Administrative Rulings

Pursuant to its authority at 31 CFR Part 1010 Subpart G, the Financial Crimes Enforcement Network (FinCEN) may issue administrative rulings interpreting the Bank Secrecy Act (BSA) or FinCEN’s implementing regulations at 31 CFR Chapter X. Administrative rulings that are published on FinCEN’s website provide guidance to financial institutions and other requestors in complying with applicable BSA regulations. Published administrative rulings have precedential value and may be relied upon by others that are similarly situated. FinCEN does not respond substantively to every request for an administrative ruling and reserves the right to decline to provide a ruling to any request. Administrative ruling requests must be made in accordance with the requirements set out at 31 CFR 1010.711 and may be submitted to administrative.rulings@fincen.gov.

| Money Services Businesses
Application of FinCEN’s Regulations to Virtual Currency Software Development and Certain Investment Activity

Dear [ ]:

This responds to your letters of May 21, 2013 and July 10, 2013, seeking an administrative ruling from the Financial Crimes Enforcement Network (“FinCEN”) regarding the status of [ ] (the “Company”) as a money services business (“MSB”) under the Bank Secrecy Act (“BSA”).…

| Casinos, Depository Institutions, Insurance Industry, Money Services Businesses, Securities and Futures
Administrative Ruling on Application of the Prepaid Access Rule to Closed Loop Prepaid Access Sold or Exchanged in a Secondary Market

 

Dear [ ]:

This responds to your letter of October 26, 2012, seeking an administrative ruling from the Financial Crimes Enforcement Network (“FinCEN”) on behalf of your client, [the Company] regarding the effect your client’s trading in the prepaid access secondary market…

| Casinos, Depository Institutions, Insurance Industry, Money Services Businesses, Securities and Futures
Administrative Ruling on Whether a Company that Offers a Payment Mechanism Based on Payable-Through Drafts to its Commercial Customers is a Money Transmitter

 

Dear [ ]:

This responds to your letter of October 22, 2007, seeking an administrative ruling from the Financial Crimes Enforcement Network (“FinCEN”) on whether your client, [ ] (the “Company”), is a money services business (“MSB”) under the regulations implementing the…

| Casinos, Depository Institutions, Money Services Businesses
FinCEN Issues Ruling on Armored Car Service Transactions

 

The Financial Crimes Enforcement Network (“FinCEN”) is issuing this administrative ruling in response to issues and concerns related to FinCEN ruling FIN-2009-R002.1 That ruling clarified that, when an armored car service (“ACS”) is contracted to conduct transactions on…

| Casinos, Depository Institutions, Money Services Businesses
Treatment of Armored Car Service Transactions Conducted on Behalf of Financial Institution Customers or Third Parties for Currency Transaction Report Purposes

The Financial Crimes Enforcement Network ('FinCEN') is issuing this administrative ruling in response to issues and concerns related to FinCEN ruling FIN-2009-R002.1 That ruling clarified that, when an armored car service ('ACS') is contracted to conduct transactions on behalf of…

| Casinos, Depository Institutions, Insurance Industry, Money Services Businesses, Mortgage Co/Broker, Precious Metals/Jewelry Industry, Securities and Futures
Administrative Ruling Regarding the Participation of Associations of Financial Institutions in the 314(b) Program (Rescinded by FIN-2020-R002)

 

Dear []:

This letter responds to your [] request to the Financial Crimes Enforcement Network ("FinCEN") for an administrative ruling on the definition of "association of financial institutions." Specifically, you requested a determination of whether [the Company] would be…

| Depository Institutions, Mortgage Co/Broker
Compliance Obligations of Certain Loan or Finance Company Affiliates of Federally Regulated Banks and Other Financial Institutions

The Financial Crimes Enforcement Network ("FinCEN") is issuing this Ruling to clarify the requirements under FinCEN's regulations for loan and finance companies that are subsidiaries of financial institutions subject to the same regulations applicable to the parent financial institution and…

| Depository Institutions, Money Services Businesses
Application of Money Services Business Regulations to Daily Money Management Services

Financial Crimes Enforcement Network

Ruling

FIN-2012-R004
Issued: May 25, 2012
Subject: Application of Money Services Business Regulations to Daily Money Management Services

Dear [ ]:
This responds to your…

| Money Services Businesses, Precious Metals/Jewelry Industry, Depository Institutions
Definition of Precious Metals in the Interim Final Rule Requiring Anti-Money Laundering Programs for Dealers in Precious Metals, Stones, or Jewels

Financial Crimes Enforcement Network

Ruling

FIN-2012-R002
Issued: May 25, 2011
Subject: Definition of Precious Metals in the Interim Final Rule Requiring
Anti-Money Laundering Programs for Dealers in Precious
Metals, Stones, or Jewels…

| Depository Institutions, Money Services Businesses
Application of the Prepaid Access Rule to Bank-Controlled Programs

Financial Crimes Enforcement Network

Ruling

FIN-2012-R003
Issued: May 23, 2012
Subject: Application of the Prepaid Access Rule to Bank-Controlled Programs

Dear [ ]:
I am responding to your letter, dated…