83 FR 54659 - Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple Financial Crimes Enforcement Network Information Collection Requests

DEPARTMENT OF THE TREASURY

Federal Register Volume 83, Issue 210 (October 30, 2018)

The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests.

[Federal Register Volume 83, Number 210 (Tuesday, October 30, 2018)]
[Notices]
[Pages 54659-54660]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-23645]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Multiple Financial Crimes Enforcement Network 
Information Collection Requests

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Notice.

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SUMMARY: The Department of the Treasury will submit the following 
information collection requests to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, on or after the date of publication of this 
notice. The public is invited to submit comments on these requests.

DATES: Comments should be received on or before November 29, 2018 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimate, or any other 
aspect of the information collection, including suggestions for 
reducing the burden, to (1) Office of Information and Regulatory 
Affairs, Office of Management and Budget, Attention: Desk Officer for 
Treasury, New Executive Office Building, Room 10235, Washington, DC 
20503, or email at [email protected] and (2) Treasury PRA 
Clearance Officer, 1750 Pennsylvania Ave. NW, Suite 8100, Washington, 
DC 20220, or email at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Jennifer Quintana by emailing [email protected], calling 
(202) 622-0489, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 

Financial Crimes Enforcement Network (FinCEN)

    1. Title: Suspicious Activity Report by Securities and Futures 
Industries.
    OMB Control Number: 1506-0019.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Treasury requires certain securities broker-dealers, 
futures commission merchants and introducing brokers in commodities to 
file suspicious activity reports. This renewal pertains to OMB approval 
of the information collection requirement per se imposed upon brokers 
or dealers in securities and futures commission merchants and 
introducing brokers in commodities. OMB approval of the allocated 
burden hours associated with these requirements (31 CFR 1023.320 and 
1026.320), stemming from the submission and record maintenance of the 
BSARs themselves, is reflected in the burden for the BSAR as approved 
under OMB Control No. 1506-0065. This splitting in the coverage of the 
OMB numbers is a result of FinCEN's streamlining of SAR reporting into 
one a single, unified format. Although the means of reporting was 
consolidated into a single reporting format covering multiple industry 
sectors under OMB Control No. 1506-0065, the reporting requirements 
themselves are still contained in separate rules covered by various OMB 
control numbers. Consequently, the burden listed in this renewal under 
control number 1506-0019 is estimated at one response and one hour in 
order to avoid double-counting the same burdens that have already been 
included in the estimate under control number 1506-0065.
    Form: FinCEN Form 111.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 1.
    Frequency of Response: On Occasion.
    Estimated Total Number of Annual Responses: 1.
    Estimated Time per Response: 1 hour.
    Estimated Total Annual Burden Hours: 1 hour.

[[Page 54660]]

    2. Title: Anti-Money Laundering programs for money services 
business, mutual funds, operators of credit card systems, and Providers 
of Prepaid Access.
    OMB Control Number: 1506-0020.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Money services businesses, mutual funds, and operators 
of credit card systems, and providers of prepaid access are required to 
develop and implement written anti-money laundering program. A copy of 
the program must be maintained for five years. See 31 CFR 103.125, 
103.130, and 103.135.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 327,106.
    Frequency of Response: On Occasion.
    Estimated Total Number of Annual Responses: 2,910,406.
    Estimated Time per Response: 9 minutes.
    Estimated Total Annual Burden Hours: 413,216.
    3. Title: Correspondent Accounts for Foreign Shell Banks; Record 
keeping and Termination of Correspondent Accounts.
    OMB Control Number: 1506-0043.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: These rules prohibit domestic financial institutions 
from maintaining correspondent accounts with foreign shell banks and 
require such institutions to maintain records of the owners, and 
agents, for service of legal process of foreign banks.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 2,000.
    Frequency of Response: On Occasion.
    Estimated Total Number of Annual Responses: 27,000.
    Estimated Time per Response: 11.33 hours.
    Estimated Total Annual Burden Hours: 306,000.

    Authority: 44 U.S.C. 3501 et seq.

    Dated: October 25, 2018.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2018-23645 Filed 10-29-18; 8:45 am]
 BILLING CODE 4810-02-P