Chairman Bachus, Ranking Member Sanders, and distinguished members of the Subcommittee, I appreciate the opportunity to appear before you today to discuss initiatives that the Financial Crimes Enforcement Network is implementing under the Bank Secrecy Act relating to the money services business…
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| Federal Register Notice
| Federal Register Notice
| Federal Register Notice
| Federal Register Notice
| Guidance
The Financial Crimes Enforcement Network is issuing this guidance to clarify the obligations of futures commission merchants subject to the final due diligence rules implementing section 312 of the USA PATRIOT Act (the “section 312 rules”).1 Specifically, this guidance addresses (1) how accounts…
| Guidance
Please note: This guidance supplements the Frequently Asked Questions that were issued on October 31, 2005.
1. What does FinCEN mean by "any other insurance product with features of cash value or investment," under the definition of "covered products"?
Per 31 C.F.R. § 103.137, the definition of "…