2370 Federal Register / Vol. 79, No. 9 / Tuesday, January 14, 2014 / Rules and Regulations 

1The BSA is codified at 12 U.S.C. 1829b, 12 

U.S.C. 1951–1959 and 31 U.S.C. 5311–5314; 5316– 

5332. 

2 31 U.S.C. 5311. 

3See Treasury Order 180–01 (Sept. 26, 2002). 

4Section 5318(h)(1) identifies these minimum 

requirements as follows: In order to guard against 

money laundering through financial institutions, 

each financial institution shall establish anti-money 

laundering programs, including, at a minimum—(A) 

the development of internal policies, procedures, 

and controls; (B) the designation of a compliance 

officer; (C) an ongoing employee training program; 

and (D) an independent audit function to test 

programs. 

5 31 CFR 1010.100(t)(8) and (9). 

6 31 CFR 1026.220. 

7 31 CFR 1026.610 and 1026.620. 

8 31 CFR 1026.320. 

9 31 CFR 1026.300. 

10See 31 U.S.C. 5318(a)(1) (permitting the 

Secretary of the Treasury to delegate BSA duties 

and powers to an appropriate supervising agency) 

and 31 CFR 1010.810(b)(9) (delegating BSA 

examination authority to the Commission). 

11 17 CFR 42.2. 

REVISIONS TO IFR ALTITUDES & CHANGEOVER POINT—Continued 

[Amendment 511 Effective Date February 06, 2014] 

From To MEA 

§ 95.6241 VOR Federal Airway V241 Is Amended To Read in Part 

CRESTVIEW, FL VORTAC .......................................................... *WIREGRASS, AL VORTAC ....................................................... 2000 

*3000—MCA WIREGRASS, AL VORTAC, N BND 

WIREGRASS, AL VORTAC .......................................................... EUFAULA, AL VORTAC .............................................................. #*3000 

*2000—MOCA 

#WIREGRASS R–019 UNSABLE BELOW 6000 USE 

EUFAULA R–199 

§ 95.6521 VOR Federal Airway V521 Is Amended To Read in Part 

WIREGRASS, AL VORTAC .......................................................... CLIOS, AL FIX ............................................................................. *2300 

*1900—MOCA 

CLIOS, AL FIX .............................................................................. MONTGOMERY, AL VORTAC .................................................... 2400 

[FR Doc. 2014–00516 Filed 1–13–14; 8:45 am] 

BILLING CODE 4910–13–P 

COMMODITY FUTURES TRADING 

COMMISSION 

17 CFR Part 42 

RIN 3038–AB90 

Updates to Cross-References to Bank 

Secrecy Act Regulations 

AGENCY: Commodity Futures Trading 

Commission. 

ACTION: Final rule; technical 

amendments. 

SUMMARY: The Commodity Futures 

Trading Commission (‘‘Commission’’) is 

adopting technical amendments to the 

Commission’s regulations that correct 

cross-references to regulations 

administered by the Financial Crimes 

Enforcement Network (‘‘FinCEN’’), a 

bureau of the U.S. Department of 

Treasury, under the Bank Secrecy Act 

(‘‘BSA’’). FinCEN’s regulations have 

been reorganized and transferred to a 

new chapter in the Code of Federal 

Regulations. The amendments update 

the cross-references to FinCEN 

regulations and are to be made effective 

upon publication of this rulemaking. 

DATES: Effective January 14, 2014. 

FOR FURTHER INFORMATION CONTACT: 

Helene D. Schroeder, Special Counsel, 

(202) 418–5424, hschroeder@cftc.gov, 

Commodity Futures Trading 

Commission, Division of Swap Dealer 

and Intermediary Oversight, Three 

Lafayette Centre, 1155 21st Street NW., 

Washington DC 2058. 

SUPPLEMENTARY INFORMATION: 

I. Background 

The BSA 1 authorizes the Secretary of 

the Treasury (the ‘‘Secretary’’) to issue 

regulations requiring financial 

institutions to keep records and file 

reports that the Secretary determines 

have a high degree of usefulness in 

criminal, tax, or regulatory 

investigations or proceedings, or in the 

conduct of intelligence or 

counterintelligence activities, including 

analysis, to protect against international 

terrorism.2 The authority of the 

Secretary to administer the BSA has 

been delegated to the Director of 

FinCEN.3

Section 5318(h) of the BSA requires 

‘‘financial institutions’’ to establish antimoney laundering (‘‘AML’’) programs 

and specifies that these programs must 

contain certain minimum 

requirements.4 Section 1010.100 of 

FinCEN’s regulations defines futures 

commission merchants (‘‘FCMs’’) and 

introducing brokers (‘‘IBs’’) as financial 

institutions.5 As such, FCMs and IBs are 

required to establish AML programs 

under section 5318(h) of the BSA. 

FinCEN regulations also require FCMs 

and IBs to establish customer 

identification programs,6 establish 

special due diligence programs for 

certain foreign accounts,7 detect and 

report suspicious activity on suspicious 

activity reports,8 and file currency 

transaction reports on certain cash 

transactions,9 among other obligations. 

Section 42.2 of the Commissions 

regulations implements the authority 

FinCEN delegated to the Commission to 

examine FCMs and IBs and ensure that 

they comply with the BSA regulations 

to which they are subject,10 and 

specifically requires every FCM and IB 

to comply with the applicable 

provisions of the BSA, the FinCEN 

regulations promulgated thereunder, the 

requirements of 31 U.S.C. 5318(l) and 31 

CFR 103.123, which require that a 

customer identification program be 

adopted as part of the firm’s BSA 

compliance program.11

II. Amending § 42.2 of the 

Commission’s Regulations 

Until March 1, 2011, FinCEN 

regulations implementing the BSA 

appeared at 31 CFR part 103. Section 

42.2 of the Commission’s regulations 

currently references these part 103 

regulations. Effective March 1, 2011, 

FinCEN’s regulations were re-organized, 

re-numbered and transferred to a new 

chapter, chapter X, within title 31. The 

re-numbered and re-organized 

regulations appear within parts 1000 

through 1099 of chapter X and are now 

generally organized by financial 

industry. Thus, part 1026 of chapter X, 

for example, sets forth the regulations 

applicable to FCMs and IBs. Based on 

the reorganization and transfer of 


pmangrum on DSK3VPTVN1PROD with RULES
Federal Register / Vol. 79, No. 9 / Tuesday, January 14, 2014 / Rules and Regulations 2371 

12 5 U.S.C. 553(b)(3)(B). 

13 5 U.S.C. 553(d)(3). 

14 5 U.S.C. 601 et seq. 

15 5 U.S.C. 601(2). 

16 44 U.S.C. 3501 et seq. 

17 7 U.S.C. 19(a). 

FinCEN regulations, the Commission is 

adopting technical amendments to part 

42 of its regulations to replace outdated 

references to part 103 with the 

appropriate references to chapter X. 

III. Related Matters 

A. Administrative Procedure Act 

Notice of proposed rulemaking is not 

required under section 553(b)(3)(B) of 

the Administrative Procedure Act 

(‘‘APA’’) when an agency, for good 

cause, finds ‘‘that notice and public 

procedure thereon are impracticable, 

unnecessary, or contrary to the public 

interest.’’ 12 The amendments described 

herein are technical changes that are 

required to correct inaccurate crossreferences in the relevant regulation and 

will not impose any new substantive 

regulatory requirements on any person. 

For these reasons, the Commission finds 

that it is unnecessary to publish notice 

of these amendments under section 

553(b)(3)(B) of the APA. 

The Commission also finds good 

cause to dispense with the 30-day 

delayed effective date requirement 

under section 553(d)(3) of the APA.13

The technical amendments update 

inaccurate cross references. 

Accordingly, the amendments will be 

effective on the date of publication of 

this action, January 14, 2014. 

B. Regulatory Flexibility Analysis 

The Regulatory Flexibility Act 

(‘‘RFA’’) requires the Commission to 

consider whether a rule it proposes will 

have a significant economic impact on 

a substantial number of small entities 

and either provide a regulatory 

flexibility analysis respecting the 

significant impact or certify that the rule 

will not have such an impact.14 The 

RFA is applicable only to a rule for 

which the Commission publishes a 

general notice of proposed rulemaking 

pursuant to 5 U.S.C. 553(b).15 The 

Commission has determined that it is 

unnecessary to publish a general notice 

of proposed rulemaking for the 

amendments to part 42 of the 

Commission regulations that are being 

adopted by this notice, as the 

amendments are only technical in 

nature and do not subject any party to 

any new substantive regulatory 

requirements. Therefore, neither a 

regulatory flexibility analysis nor a 

certification is required for this 

rulemaking action. 

C. Paperwork Reduction Act 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless it is approved by the Office of 

Management and Budget as required by 

the Paperwork Reduction Act.16 This 

final rulemaking will not impose any 

new recordkeeping or information 

collection requirements, or other 

collections of information. 

D. Cost-Benefit Analysis 

Section 15(a) of the Commodity 

Exchange Act (‘‘CEA’’) 17 requires the 

Commission to consider the costs and 

benefits of its actions before 

promulgating a regulation under the 

CEA. Section 15(a) specifies that the 

costs and benefits shall be considered 

against five broad areas of market and 

public concern: (1) Protection of market 

participants and the public; (2) 

efficiency, competitiveness and 

financial integrity of futures markets; (3) 

price discovery; (4) sound risk 

management practices; and (5) other 

public interest considerations. The 

Commission may give greater weight to 

one or more of the five enumerated 

considerations to determine, in its 

discretion, that a particular rule is 

necessary or appropriate to protect the 

public interest or to effectuate any of the 

provisions or accomplish any of the 

purposes of the CEA. 

This final rule does not impose any 

substantive regulatory obligations on 

any person. Rather, the Commission 

solely is adopting technical 

amendments to § 42.2 of its regulations 

to ensure that its regulations 

implementing its BSA examination 

authority accurately refer to the BSA 

regulations administered by FinCEN. 

Accordingly, there are no quantifiable 

costs associated with this rulemaking. 

The sole qualitative benefit associated 

with this rulemaking is accuracy. 

List of Subjects in 17 CFR Part 42 

Anti-money laundering, Brokers, 

Reporting and recordkeeping 

requirements, Terrorist financing. 

Authority and Issuance 

For the reasons stated in the 

preamble, the Commodity Futures 

Trading Commission is amending part 

42 of title 17 of the Code of Federal 

Regulations as set forth below: 

PART 42—ANTI–MONEY 

LAUNDERING, TERRORIST 

FINANCING 

■ 1. The authority citation for part 42 

continues to read as follows: 

Authority: 7 U.S.C. 1a, 2, 5, 6, 6b, 6d, 6f, 

6g, 7, 7a, 7a–1, 7a–2, 7b, 7b–1, 7b–2, 9, 12, 

12a, 12c, 13a, 13a–1, 13c, 16 and 21; 12 

U.S.C. 1786(q), 1818, 1829b and 1951–1959; 

31 U.S.C. 5311–5314 and 5316–5332; title III, 

secs. 312–314, 319, 321, 326, 352, Pub. L. 

107–56, 115 Stat. 307. 

■ 2. Section 42.2 is revised to read as 

follows: 

§ 42.2 Compliance with Bank Secrecy Act. 

Every futures commission merchant 

and introducing broker shall comply 

with the applicable provisions of the 

Bank Secrecy Act and the regulations 

promulgated by the Department of the 

Treasury under that Act at 31 CFR 

chapter X, and with the requirements of 

31 U.S.C. 5318(l) and the implementing 

regulation jointly promulgated by the 

Commission and the Department of the 

Treasury at 31 CFR 1026.220, which 

require that a customer identification 

program be adopted as part of the firm’s 

Bank Secrecy Act compliance program. 

Issued in Washington, DC, on January 8, 

2014, by the Commission. 

Melissa D. Jurgens, 

Secretary of the Commission 

Appendix to Technical Amendments 

Updating Cross-References to Bank 

Secrecy Act Regulations 

Note: The following appendix will not 

appear in the Code of Federal Regulations. 

Appendix 1—Commission Voting 

Summary 

On this matter, Acting Chairman Wetjen 

and Commissioners Chilton and O’Malia 

voted in the affirmative. 

[FR Doc. 2014–00406 Filed 1–13–14; 8:45 am] 

BILLING CODE 6351–01–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Parts 110 and 165 

[Docket Number USCG–2013–1014] 

RIN 1625–AA00 

Anchorage Grounds and Safety Zone, 

Delaware River; Marcus Hook, PA 

AGENCY: Coast Guard, DHS. 

ACTION: Temporary final rule. 

SUMMARY: The Coast Guard is 

establishing temporary regulations in 


pmangrum on DSK3VPTVN1PROD with RULES