAR'')'' in their place.
0
b. In paragraph (b)(2) by removing the word ``SARC'' each place it 
appears and adding in its place the word ``SAR.''
0
c. In paragraph (b)(3) by removing the word ``SARC'' each place it 
appears and adding in its place the word ``SAR.''
0
d. In paragraph (c) by removing the word ``SARC'' and adding in its 
place the word ``SAR.''
0
e. In paragraph (d) by removing the word ``SARC'' each place it appears 
and adding in its place the word ``SAR.''


Sec.  1021.410  [Amended]

0
12. Amend Sec.  1021.410 in paragraph (b) introductory text by removing 
the words ``microfilm or other.''

PART 1022--RULES FOR MONEY SERVICES BUSINESSES

0
13. The authority citation for part 1022 is revised to read as follows:

    Authority: 12 U.S.C. 1829b and 1951-1959; 31 U.S.C. 5311-5314 
and 5316-5332; title III,

[[Page 76865]]

sec. 314, Pub. L. 107-56, 115 Stat. 307; sec. 701, Pub. L. 114-74, 
129 Stat. 599.


Sec.  1022.320  [Amended]

0
14. Amend Sec.  1022.320 as follows:
0
a. In paragraph (b)(1) by removing the words ``-MSB (``SAR-MSB'')'' and 
adding the word ``(``SAR'')'' in their place.
0
b. In paragraph (b)(2) by removing the word ``SAR-MSB'' each place it 
appears and adding in its place the word ``SAR.''
0
c. In paragraph (b)(3) by removing the word ``SAR-MSB'' each place it 
appears and adding in its place the word ``SAR.''
0
d. In paragraph (c) by removing the word ``SAR-MSB'' each place it 
appears and adding in its place the word ``SAR.''


 Sec.  1022.380  [Amended]

0
15. Amend Sec.  1022.380(b)(1)(i) by removing the words ``the 
Enterprise Computing Center in Detroit of the Internal Revenue 
Service'' and adding in their place the word ``FinCEN.''

PART 1023--RULES FOR BROKERS OR DEALERS IN SECURITIES

0
16. The authority citation for part 1023 is revised to read as follows:

    Authority: 12 U.S.C. 1829b and 1951-1959; 31 U.S.C. 5311-5314 
and 5316-5332; title III, sec. 314, Pub. L. 107-56, 115 Stat. 307; 
sec. 701, Pub. L. 114-74, 129 Stat. 599.


Sec.  1023.320  [Amended]

0
17. Amend Sec.  1023.320 as follows:
0
a. In paragraph (b)(1) by removing the words ``by the Securities and 
Futures Industry (``SAR-SF'')'' and adding the word ``(``SAR'')'' in 
their place.
0
b. In paragraph (b)(2) by removing the word ``SAR-SF'' each place it 
appears and adding in its place the word ``SAR.''
0
c. In paragraph (b)(3) by removing the word ``SAR-SF'' each place it 
appears and adding in its place the word ``SAR.''
0
d. In paragraph (c) introductory text by removing the word ``SAR-SF'' 
and adding in its place the word ``SAR.''
0
e. In paragraph (d) by removing the word ``SAR-SF'' each place it 
appears and adding in its place the word ``SAR.''

PART 1024--RULES FOR MUTUAL FUNDS

0
18. The authority citation for part 1024 is revised to read as follows:

    Authority: 12 U.S.C. 1829b and 1951-1959; 31 U.S.C. 5311-5314 
and 5316-5332; title III, sec. 314, Pub. L. 107-56, 115 Stat. 307; 
sec. 701, Pub. L. 114-74, 129 Stat. 599.


Sec.  1024.320  [Amended]

0
19. Amend Sec.  1024.320 as follows:
0
a. In paragraph (b)(1) by removing the words ``by Securities and 
Futures Industries (``SAR-SF'')'' and adding the word ``(``SAR'')'' in 
their place.
0
b. In paragraph (b)(2) by removing the word ``SAR-SF'' each place it 
appears and adding in its place the word ``SAR.''
0
c. In paragraph (b)(3) by removing the word ``SAR-SF'' each place it 
appears and adding in its place the word ``SAR.''
0
d. In paragraph (b)(4) by removing the word ``SAR-SF'' and adding in 
its place the word ``SAR.''
0
e. In paragraph (b)(5) by removing the word ``SAR-SF'' and adding in 
its place the word ``SAR.''
0
f. In paragraph (c) by removing the word ``SAR-SF'' each place it 
appears and adding in its place the word ``SAR.''

PART 1025--RULES FOR INSURANCE COMPANIES

0
20. The authority citation for part 1025 is revised to read as follows:

    Authority: 12 U.S.C. 1829b and 1951-1959; 31 U.S.C. 5311-5314 
and 5316-5332; title III, sec. 314, Pub. L. 107-56, 115 Stat. 307; 
sec. 701, Pub. L. 114-74, 129 Stat. 599.


Sec.  1025.320  [Amended]

0
21. Amend Sec.  1025.320 as follows:
0
a. In paragraph (b)(1) by removing the words ``by Insurance Companies 
(SAR-IC)'' and adding the word ``(``SAR'')'' in their place.
0
b. In paragraph (b)(2) by removing the word ``SAR-IC'' each place it 
appears and adding in its place the word ``SAR.''
0
c. In paragraph (b)(3) by removing the word ``SAR-IC'' each place it 
appears and adding in its place the word ``SAR.''
0
d. In paragraph (c) by removing the word ``SAR-IC'' and adding in its 
place the word ``SAR.''
0
e. In paragraph (d) by removing the word ``SAR-IC'' each place it 
appears and adding in its place the word ``SAR.''

PART 1026--RULES FOR FUTURES COMMISSION MERCHANTS AND INTRODUCING 
BROKERS IN COMMODITIES

0
22. The authority citation for part 1026 is revised to read as follows:

    Authority: 12 U.S.C. 1829b and 1951-1959; 31 U.S.C. 5311-5314 
and 5316-5332; title III, sec. 314, Pub. L. 107-56, 115 Stat. 307; 
sec. 701, Pub. L. 114-74, 129 Stat. 599.


Sec.  1026.320  [Amended]

0
23. Amend Sec.  1026.320 as follows:
0
a. In paragraph (b)(1) by removing the words ``by Securities and 
Futures Industries (``SAR-SF'')'' and adding the word ``(``SAR'')'' in 
their place.
0
b. In paragraph (b)(2) by removing the word ``SAR-SF'' each place it 
appears and adding in its place the word ``SAR.''
0
c. In paragraph (b)(3) by removing the word ``SAR-SF'' each place it 
appears and adding in its place the word ``SAR.''
0
d. In paragraph (c) introductory text by removing the word ``SAR-SF'' 
and adding in its place the word ``SAR.''
0
e. In paragraph (d) by removing the word ``SAR-SF'' each place it 
appears and adding in its place the word ``SAR.''

    Dated: October 31, 2016.
Jamal El Hindi,
Deputy Director, Financial Crimes Enforcement Network.
[FR Doc. 2016-26557 Filed 11-3-16; 8:45 am]
BILLING CODE 4810-02-P

Federal Register / Vol. 81, No. 214 / Friday, November 4, 2016 / Rules and Regulations 76863 Subpart C—Reports ■ a. Remove the third introductory BSA has been delegated to the Director paragraph, which states: ‘‘Finally, the of FinCEN.1 ■ 2. Amend § 501.603 to revise the public may obtain information on II. Discussion of Changes second sentence of paragraph (b)(2)(ii) blocking, designation, identification, to read as follows: and delisting actions through OFAC’s In 2010, FinCEN reorganized the fax-on-demand service, at 202/622– BSA’s implementing regulations § 501.603 Reports on blocked property. previously appearing in part 103 of title 0077.’’ * * * * * ■ b. Remove the fifth sentence of note 5, 31 of the Code of Federal Regulations by (b) * * * which states: ‘‘Information also is transferring them to a new chapter in (2) * * * available by fax through OFAC’s fax-on- title 31—chapter X.2 When chapter X (ii) * * * Copies of Form TDF 90– demand service, at 202/622–0077.’’ was published, BSA reporting forms 22.50 may be obtained directly from the were specific to particular segments of Office of Foreign Assets Control by John E. Smith, the financial industry, and the names of downloading the form from the OFAC Acting Director, Office of Foreign Assets those industry-specific forms currently Reporting and License Application Control. appear in chapter X. FinCEN has since Forms page on OFAC’s Web site [FR Doc. 2016–26717 Filed 11–3–16; 8:45 am] revised a number of forms so that they (https://www.treasury.gov/resource- BILLING CODE 4810–AL–P may be used by a range of industry center/sanctions/Pages/forms- segments and no longer carry industry- index.aspx). * * * specific designations. The transition DEPARTMENT OF THE TREASURY from industry-specific forms began by * * * * * replacing the various currency Financial Crimes Enforcement Network transaction reports previously used by Subpart E—Procedures different industry segments, with an ■ 3. Amend § 501.801 to revise the 31 CFR Parts 1010, 1020, 1021, 1022, industry-wide, single BSA form for penultimate sentence of paragraph (b)(2) 1023, 1024, 1025, and 1026 currency transactions—the Bank to read as follows: RIN 1506–AB32 Secrecy Act Currency Transaction Report. FinCEN has also replaced the § 501.801 Licensing. Technical Amendments to Various five industry-specific suspicious activity * * * * * Bank Secrecy Act Regulations reports with a combined suspicious (b) * * * activity report, the Bank Secrecy Act (2) * * * The form, which requires AGENCY: Financial Crimes Enforcement Network (‘‘FinCEN’’), Treasury. Suspicious Activity Report, which is information regarding the date of the now used by various financial industry blocking, the financial institutions ACTION: Final rule. segments. This final rule revises the involved in the transfer, and the SUMMARY: FinCEN is issuing this final BSA regulations by updating them to beneficiary and amount of the transfer, rule to make a number of technical reflect the names of the new reports. may be obtained from the OFAC amendments. This final rule updates A number of recordkeeping Reporting and License Application various sections of the regulations requirements in 31 CFR chapter X refer Forms page on OFAC’s Web site implementing the Bank Secrecy Act to the use of a type of data storage (https://www.treasury.gov/resource- (‘‘BSA’’) by removing or replacing media—microfilm—that is no longer in center/sanctions/Pages/forms- outdated references to obsolete BSA wide use (or in many cases not even index.aspx) or the Office of Foreign forms, removing references to outdated available) for copies of records required Assets Control, Licensing Division, U.S. recordkeeping storage media, and to be kept. This final rule removes those Department of the Treasury, 1500 replacing several other outdated terms outdated references. If, however, a Pennsylvania Avenue NW., Freedman’s and references. financial institution continues to use Bank Building, Washington, DC 20220. microfilm for copies, the rule change DATES: Effective November 4, 2016. * * * does not require the financial institution FOR FURTHER INFORMATION CONTACT: * * * * * to use a different type of media for FinCEN Resource Center at 1–800–767– copies, nor does it require existing PART 593—[REMOVED] 2825 or 1–703–905–3591 (not a toll free copies that were made on microfilm to number) and select option 3 for be transferred to newer types of media. ■ 4. Remove part 593. regulatory questions. Email inquiries Finally, this final rule replaces several can be sent to FRC@fincen.gov. other outdated terms or references Appendix A to Chapter V—[AMENDED] SUPPLEMENTARY INFORMATION: where appropriate such as the reference ■ 5. The authority citation for appendix I. Statutory and Regulatory Background to filing reports with the Commissioner A to chapter V continues to read as of Internal Revenue (‘‘IRS’’). Effective follows: The BSA, Titles I and II of Public Law July 1, 2011, all BSA reports are 91–508, as amended, codified at 12 electronically filed with FinCEN, not Authority: 3 U.S.C. 301; 8 U.S.C. 1182, U.S.C. 1829b, 12 U.S.C. 1951–1959, and the IRS. 1189; 18 U.S.C. 2339 B; 21 U.S.C. 1901–1908; 22 U.S.C. 287 c; 31 U.S.C. 321(b); 50 U.S.C. 31 U.S.C. 5311–5314 and 5316–5332, App. 1–44; Public Law 110–286, 122 Stat. authorizes the Secretary of the Treasury III. Administrative Procedure Act and 2632 (50 U.S.C. 1701 note); Public Law 111– (‘‘Secretary’’), among other things, to Effective Date 195, 124 Stat. 1312 (22 U.S.C. 8501–8551); issue regulations requiring persons to Under 5 U.S.C. 553(b)(3)(B) of the keep records and file reports that are rmajette on DSK2TPTVN1PROD with RULES Public Law 112–81, 125 Stat. 1298 (22 U.S.C. Administrative Procedure Act (‘‘APA’’), 8513a); Public Law 112–158, 126 Stat. 1214 determined to have a high degree of an agency may, for good cause, find (22 U.S.C. 8701–8795); Public Law 112–208, usefulness in criminal, tax, regulatory, (and incorporate the finding and a brief 126 Stat. 1502; Public Law 113–278, 128 Stat. and counter-terrorism matters. The 3011 (50 U.S.C. 1701 note). statement of reasons in the rules issued) regulations implementing the BSA ■ 6. Amend appendix A to chapter V as appear at 31 CFR chapter X. The 1 Treasury Order 180–01 (Sept. 26, 2002). follows: Secretary’s authority to administer the 2 See 75 FR 5806 (Oct. 26, 2010). VerDate Sep<11>2014 11:51 Nov 03, 2016 Jkt 241001 PO 00000 Frm 00021 Fmt 4700 Sfmt 4700 E:\FR\FM\04NOR1.SGM 04NOR1

76864 Federal Register / Vol. 81, No. 214 / Friday, November 4, 2016 / Rules and Regulations that notice and public comment FinCEN has determined that no portion § 1010.940 [Amended] procedure on a rule is impracticable, of this final rule will result in ■ 6. Amend § 1010.940 in the unnecessary, or contrary to the public expenditures by State, local, and tribal introductory text by removing the words interest. Currently, 31 CFR chapter X governments, or by the private sector, of ‘‘microfilming or other.’’ contains references to outdated forms/ $100 million or more in any one year. reports and dated terminology that may Accordingly, this final rule is not PART 1020—RULES FOR BANKS be confusing to the public. The rule subject to section 202 of the Unfunded solely clarifies those terms and Mandates Act. ■ 7. The authority citation for part 1020 references and makes no substantive is revised to read as follows: List of Subjects in 31 CFR Parts 1010, change to any reporting requirement. Authority: 12 U.S.C. 1829b and 1951–1959; 1020, 1021, 1022, 1023, 1024, 1025, and For these reasons, the agency has 31 U.S.C. 5311–5314 and 5316–5332; title III, 1026 determined that publishing a notice of sec. 314, Pub. L. 107–56, 115 Stat. 307; sec. proposed rulemaking and providing Administrative practice and 701, Pub. L. 114–74, 129 Stat. 599. opportunity for public comment is procedure, Banks, banking, Brokers, ■ 8. Revise the heading for part 1020 to unnecessary. Currency, Foreign banking, Foreign read as set forth above. Under 5 U.S.C. 553(d)(3) of the APA, currencies, Gambling, Investigations, the required publication or service of a § 1020.410 [Amended] Penalties, Reporting and recordkeeping substantive rule shall be made not less requirements, Securities, Terrorism. ■ 9. Amend § 1020.410 as follows: than 30 days before its effective date, ■ a. In paragraph (a) introductory text by except, among other things, as provided Authority and Issuance removing the words ‘‘microfilm or by the agency for good cause found and For the reasons set forth in the other.’’ published with the rule. FinCEN finds preamble, chapter X of title 31 of the ■ b. In paragraph (a)(1) by removing the that there is good cause for shortened Code of Federal Regulations is amended words ‘‘microfilm, other’’ each place notice since the revisions made by this as follows: they appear. final rule are minor, non-substantive, ■ c. In paragraph (c) introductory text by and technical. This final rule takes PART 1010—GENERAL PROVISIONS removing the words ‘‘microfilm or effect November 4, 2016. other.’’ IV. Regulatory Flexibility Act ■ 1. The authority citation for part 1010 PART 1021—RULES FOR CASINOS is revised to read as follows: The Regulatory Flexibility Act AND CARD CLUBS (‘‘RFA’’) does not apply to a rulemaking Authority: 12 U.S.C. 1829b and 1951–1959; where a general notice of proposed 31 U.S.C. 5311–5314 and 5316–5332; title III, ■ 10. The authority citation for part sec. 314, Pub. L. 107–56, 115 Stat. 307; sec. 1021 is revised to read as follows: rulemaking is not required.3 As noted 701, Pub. L. 114–74, 129 Stat. 599. previously, FinCEN has determined that Authority: 12 U.S.C. 1829b and 1951–1959; it is unnecessary to publish a notice of § 1010.306 [Amended] 31 U.S.C. 5311–5314 and 5316–5332; title III, proposed rulemaking for this final rule. sec. 314, Pub. L. 107–56, 115 Stat. 307; sec. Accordingly, the RFA’s requirements ■ 2. Amend § 1010.306 as follows: 701, Pub. L. 114–74, 129 Stat. 599. relating to an initial and final regulatory ■ a. In paragraph (a)(3), remove the § 1021.320 [Amended] flexibility analysis do not apply. words ‘‘the Commissioner of Internal Revenue’’ and add the word ‘‘FinCEN’’ ■ 11. Amend § 1021.320 as follows: V. Executive Order 13563 and 12866 ■ a. In paragraph (b)(1) by removing the in their place. FinCEN has determined that words ‘‘by Casinos (‘‘SARC’’)’’ and ■ b. In paragraph (c), remove the words Executive Orders 13563 and 12866 do adding the word ‘‘(‘‘SAR’’)’’ in their ‘‘the Commissioner of Internal place. not apply to this final rulemaking. Revenue’’ and add the word ‘‘FinCEN’’ ■ b. In paragraph (b)(2) by removing the VI. Paperwork Reduction Act Notices in their place. word ‘‘SARC’’ each place it appears and There are no collection of information ■ c. In paragraph (e), in the first adding in its place the word ‘‘SAR.’’ requirements in this final rule. sentence, remove the words ‘‘the ■ c. In paragraph (b)(3) by removing the Internal Revenue Service’’ and add the word ‘‘SARC’’ each place it appears and VII. Unfunded Mandates Act of 1995 words ‘‘BSA E-Filing System’’ in their adding in its place the word ‘‘SAR.’’ Statement place and, in the second sentence, add ■ d. In paragraph (c) by removing the Section 202 of the Unfunded the words ‘‘or FinCEN’’ after the words word ‘‘SARC’’ and adding in its place Mandates Reform Act of 1995, 2 U.S.C. ‘‘U.S. Customs and Border Protection.’’ the word ‘‘SAR.’’ 1532 (‘‘Unfunded Mandates Act’’), ■ e. In paragraph (d) by removing the requires that an agency must prepare a § 1010.410 [Amended] word ‘‘SARC’’ each place it appears and budgetary impact statement before ■ 3. Amend § 1010.410 by removing the adding in its place the word ‘‘SAR.’’ promulgating any rule likely to result in words ‘‘microfilm or other’’ from the a Federal mandate that may result in the § 1021.410 [Amended] introductory text. expenditure by State, local, and tribal ■ 12. Amend § 1021.410 in paragraph governments, in the aggregate, or by the § 1010.430 [Amended] (b) introductory text by removing the private sector of $100 million or more words ‘‘microfilm or other.’’ in any one year. If a budgetary impact ■ 4. Amend § 1010.430 by removing the words ‘‘microfilm or other’’ in rmajette on DSK2TPTVN1PROD with RULES statement is required, section 205 of the PART 1022—RULES FOR MONEY Unfunded Mandates Act also requires paragraph (a). SERVICES BUSINESSES an agency to identify and consider a § 1010.715 [Amended] reasonable number of regulatory ■ 13. The authority citation for part alternatives before promulgating a rule. ■ 5. Amend § 1010.715 by removing 1022 is revised to read as follows: ‘‘1506–0009’’ and adding ‘‘1506–0050’’ Authority: 12 U.S.C. 1829b and 1951–1959; 3 See 5 U.S.C. 603 and 604. in its place. 31 U.S.C. 5311–5314 and 5316–5332; title III, VerDate Sep<11>2014 11:51 Nov 03, 2016 Jkt 241001 PO 00000 Frm 00022 Fmt 4700 Sfmt 4700 E:\FR\FM\04NOR1.SGM 04NOR1

Federal Register / Vol. 81, No. 214 / Friday, November 4, 2016 / Rules and Regulations 76865 sec. 314, Pub. L. 107–56, 115 Stat. 307; sec. ■ b. In paragraph (b)(2) by removing the ■ d. In paragraph (c) introductory text 701, Pub. L. 114–74, 129 Stat. 599. word ‘‘SAR–SF’’ each place it appears by removing the word ‘‘SAR–SF’’ and § 1022.320 [Amended] and adding in its place the word ‘‘SAR.’’ adding in its place the word ‘‘SAR.’’ ■ c. In paragraph (b)(3) by removing the ■ e. In paragraph (d) by removing the ■ 14. Amend § 1022.320 as follows: word ‘‘SAR–SF’’ each place it appears word ‘‘SAR–SF’’ each place it appears ■ a. In paragraph (b)(1) by removing the and adding in its place the word ‘‘SAR.’’ and adding in its place the word ‘‘SAR.’’ words ‘‘–MSB (‘‘SAR–MSB’’)’’ and ■ d. In paragraph (b)(4) by removing the adding the word ‘‘(‘‘SAR’’)’’ in their Dated: October 31, 2016. word ‘‘SAR–SF’’ and adding in its place Jamal El Hindi, place. the word ‘‘SAR.’’ ■ b. In paragraph (b)(2) by removing the Deputy Director, Financial Crimes ■ e. In paragraph (b)(5) by removing the word ‘‘SAR–MSB’’ each place it appears Enforcement Network. word ‘‘SAR–SF’’ and adding in its place and adding in its place the word ‘‘SAR.’’ [FR Doc. 2016–26557 Filed 11–3–16; 8:45 am] ■ c. In paragraph (b)(3) by removing the the word ‘‘SAR.’’ BILLING CODE 4810–02–P ■ f. In paragraph (c) by removing the word ‘‘SAR–MSB’’ each place it appears and adding in its place the word ‘‘SAR.’’ word ‘‘SAR–SF’’ each place it appears ■ d. In paragraph (c) by removing the and adding in its place the word ‘‘SAR.’’ DEPARTMENT OF HOMELAND word ‘‘SAR–MSB’’ each place it appears SECURITY PART 1025—RULES FOR INSURANCE and adding in its place the word ‘‘SAR.’’ COMPANIES § 1022.380 [Amended] Coast Guard ■ 20. The authority citation for part ■ 15. Amend § 1022.380(b)(1)(i) by 1025 is revised to read as follows: 33 CFR Part 100 removing the words ‘‘the Enterprise Computing Center in Detroit of the Authority: 12 U.S.C. 1829b and 1951–1959; [Docket No. USCG–2016–0959] Internal Revenue Service’’ and adding 31 U.S.C. 5311–5314 and 5316–5332; title III, in their place the word ‘‘FinCEN.’’ sec. 314, Pub. L. 107–56, 115 Stat. 307; sec. Special Local Regulations; Key West 701, Pub. L. 114–74, 129 Stat. 599. World Championship, Key West, FL PART 1023—RULES FOR BROKERS § 1025.320 [Amended] AGENCY: Coast Guard, DHS. OR DEALERS IN SECURITIES ■ 21. Amend § 1025.320 as follows: ACTION: Notice of enforcement of ■ 16. The authority citation for part ■ a. In paragraph (b)(1) by removing the regulation. 1023 is revised to read as follows: words ‘‘by Insurance Companies (SAR– IC)’’ and adding the word ‘‘(‘‘SAR’’)’’ in SUMMARY: The Coast Guard will enforce Authority: 12 U.S.C. 1829b and 1951–1959; the Key West World Championship 31 U.S.C. 5311–5314 and 5316–5332; title III, their place. sec. 314, Pub. L. 107–56, 115 Stat. 307; sec. ■ b. In paragraph (b)(2) by removing the Special Local Regulation from 9:30 a.m. 701, Pub. L. 114–74, 129 Stat. 599. word ‘‘SAR–IC’’ each place it appears until 4:30 p.m. on November 9, 11, and and adding in its place the word ‘‘SAR.’’ 13, 2016. This action is necessary to § 1023.320 [Amended] ensure safety of life on navigable waters ■ c. In paragraph (b)(3) by removing the ■ 17. Amend § 1023.320 as follows: word ‘‘SAR–IC’’ each place it appears of the United States and to protect race ■ a. In paragraph (b)(1) by removing the and adding in its place the word ‘‘SAR.’’ participants, participant vessels, words ‘‘by the Securities and Futures ■ d. In paragraph (c) by removing the spectators, and the general public from Industry (‘‘SAR–SF’’)’’ and adding the word ‘‘SAR–IC’’ and adding in its place the hazards associated with high-speed word ‘‘(‘‘SAR’’)’’ in their place. the word ‘‘SAR.’’ boat races. During the enforcement ■ b. In paragraph (b)(2) by removing the ■ e. In paragraph (d) by removing the period, and in accordance with word ‘‘SAR–SF’’ each place it appears word ‘‘SAR–IC’’ each place it appears previously issued special local and adding in its place the word ‘‘SAR.’’ and adding in its place the word ‘‘SAR.’’ regulations, no person or vessel may ■ c. In paragraph (b)(3) by removing the enter the regulated area without word ‘‘SAR–SF’’ each place it appears PART 1026—RULES FOR FUTURES permission from the Captain of the Port and adding in its place the word ‘‘SAR.’’ COMMISSION MERCHANTS AND Key West or a designated representative. ■ d. In paragraph (c) introductory text INTRODUCING BROKERS IN DATES: The regulations in 33 CFR by removing the word ‘‘SAR–SF’’ and COMMODITIES 100.701 will be enforced from 9:30 a.m. adding in its place the word ‘‘SAR.’’ until 4:30 p.m. on November 9, 11, and ■ e. In paragraph (d) by removing the ■ 22. The authority citation for part 13, 2016, for the marine event listed in word ‘‘SAR–SF’’ each place it appears 1026 is revised to read as follows: item (c)(9) in the Table to § 100.701. and adding in its place the word ‘‘SAR.’’ Authority: 12 U.S.C. 1829b and 1951–1959; FOR FURTHER INFORMATION CONTACT: If PART 1024—RULES FOR MUTUAL 31 U.S.C. 5311–5314 and 5316–5332; title III, you have questions on this notice, call sec. 314, Pub. L. 107–56, 115 Stat. 307; sec. or email Lieutenant Scott Ledee, Sector FUNDS 701, Pub. L. 114–74, 129 Stat. 599. Key West Waterways Management ■ 18. The authority citation for part § 1026.320 [Amended] Department, Coast Guard; telephone 1024 is revised to read as follows: (305) 292–8768, email Scott.G.Ledee@ ■ 23. Amend § 1026.320 as follows: uscg.mil. Authority: 12 U.S.C. 1829b and 1951–1959; 31 U.S.C. 5311–5314 and 5316–5332; title III, ■ a. In paragraph (b)(1) by removing the sec. 314, Pub. L. 107–56, 115 Stat. 307; sec. words ‘‘by Securities and Futures SUPPLEMENTARY INFORMATION: The Coast 701, Pub. L. 114–74, 129 Stat. 599. Industries (‘‘SAR–SF’’)’’ and adding the Guard will enforce the Special Local word ‘‘(‘‘SAR’’)’’ in their place. Regulation for the annual Key West rmajette on DSK2TPTVN1PROD with RULES § 1024.320 [Amended] ■ b. In paragraph (b)(2) by removing the World Championship Super Boat Race ■ 19. Amend § 1024.320 as follows: word ‘‘SAR–SF’’ each place it appears in Table to § 100.701, item (c)(9) from ■ a. In paragraph (b)(1) by removing the and adding in its place the word ‘‘SAR.’’ 9:30 a.m. until 4:30 p.m. on November words ‘‘by Securities and Futures ■ c. In paragraph (b)(3) by removing the 9, 11, and 13, 2016. Industries (‘‘SAR–SF’’)’’ and adding the word ‘‘SAR–SF’’ each place it appears On November 9, 11, and 13, 2016, word ‘‘(‘‘SAR’’)’’ in their place. and adding in its place the word ‘‘SAR.’’ Super Boat International Productions, VerDate Sep<11>2014 11:51 Nov 03, 2016 Jkt 241001 PO 00000 Frm 00023 Fmt 4700 Sfmt 4700 E:\FR\FM\04NOR1.SGM 04NOR1


Document Created: 2018-02-14 08:27:20
Document Modified: 2018-02-14 08:27:20
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionRules and Regulations
ActionFinal rule.
DatesEffective November 4, 2016.
ContactFinCEN 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 Citation81 FR 76863 
RIN Number1506-AB32
CFR Citation31 CFR 1010
31 CFR 1020
31 CFR 1021
31 CFR 1022
31 CFR 1023
31 CFR 1024
31 CFR 1025
31 CFR 1026
CFR AssociatedAdministrative Practice and Procedure; Banks; Banking; Brokers; Currency; Foreign Banking; Foreign Currencies; Gambling; Investigations; Penalties; Reporting and Recordkeeping Requirements; Securities and Terrorism
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