Anti-Money Laundering Program and Suspicious Activity Report Filing Requirements for Registered Investment Advisers

2014. Also for this purpose, a binding
      written commitment exists when an employer is contractually required to pay for an arrangement, and a plan begins enrolling employees when it begins accepting employee elections to participate in the plan. The relief provided in this section does not apply to an applicable large employer that would have been liable for a payment under section 4980H without regard to § 1.36B–6(a)(2) of these proposed regulations. An offer of coverage under an eligible employer-sponsored plan that does not comply with § 1.36B–6(a)(2) of these proposed regulations does not preclude an employee from obtaining a premium tax credit under section 36B, if otherwise eligible. Special Analyses Certain IRS regulations, including this one, are exempt from the requirements of Executive Order 12866, as supplemented and reaffirmed by Executive Order 13563. Therefore, a regulatory impact assessment is not required. It has been determined that
      section 553(b) of the Administrative
      Procedure Act (5 U.S.C. chapter 5) does not apply to these regulations and, because the regulations do not impose a collection of information on small entities, the Regulatory Flexibility Act (5 U.S.C. chapter 6) does not apply. Pursuant to section 7805(f) of the Code, this notice of proposed rulemaking has been submitted to the Chief Counsel for Advocacy of the Small Business Administration for comment on its impact on small business. Comments and Requests for Public Hearing Before these proposed regulations are adopted as final regulations, consideration will be given to any comments that are submitted timely to the IRS as prescribed in this preamble under the ADDRESSES heading. The Treasury Department and the IRS request comments on all aspects of the proposed rules. All comments will be available at www.regulations.gov or upon request. A public hearing will be scheduled if requested in writing by any person who timely submits written comments. If a public hearing is scheduled, notice of the date, time, and place for the hearing will be published in the Federal Register. Drafting Information The principal author of these regulations is Andrew Braden of the Office of the Associate Chief Counsel (Income Tax and Accounting). However, other personnel from the Treasury Department and the IRS participated in their development. List of Subjects in 26 CFR Part 1 Income taxes, Reporting and recordkeeping requirements. Proposed Amendments Accordingly, 26 CFR part 1 as proposed to be amended on May 3, 2013 (78 FR 25909), is proposed to be further amended as follows:
      PART 1—INCOME TAXES

• Paragraph 1. The authority citation
  for part 1 continues to read as follows:
  Authority: 26 U.S.C. 7805 * * *
• Par. 2. Section 1.36B–6, as proposed
  to be added May 3, 2013 (78 FR 25909), is amended by revising paragraphs (a) and (g) to read as follows:
  § 1.36B–6 Minimum value.
  (a) In general. An eligible employer￾sponsored plan provides minimum value (MV) only if— (1) The plan’s share of the total allowed costs of benefits provided to an employee (the MV percentage) is at least 60 percent; and (2) The plan provides substantial coverage of inpatient hospital services and physician services.

(g) Effective/applicability date—(1) In general. Except as provided in paragraph (g)(2) of this section, this
section applies for taxable years ending
after December 31, 2013.
(2) Exception. Paragraph (a)(2) of this
section applies for plan years beginning
after November 3, 2014.
John Dalrymple,
Deputy Commissioner for Services and Enforcement. [FR Doc. 2015–21427 Filed 8–31–15; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Financial Crimes Enforcement Network 31 CFR Chapter X RIN 1506–AB10 Anti-Money Laundering Program and Suspicious Activity Report Filing Requirements for Registered Investment Advisers AGENCY: Financial Crimes Enforcement Network, Treasury. ACTION: Notice of proposed rulemaking. SUMMARY: Financial Crimes Enforcement Network (‘‘FinCEN’’), a bureau of the Department of the Treasury (‘‘Treasury’’), is issuing this notice of proposed rulemaking to prescribe minimum standards for anti￾money laundering programs (‘‘AML’’) to be established by certain investment advisers and to require such investment advisers to report suspicious activity to FinCEN pursuant to the Bank Secrecy Act (‘‘BSA’’). FinCEN is taking this action to regulate investment advisers that may be at risk for attempts by money launderers or terrorist financers seeking access to the U.S. financial system through a financial institution type not required to maintain AML programs or file suspicious activity reports (‘‘SARs’’). The investment advisers FinCEN proposes to cover by these rules are those registered or required to be registered with the U.S. Securities and Exchange Commission (‘‘SEC’’). FinCEN is also proposing to include investment advisers in the general definition of ‘‘financial institution’’ in rules implementing the BSA. Doing so would subject investment advisers to the BSA requirements generally applicable to financial institutions, including, for example, the requirements to file Currency Transaction Reports (‘‘CTRs’’) and to keep records relating to the transmittal of funds. Finally, FinCEN is proposing to delegate its authority to examine investment advisers for compliance with these requirements to the SEC. DATES: Written comments on this notice of proposed rulemaking (‘‘NPRM’’) must be submitted on or before November 2, 2015. ADDRESSES: You may submit comments, identified by Regulatory Identification Number (RIN) 1506–AB10, by any of the following methods:

• Federal E-rulemaking Portal:
  http://www.regulations.gov. Follow the instructions for submitting comments. Include 1506–AB10 in the submission. Refer to Docket Number FINCEN–2014– 0003.
• Mail: FinCEN, P.O. Box 39, Vienna,
  VA 22183. Include 1506–AB10 in the body of the text. Please submit comments by one method only. All comments submitted in response to this NPRM will become a matter of public record. Therefore, you should submit only information that you wish to make publicly available.
• Inspection of comments: The public
  dockets for FinCEN can be found at Regulations.gov. Federal Register proposed and final rules published by FinCEN are searchable by docket number, RIN, or document title, among other things, and the docket number,