Notice of Expiration of Conditional Exception to Bank Secrecy Act Regulations Relating to Orders for Transmittal of Funds by Financial Institutions

Federal Register / Vol. 68, No. 45 / Friday, March 7, 2003 / Rules and Regulations 10965 West Chester, PA, Brandywine, RNAV (GPS) Rwy 27, Orig West Chester, PA, Brandywine, VOR/DME RNAV or GPS Rwy 27, Amdt 2, Cancelled West Chester, PA, Brandywine, GPS Rwy 9, Orig, Cancelled Burlington, VT, Burlington Intl, VOR Rwy 1, Amdt 11D Burlington, VT, Burlington Intl, NDB Rwy 15, Amdt 19E Burlington, VT, Burlington Intl, ILS Rwy 15, Amdt 22 Burlington, VT, Burlington Intl, RNAV (GPS) Rwy 1, Orig Burlington, VT, Burlington Intl, RNAV (GPS) Y Rwy 15, Orig Burlington, VT, Burlington Intl, RNAV (GPS) Z Rwy 15, Orig Burlington, VT, Burlington Intl, RNAV (GPS) Rwy 33, Orig Burlington, VT, Burlington Intl, GPS Rwy 33, Orig–A, Cancelled

• • • Effective April 17, 2003 Crisfield, MD, Crisfield Muni, VOR/DME–A, Orig
• • • Effective May 15, 2003 Monroe, GA, Monroe-Walton County, NDB– A, Orig Monroe, GA, Monroe-Walton County, NDB or GPS Rwy 3, Amdt 3, Cancelled Monroe, GA, Monroe-Walton County, RNAV (GPS) Rwy 3, Orig Somerville, NJ, Somerset, RNAV (GPS) Rwy 12, Orig Somerville, NJ, Somerset, RNAV (GPS) Rwy 30, Orig Somerville, NJ, Somerset, GPS Rwy 12, Amdt 2, Cancelled The FAA published the following procedures in Docket No. 30350; Amdt No. 3041 to Part 97 of the Federal Aviation Regulations (Vol. 68, FR No. 17, Page 3811; dated Monday, January 27, 2003) under section 97.33 effective March 20, 2003 which are hereby rescinded: Glens Falls, NY, Floyd Bennett Memorial, VOR/DME or GPS Rwy 19, Amdt 6B (Cancelled) Glens Falls, NY, Floyd Bennett Memorial, RNAV (GPS) Rwy 1, Orig Glens Falls, NY, Floyd Bennett Memorial, RNAV (GPS) Rwy 12, Orig Glens Falls, NY, Floyd Bennett Memorial, RNAV (GPS) Rwy 19, Orig Glens Falls, NY, Floyd Bennett Memorial, RNAV (GPS) Rwy 30, Orig [FR Doc. 03–5289 Filed 3–6–03; 8:45 am] BILLING CODE 4910–13–M DEPARTMENT OF LABOR Mine Safety and Health Administration 30 CFR Part 18 RIN 1219–AA98 (Phase 10) Alternate Locking Devices for Plug and Receptacle-Type Connectors on Mobile Battery-Powered Machines AGENCY: Mine Safety and Health Administration (MSHA), Labor. ACTION: Withdrawal of direct final rule. SUMMARY: As a result of a significant adverse comment, MSHA is withdrawing the direct final rule (68 FR

2879. on Alternate Locking Devices for Plug and Receptacle-Type Connectors on Mobile Battery-Powered Machines that was published on January 22, 2003. In the document, MSHA stated that in the event it receives a significant adverse comment, MSHA can address the comments received and publish a final rule. Accordingly, all public comments that have been received in this rulemaking are accepted under the proposed rule (68 FR 2941) and will be subsequently addressed in a new final rule. MSHA will not institute a second comment period. Comments filed during this rulemaking can be viewed at MSHA’s Internet site at http:// www.msha.gov/currentcomments.htm. DATES: As of March 7, 2003, this direct final rule (68 FR 2879) published on January 22, 2003, is withdrawn. FOR FURTHER INFORMATION CONTACT: Marvin W. Nichols, Jr., Director; Office of Standards, Regulations, and Variances, MSHA; phone: (202) 693– 9440; facsimile: (202) 693–9441; e-mail: nichols-marvin@msha.gov. Dated: March 3, 2003. John R. Caylor, Deputy Assistant Secretary of Labor for Mine Safety and Health. [FR Doc. 03–5403 Filed 3–6–03; 8:45 am] BILLING CODE 4510–43–P DEPARTMENT OF THE TREASURY 31 CFR Part 103 Notice of Expiration of Conditional Exception to Bank Secrecy Act Regulations Relating to Orders for Transmittal of Funds by Financial Institutions AGENCY: Financial Crimes Enforcement Network (‘‘FinCEN’’), Treasury. ACTION: Expiration of conditional exception; request for comments. SUMMARY: FinCEN is giving notice of the expiration of a conditional exception to a Bank Secrecy Act requirement on May 31, 2003. The exception permits financial institutions to substitute coded information for the true name and address of a customer in a funds transmittal order. DATES: Effective June 1, 2003. Written comments must be received on or before April 21, 2003. ADDRESSES: Commenters are encouraged to submit comments by electronic mail because paper mail in the Washington, DC area may be delayed. Comments submitted by electronic mail may be sent to regcomments@fincen.treas.gov with the caption in the body of the text, ‘‘ATTN: Conditional Exception Expiration.’’ Comments also may be submitted by paper mail to FinCEN, PO Box 39, Vienna, VA 22183–0039, ‘‘ATTN: Conditional Exception Expiration.’’ Comments should be sent by one method only. Comments may be inspected at FinCEN between 10 a.m. and 4 p.m., in the FinCEN Reading Room in Washington, DC. Persons wishing to inspect the comments submitted must request an appointment by telephoning (202) 354–6400 (not a toll-free number). FOR FURTHER INFORMATION CONTACT: David Vogt, Executive Associate Director, Office of Regulatory Programs, FinCEN, (202) 354–6400, or Judith R. Starr, Chief Counsel, FinCEN, (703) 905–3590. SUPPLEMENTARY INFORMATION: I. Background In 1998, FinCEN granted a conditional exception (‘‘the CIF Exception’’) to the strict operation of 31 CFR 103.33(g) (the ‘‘Travel Rule’’). See FinCEN Issuance 98–1, 63 FR 3640 (January 26, 1998). The Travel Rule requires a financial institution to include certain information in transmittal orders relating to transmittals of funds of $3,000 or more. The CIF Exception addressed computer programming problems in the banking and securities industries by relaxing the Travel Rule’s requirement that a customer’s true name and address be included in a funds transmittal order, so long as alternate steps, described in FinCEN Issuance 98– 1 and designed to prevent avoidance of the Travel Rule, were satisfied. By its terms, the CIF Exception to the Travel Rule was to expire on May 31, 1999; however, in light of programming burdens associated with year 2000 compliance issues, FinCEN extended the CIF Exception so that it would expire on May 31, 2001. See FinCEN Issuance 99–1, 64 FR 41041 (July 29, VerDate Jan<31>2003 17:26 Mar 06, 2003 Jkt 200001 PO 00000 Frm 00013 Fmt 4700 Sfmt 4700 E:\FR\FM\07MRR1.SGM 07MRR1

10966 Federal Register / Vol. 68, No. 45 / Friday, March 7, 2003 / Rules and Regulations 1999). On May 30, 2001, after first soliciting input from the law enforcement community for its views on any law enforcement burdens caused by the CIF Exception, FinCEN again extended the CIF Exception. The CIF Exception is now scheduled to expire on May 31, 2003. See FinCEN Issuance 2001–1, 66 FR 32746 (June 18, 2001). FinCEN intends to permit the CIF Exception to expire, and is soliciting comments before it does so. II. The CIF Exception FinCEN promulgated the Travel Rule in 1995. The Travel Rule requires financial institutions to include certain information in transmittal orders relating to transmittals of funds of $3,000 or more, which must ‘‘travel’’ with the order throughout the funds transmittal sequence. Among these requirements is that each transmittor’s financial institution and intermediary financial institution include in a transmittal order the transmittor’s true name and street address. See 31 CFR 103.33(g)(1)(i)–(ii) and (g)(2)(i)–(ii). Subsequently, financial institutions represented to FinCEN that their ability to comply with the Travel Rule at all depended on their ability to use their automated customer information files, known as CIFs. Although an originating institution always knew the originating customer’s true name and address, the CIFs were often programmed with coded or nominee names and addresses (or post office boxes). The reprogramming tasks involved in changing the CIFs were represented to be a significant barrier to compliance with the Travel Rule. In light of these burdens, and in the interest of obtaining prompt compliance, FinCEN promulgated the conditional exception. The conditional exception provides that a financial institution may satisfy the requirements of 31 CFR 103.33(g) that a customer’s true name and address be included in a transmittal order, only upon satisfaction of the following conditions: (1) The CIFs are not specifically altered for the particular transmittal of funds in question; (2) The CIFs are generally programmed and used by the institution for customer communications, not simply for transmittal of funds transactions, and as so programmed generate other than true name and street address information; (3) The institution itself knows and can associate the CIF information used in the funds transmittal order with the true name and street address of the transmittor of the order; (4) The transmittal order includes a question mark symbol immediately following any designation of the transmittor other than by a true name on the order; (5) Any currency transaction report or suspicious activity report by the institution with respect to the funds transmittal contains the true name and address information for the transmittor and plainly associates the report with the particular funds transmittal in question. The conditional exception further provides that it has no application to any funds transmittals for whose processing an institution does not automatically rely on preprogrammed and prespecified CIF name and address information. FinCEN’s release promulgating the CIF Exception further warned financial institutions that any customer request for a nominee name in a CIF should be carefully evaluated as a potentially suspicious transaction. See 63 FR 3642. III. Expiration of the CIF Exception In the aftermath of the terrorist attacks of September 11 and the passage of the Uniting and Strengthening America by Providing Appropriate Tools to Intercept and Obstruct Terrorism Act of 2001 (‘‘USA Patriot Act’’), Congress has emphasized the need to increase transparency across the financial sector. See Pub. L. 107–56, section 302(a)(2) (finding that defects in financial transparency are critical to the financing of global terrorism). FinCEN has implemented this congressional policy in its numerous Patriot Act rulemakings and believes that it should be reflected in existing BSA rules such as the Travel Rule as well. The financial community has had a number of years to address the technological issues posed by the Travel Rule, and the major programming issues posed by year 2000 compliance are now well behind it. Therefore, FinCEN deems it appropriate, after two extensions, to permit the CIF Exception to expire. This conclusion is buttressed by information FinCEN has received regarding the potential for abuse of the CIF Exception; for example, by private banking departments that cater to high net worth individuals’ demands for increased confidentiality by using CIFs. IV. Request for Comments FinCEN invites comments on (1) the existence of any remaining technological barriers to full compliance with the Travel Rule; (2) whether financial institutions will be able to comply fully with the Travel Rule upon the expiration of the CIF Exception or whether additional time will be required to attain compliance; (3) the existence of any adverse effect on law enforcement investigations arising from the CIF Exception; and (4) the potential for or actual abuse of the CIF Exception. Dated: March 3, 2003. James F. Sloan, Director, Financial Crimes Enforcement Network. [FR Doc. 03–5432 Filed 3–6–03; 8:45 am] BILLING CODE 4810–02–P ENVIRONMENTAL PROTECTION AGENCY 40 CFR Part 52 [CA 245–0375a; FRL–7446–1] Revisions to the California State Implementation Plan, Antelope Valley Air Pollution Control District, Imperial County Air Pollution Control District, and Monterey Bay Unified Air Pollution Control District AGENCY: Environmental Protection Agency (EPA). ACTION: Direct final rule. SUMMARY: EPA is taking direct final action to approve revisions to the Antelope Valley Air Pollution Control District (AVAPCD), Imperial County Air Pollution Control District (ICAPCD), and Monterey Bay Unified Air Pollution Control District (MBUAPCD) portions of the California State Implementation Plan (SIP). These revisions concern definitions, circumvention, emergency episode and volatile organic compound (VOC) emissions from organic solvents. We are approving local rules that regulate these emission sources under the Clean Air Act as amended in 1990 (CAA or the Act). DATES: This rule is effective on May 6, 2003, without further notice, unless EPA receives adverse comments by April 7, 2003. If we receive such comment, we will publish a timely withdrawal in the Federal Register to notify the public that this rule will not take effect. ADDRESSES: Mail comments to Andy Steckel, Rulemaking Office Chief (AIR– 4), U.S. Environmental Protection Agency, Region IX, 75 Hawthorne Street, San Francisco, CA 94105–3901. You can inspect copies of the submitted SIP revisions and EPA’s technical support documents (TSDs) at our Region IX office during normal business hours. You may also see copies of the submitted SIP revisions at the following locations: Air and Radiation Docket and Information Center, U.S. VerDate Jan<31>2003 17:26 Mar 06, 2003 Jkt 200001 PO 00000 Frm 00014 Fmt 4700 Sfmt 4700 E:\FR\FM\07MRR1.SGM 07MRR1