Broker and Freight Forwarder Financial Responsibility

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Department of Transportation Federal Motor Carrier Safety Administration 49 CFR Parts 386 and 387 [Docket No. FMCSA-2016-0102] RIN 2126-AC10 AGENCY: Federal Motor Carrier Safety Administration (FMCSA), Department of Transportation (DOT). ACTION: Notice of proposed rulemaking. SUMMARY: FMCSA proposes the implementation of certain requirements under the Moving Ahead for Progress in the 21st Century Act (MAP-21). Previously, FMCSA implemented the MAP-21 requirement to increase the financial security amount for brokers from $25,000 to $75,000 for household brokers and from $10,000 to $75,000 for all other property brokers and, for the first time, established financial security requirements for freight forwarders. The agency proposes regulations in five separate areas: Assets readily available; immediate suspension of broker/freight forwarder operating authority; surety or trust responsibilities in cases of broker/freight forwarder financial failure or insolvency; enforcement authority; and entities eligible to provide trust funds for form BMC-85 trust fund filings. DATES: Comments must be received on or before March 6, 2023. ADDRESSES: You may submit comments identified by Docket Number FMCSA - 2016-0102 using any of the following methods: Federal eRulemaking Portal: Go to https://www.regulations.gov/​docket/​FMCSA-2016-0102/​document . Follow the online instructions for submitting comments. Mail: Dockets Operations, U.S. Department of Transportation, 1200 New J…