Pilot Program on Sharing of Suspicious Activity Reports and Related Information with Foreign Branches, Subsidiaries, and Affiliates

This proposed rule establishes a limited-duration pilot program permitting financial institutions with Suspicious Activity Report (SAR) obligations to share SARs and related information with their foreign branches, subsidiaries, and affiliates for combating illicit finance risks. Participants must submit a written application to FinCEN detailing point of contact, specific entities, purposes, operational jurisdictions, and internal controls, while adhering to restrictions prohibiting sharing with entities in the People's Republic of China, the Russian Federation, or designated state sponsors of terrorism. The program is mandated to terminate three years after January 1, 2024, unless extended by the Secretary of the Treasury for up to two years upon submission of a national interest report.

FINCEN published 7 documents in the last 30 days — get each new one by email the day it lands.

Legal Status

This site displays a prototype of a “Web 2.0” version of the daily Federal Register. It is not an official legal edition of the Federal Register, and does not replace the official print version or the official electronic version on GPO’s govinfo.gov.

The documents posted on this site are XML renditions of published Federal Register documents. Each document posted on the site includes a link to the corresponding official PDF file on govinfo.gov. This prototype edition of the daily Federal Register on FederalRegister.gov will remain an unofficial informational resource until the Administrative Committee of the Federal Register (ACFR) issues a regulation granting it official legal status. For complete information about, and access to, our official publications and services, go to About the Federal Register on NARA's archives.gov.

Read the rest free, and get an email when FINCEN publishes again

Email me when FINCEN publishes something newOne email per publication, same day. Sign in below to keep reading.

Lineage: In force

amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

Source: Financial Crimes Enforcement Network — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works