Regulatory Alerts2011-04-12
Preparation Guidelines for completing the March 2011 version of FinCEN Form 101, Suspicious Activity Report by the Securities and Futures Industries
The Financial Crimes Enforcement Network issued guidelines to assist the Securities and Futures Industry in correctly completing FinCEN Form 101, the Suspicious Activity Report by the Securities and Futures Industries. The document mandates the use of the special response "XX" in critical fields when information is unknown or not applicable, explicitly prohibiting previous responses such as "None," "Not Applicable," and "Unknown." It details specific instructions for various critical items based on an analysis of common filing errors and encourages the use of BSA E-filing to improve data accuracy.
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