83504 Federal Register / Vol. 88, No. 229 / Thursday, November 30, 2023 / Rules and Regulations 

that the shift of these costs would be de 

minimis and would not change the 

conclusions of the Reporting Rule’s RIA. 

Additionally, the per-reporting 

company burden and cost estimate in 

the Reporting Rule RIA would not be 

affected by the final rule. 

Furthermore, FinCEN notes that the 

change in the reporting timeline for 

reporting companies created or 

registered in 2024 would likely have 

multiple benefits. As discussed in 

Section III.A above, FinCEN received 

many comments in response to the 

NPRM that supported the reporting 

deadline extension and agreed with 

FinCEN’s view that the extension would 

benefit reporting companies. These 

benefits include additional time for 

these companies to understand and 

comply with the requirements of the 

Reporting Rule, as well as greater 

opportunities for FinCEN to efficiently 

respond to questions and address 

problems that reporting companies may 

have in complying. 

V. Effective Date 

This final rule will be effective 

January 1, 2024, the same date as the 

Reporting Rule it is amending but 

potentially fewer than 30 days after this 

rule’s publication in the Federal 

Register. Under 5 U.S.C. 553(d) of the 

Administrative Procedure Act (APA), a 

30-day delayed effective date is 

required, except for ‘‘(1) substantive 

rules which grant or recognize an 

exemption or relieve a restriction; (2) 

interpretative rules and statements of 

policy; or (3) as otherwise provided by 

the agency for good cause found and 

published with the rule.’’ A delayed 

effective date of fewer than 30 days for 

this rule is authorized under both 5 

U.S.C. 553(d)(1) and 553(d)(3). 

First, this rule grants an exemption 

and relieves a restriction by extending 

the reporting deadline for certain 

entities to 90 calendar days, relieving 

these entities from the shorter 30-day 

filing deadline under the Reporting 

Rule. Thus, it may be effective without 

a 30-day delay under 5 U.S.C. 553(d)(1). 

Second, FinCEN finds good cause 

under 5 U.S.C. 553(d)(3) to make this 

rule effective on January 1, 2024, 

because a 30-day delayed effective date 

is unnecessary. The purpose of the 30- 

day delayed effective date is to ‘‘give 

affected parties a reasonable time to 

adjust their behavior before the final 

rule takes effect.’’ Omnipoint Corp. v. 

Fed. Commc’n Comm’n, 78 F.3d 620, 

630 (D.C. Cir. 1996). The parties affected 

by this rule, however, do not need time 

to adjust their behavior because the rule 

does not impose any new obligations on 

them; to the contrary, this rule gives 

affected parties additional time to adjust 

their behavior to the requirements of the 

Reporting Rule. 

List of Subjects in 31 CFR Parts 1010 

Administrative practice and 

procedure, Aliens, Authority 

delegations (Government agencies), 

Banks and banking, Brokers, Business 

and industry, Citizenship and 

naturalization, Commodity futures, 

Currency, Electronic filing, Federal 

savings associations, Federal-States 

relations, Foreign persons, Holding 

companies, Indians, Indian-law, 

Indians-tribal government, Insurance 

companies, Investigations, Investment 

advisers, Investment companies, Law 

enforcement, Penalties, Reporting and 

recordkeeping requirements, Securities, 

Small business, Terrorism, Time. 

Authority and Issuance 

For the reasons set forth in the 

preamble, the U.S. Department of the 

Treasury and Financial Crimes 

Enforcement Network amend 31 CFR 

part 1010 as follows: 

PART 1010—GENERAL PROVISIONS 

■ 1. The authority citation for part 1010 

continues to read as follows: 

Authority: 12 U.S.C. 1829b and 1951– 

1959; 31 U.S.C. 5311–5314 and 5316–5336; 

title III, sec. 314, Pub. L. 107–56, 115 Stat. 

307; sec. 2006, Pub. L. 114–41, 129 Stat. 458– 

459; sec. 701, Pub. L. 114–74, 129 Stat. 599. 

■ 2. In § 1010.380, revise paragraphs 

(a)(1)(i) and (ii) to read as follows: 

§ 1010.380 Reports of beneficial 

ownership information. 

(a) * * * 

(1) * * * 

(i)(A) Any domestic reporting 

company created on or after January 1, 

2024, and before January 1, 2025, shall 

file a report within 90 calendar days of 

the earlier of the date on which it 

receives actual notice that its creation 

has become effective or the date on 

which a secretary of state or similar 

office first provides public notice, such 

as through a publicly accessible registry, 

that the domestic reporting company 

has been created. 

(B) Any domestic reporting company 

created on or after January 1, 2025, shall 

file a report within 30 calendar days of 

the earlier of the date on which it 

receives actual notice that its creation 

has become effective or the date on 

which a secretary of state or similar 

office first provides public notice, such 

as through a publicly accessible registry, 

that the domestic reporting company 

has been created. 

(ii)(A) Any entity that becomes a 

foreign reporting company on or after 

January 1, 2024, and before January 1, 

2025, shall file a report within 90 

calendar days of the earlier of the date 

on which it receives actual notice that 

it has been registered to do business or 

the date on which a secretary of state or 

similar office first provides public 

notice, such as through a publicly 

accessible registry, that the foreign 

reporting company has been registered 

to do business. 

(B) Any entity that becomes a foreign 

reporting company on or after January 1, 

2025, shall file a report within 30 

calendar days of the earlier of the date 

on which it receives actual notice that 

it has been registered to do business or 

the date on which a secretary of state or 

similar office first provides public 

notice, such as through a publicly 

accessible registry, that the foreign 

reporting company has been registered 

to do business. 

* * * * * 

Andrea M. Gacki, 

Director, Financial Crimes Enforcement 

Network. 

[FR Doc. 2023–26399 Filed 11–29–23; 8:45 am] 

BILLING CODE P 

SELECTIVE SERVICE SYSTEM 

32 CFR Part 1665 

RIN 3240–AA04 

Social Security Number Fraud 

Prevention Act of 2017 

Implementation; Correction 

AGENCY: United States Selective Service 

System. 

ACTION: Final rule; request for 

comments; correction. 

SUMMARY: This document makes a 

technical correction in the preamble to 

a rule entitled Social Security Number 

Fraud Prevention Act of 2017 

Implementation, which the Selective 

Service System published in the Federal 

Register of November 16, 2023. This 

notification corrects the effective date of 

the final rule. 

DATES: This correction is effective 

November 29, 2023. 

FOR FURTHER INFORMATION CONTACT: Ms. 

Kelly Cramer, Selective Service System, 

Office of the General Counsel, 703–605– 

4069, kcramer@sss.gov. 

SUPPLEMENTARY INFORMATION: 

Correction 

In the Federal Register of November 

16, 2023, starting on page 78639 in FR 

Doc 2023–25036, make the following 

corrections: 


khammond on DSKJM1Z7X2PROD with RULES
Federal Register / Vol. 88, No. 229 / Thursday, November 30, 2023 / Rules and Regulations 83505 

1. On page 78639, in the third 

column, the ACTION line is corrected to 

read ‘‘ACTION: Final rule; request for 

comments.’’. 

2. On page 78640, in the first column, 

correct the DATES caption to read: DATES: 

The rule is effective November 29, 2023, 

and applicable beginning November 16, 

2023. Comments, if any, are requested 

by December 13, 2023. 

3. On page 78640, in the second 

column, correct the first sentence under 

the heading ‘‘Administrative Procedure 

Act’’ to read ‘‘The Agency finds good 

cause to publish this as a final rule 

because the notice and public procedure 

thereon are impracticable, unnecessary, 

or contrary to the public interest 

because this rule expands protections to 

the public.’’ 

Daniel A. Lauretano, Sr., 

General Counsel. 

[FR Doc. 2023–26305 Filed 11–29–23; 8:45 am] 

BILLING CODE P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 165 

[Docket Number USCG–2023–0910] 

RIN 1625–AA00 

Safety Zone; Laguna Madre, South 

Padre Island, TX 

AGENCY: Coast Guard, Department of 

Homeland Security (DHS). 

ACTION: Temporary final rule. 

SUMMARY: The Coast Guard is 

establishing a temporary safety zone for 

certain navigable waters in the Laguna 

Madre. The safety zone is needed to 

protect personnel, vessels, and the 

marine environment from potential 

hazards created by a firework display 

launched from a stationary barge in the 

Laguna Madre, South Padre Island, 

Texas. Entry of vessels or persons into 

this zone or remaining in the zone when 

it is in effect is prohibited unless 

specifically authorized by the Captain of 

the Port Sector Corpus Christi or a 

designated representative. 

DATES: This rule is effective from 9:30 

p.m. through 11:59 p.m. on December 2, 

2023. 

ADDRESSES: To view documents 

mentioned in this preamble as being 

available in the docket, go to https://

www.regulations.gov, type USCG–2023– 

0910 in the ‘‘SEARCH’’ box and click 

‘‘SEARCH.’’ Click on Open Docket 

Folder on the line associated with this 

rule. 

FOR FURTHER INFORMATION CONTACT: If 

you have questions on this rule, call or 

email Lieutenant Commander Anthony 

Garofalo, Sector Corpus Christi 

Waterways Management Division, U.S. 

Coast Guard; telephone 361–939–5130, 

email CCWaterways@uscg.mil. 

SUPPLEMENTARY INFORMATION: 

I. Table of Abbreviations 

CFR Code of Federal Regulations 

DHS Department of Homeland Security 

FR Federal Register 

NPRM Notice of proposed rulemaking 

§ Section 

U.S.C. United States Code 

II. Background Information and 

Regulatory History 

The Coast Guard is issuing this 

temporary rule without prior notice and 

opportunity to comment pursuant to 

authority under section 4(a) of the 

Administrative Procedure Act (APA) (5 

U.S.C. 553(b)). This provision 

authorizes an agency to issue a rule 

without prior notice and opportunity to 

comment when the agency for good 

cause finds that those procedures are 

‘‘impracticable, unnecessary, or contrary 

to the public interest.’’ Under 5 U.S.C. 

553(b)(B), the Coast Guard finds that 

good cause exists for not publishing a 

notice of proposed rulemaking (NPRM) 

with respect to this rule because it is 

impracticable. We must establish this 

safety zone immediately to protect 

personnel, vessels, and the marine 

environment from potential hazards 

created by the fireworks display and 

lack sufficient time to provide a 

reasonable comment period and then to 

consider those comments before issuing 

the rule. 

Under 5 U.S.C. 553(d)(3), the Coast 

Guard finds that good cause exists for 

making this rule effective less than 30 

days after publication in the Federal 

Register. Delaying the effective date of 

this rule would be contrary to the public 

interest because immediate action is 

needed to address the potential safety 

hazards associated with fireworks 

launched from a barge in the waters of 

the Laguna Madre. 

III. Legal Authority and Need for Rule 

The Coast Guard is issuing this rule 

under authority in 46 U.S.C. 70034. The 

Captain of the Port Sector Corpus 

Christi (COTP) has determined that 

potential hazards associated with the 

fireworks displays occurring from 9:30 

p.m. through 11:59 p.m. on the night of 

December 2, 2023, will be a safety 

concern for anyone in the waters of the 

Laguna Madre area within a 700 yard 

radius of the following point; 26°6′02.1′′ 

N, 97°10′17.7′′ W. The purpose of this 

rule is to ensure safety of vessels and 

persons on these navigable waters in the 

safety zone while the display of the 

fireworks takes place in the Laguna 

Madre. 

IV. Discussion of the Rule 

This rule establishes a temporary 

safety zone on the night of December 2, 

2023. The safety zone will encompass 

certain navigable waters of the Laguna 

Madre, and is defined by a 700 yard 

radius around the launching platform. 

The regulated area encompasses a 700 

yard radius of the following point: 

26°6′02.1′′ N, 97°10′17.7′′ W. The 

fireworks display will take place in 

waters of the Laguna Madre. No vessel 

or person is permitted to enter the 

temporary safety zone during the 

effective period without obtaining 

permission from the COTP or a 

designated representative, who may be 

contacted on Channel 16 VHF–FM 

(156.8 MHz), or by telephone at 361– 

939–0450. The Coast Guard will issue 

Broadcast Notices to Mariners, Local 

Notices to Mariners, and/or Safety 

Marine Information Broadcasts, as 

appropriate. 

V. Regulatory analyses 

We developed this rule after 

considering numerous statutes and 

Executive orders related to rulemaking. 

Below we summarize our analyses 

based on a number of these statutes and 

Executive orders, and we discuss First 

Amendment rights of protestors. 

A. Regulatory Planning and Review 

Executive Orders 12866 and 13563 

direct agencies to assess the costs and 

benefits of available regulatory 

alternatives and, if regulation is 

necessary, to select regulatory 

approaches that maximize net benefits. 

This rule has not been designated a 

‘‘significant regulatory action,’’ under 

Executive Order 12866, as amended by 

Executive Order 14094 (Modernizing 

Regulatory Review). Accordingly, this 

rule has not been reviewed by the Office 

of Management and Budget (OMB). 

This regulatory action determination 

is based on the size, location, and 

duration of the safety zone. The 

temporary safety zone will be enforced 

for a short period of 2.5 hours on the 

night of December 2, 2023. 

The zone is limited to a 700 yard 

radius from the launching position of in 

the navigable waters of the Laguna 

Madre. The rule does not completely 

restrict the traffic within a waterway 

and allows mariners to request 

permission to enter the zone. 


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