Regulatory Alerts2013-04-25
Added · Updated
Order Imposing Recordkeeping and Reporting Obligations on U.S. Financial Institutions Regarding Transactions Involving Kassem Rmeiti & Co. For Exchange
The Director of FinCEN imposed recordkeeping and reporting obligations on covered U.S. financial institutions and principal money transmitters for transactions involving Kassem Rmeiti & Co. For Exchange from April 23, 2013, through August 21, 2013. These entities must identify transactions involving the specified entity and report details including participant identities, legal capacities, and transaction descriptions to FinCEN within fifteen business days. Reports must be submitted via an encrypted CD-ROM containing a CSV file with specific data fields, or alternatively via a BSA-Suspicious Activity Report if filed within fifteen days with an attached CSV file not exceeding one megabyte.
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