Treasury Department, Financial Crimes Enforcement Network, Securities and Exchange Commission
The Department of the Treasury and the SEC are jointly issuing a proposed rulemaking implementing the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 with regard to certain investment advisers. If, as proposed in a separate rulemaking, certain investment advisers are included in the definition of "financial institution" under the Bank Secrecy Act, the Secretary of the Treasury and the SEC will be required to jointly prescribe a regulation that, among other things, requires investment advisers to implement reasonable procedures to verify the identities of their customers.
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 the Treasury Financial Crimes Enforcement Network 31 CFR Part 1032 RIN 1506-AB66 Securities and Exchange Commission 17 CFR Part 275 [Release No. BSA-1; File No. S7-2024-02] RIN 3235-AN34 AGENCY: Financial Crimes Enforcement Network (“FinCEN”), Department of the Treasury; Securities and Exchange Commission (“SEC” or “Commission”). ACTION: Joint notice of proposed rulemaking. SUMMARY: The Department of the Treasury and the SEC are jointly issuing a proposed rulemaking implementing the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 with regard to certain investment advisers. If, as proposed in a separate rulemaking, certain investment advisers are included in the definition of “financial institution” under the Bank Secrecy Act, the Secretary of the Treasury and the SEC will be required to jointly prescribe a regulation that, among other things, requires investment advisers to implement reasonable procedures to verify the identities of their customers. DATES: Written comments on this notice of joint proposed rulemaking (“NPRM”) must be submitted on or before July 22, 2024. ADDRESSES: Treasury: Comments may be submitted by any of the following methods: Federal E-Rulemaking Portal: http://www.regulations.gov . Follow the instructions for submitting comments. Refer to Docket Number FINCEN-2024-0011. Mail: Policy Division, Financial Crim…
Citation: 89 FR 44571
