Regulatory Alerts2006-01-20
Added
Interagency Guidance on Sharing Suspicious Activity Reports with Head Offices and Controlling Companies
U.S. branches or agencies of foreign banks may disclose Suspicious Activity Reports to their head offices outside the United States, and U.S. banks or savings associations may disclose such reports to their controlling companies, whether domestic or foreign. Depository institutions must maintain written confidentiality agreements requiring these recipients to protect the reports through appropriate internal controls and prohibit further disclosure. Until further guidance is issued, depository institutions are prohibited from sharing Suspicious Activity Reports with affiliates other than controlling companies or head offices.
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