9506 Federal Register / Vol. 80, No. 35 / Monday, February 23, 2015 / Notices 

4FinCEN estimates that it will take each MSB that 

is not a prepaid provider one hour to respond to 

this information collection, for a total of 252,100 

hours. FinCEN estimates that it will take each MSB 

that is a prepaid provider two minutes per prepaid 

card issued, for a total of 86,100 hours. Combined, 

the estimated hourly burden for MSBs is 338,210. 

5 Ibid. 

1The federal functional regulator for the 

securities industry is the U.S. Securities and 

Exchange Commission (‘‘SEC’’) and, for the futures 

industry, it is the Commodity Futures Trading 

Commission (‘‘CFTC’’). 

2The BSAR was approved by the Office of 

Management and Budget (‘‘OMB’’) under control 

number 1506–0065. The BSAR is a single report 

that replaced previous individual SAR forms for 

depository institutions, casinos, money services 

businesses, securities brokers or dealers, mutual 

funds, futures commission merchants, introducing 

brokers in commodities, and insurance companies, 

3Language expanding the scope of the BSA to 

intelligence or counter-intelligence activities to 

protect against international terrorism was added by 

Section 358 of the Uniting and Strengthening 

America by Providing Appropriate Tools Required 

to Intercept and Obstruct Terrorism Act of 2001, 

Public Law 107–56. 

program must be maintained for five 

years. 

Current Action: Renewal without 

change to the existing regulations. 

Affected Public: Businesses and other 

for-profit institutions. 

Burden: Estimated Number of 

Respondents: 327,206. 

31 CFR 1022.210 = 324,100. 

31 CFR 1024.210 = 3,000. 

31 CFR 1028.210 = 6. 

Estimated Number of Responses: 

2,838,406. 

31 CFR 1022.210 = 2,835,400. 

31 CFR 1024.210 = 3,000. 

31 CFR 1028.210 = 6. 

Estimated at one hour per respondent. 

31 CFR 1022.210 = 252,100.4

31 CFR 1024.210 = 3,000. 

31 CFR 1028.210 = 6. 

Estimated Number of Hours: 255,106. 

Estimated at two minutes per prepaid 

card issued. 

31 CFR 1022.210 = 86,110.5

Estimated Total Number of hours: 

341,216 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless it displays a valid control 

number assigned by OMB. Records 

required to be retained under the BSA 

must be retained for five years. 

Generally, information collected 

pursuant to the BSA is confidential but 

may be shared as provided by law with 

regulatory and law enforcement 

authorities. 

Request for Comments 

Comments submitted in response to 

this notice will be summarized and/or 

included in the request for OMB 

approval. All comments will become a 

matter of public record. Comments are 

invited on: (a) Whether the collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information shall have practical utility; 

(b) the accuracy of the agency’s estimate 

of the burden of the collection of 

information; (c) ways to enhance the 

quality, utility, and clarity of the 

information to be collected; (d) ways to 

minimize the burden of the collection of 

information on respondents, including 

through the use of automated collection 

techniques or other forms of information 

technology; and (e) estimates of capital 

or start-up costs and costs of operation, 

maintenance and purchase of services to 

provide information. 

Dated: February 13, 2015. 

Jennifer Shasky Calvery, 

Director, Financial Crimes Enforcement 

Network. 

[FR Doc. 2015–03586 Filed 2–20–15; 8:45 am] 

BILLING CODE 4810–02–P 

DEPARTMENT OF THE TREASURY 

Financial Crimes Enforcement Network 

Proposed Information Collection; 

Comment Request; Renewal of 

Suspicious Activity Reporting 

Requirements by Brokers or Dealers in 

Securities and Futures Commission 

Merchants and Introducing Brokers in 

Commodities. 

AGENCY: Financial Crimes Enforcement 

Network (‘‘FinCEN’’), Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: FinCEN invites comment on 

the renewal of an information collection 

requirement for the recordkeeping and 

reporting of suspicious activities by 

brokers or dealers in securities and 

futures commission merchants (FCMs) 

and introducing brokers in commodities 

(IBs).1 The Bank Secrecy Act Suspicious 

Activity Report, (‘‘BSAR’’) 2 will be used 

by these entities to report suspicious 

activity to FinCEN. This request for 

comments also covers 31 CFR 1023.320, 

relating to reports by brokers or dealers 

in securities of suspicious transactions, 

and 31 CFR 1026.320, reports by futures 

commission merchants and introducing 

brokers in commodities of suspicious 

transactions. This request for comments 

is being made pursuant to the 

Paperwork Reduction Act (‘‘PRA’’) of 

1995, Public Law 104–13, 44 U.S.C. 

3506(c)(2)(A). 

DATES: Written comments are welcome 

and must be received on or before April 

24, 2015. 

ADDRESSES: Written comments should 

be submitted to: Policy Division, 

Financial Crimes Enforcement Network, 

Department of the Treasury, P.O. Box 

39, Vienna, Virginia 22183, ‘‘Attention: 

PRA Comments—SAR RequirementsSecurities and Futures Industries.’’ 

Comments also may be submitted by 

electronic mail to the following Internet 

address: regcomments@fincen.gov, again 

with a caption, in the body of the text, 

‘‘Attention: PRA Comments—SAR 

Requirements-Securities and Futures 

Industry.’’ 

Inspection of comments. Comments 

may be inspected, between 10 a.m. and 

4 p.m., in the FinCEN reading room in 

Vienna, VA. Persons wishing to inspect 

the comments submitted must request 

an appointment with the Disclosure 

Officer by telephoning (703) 905–5034 

(not a toll free call). 

FOR FURTHER INFORMATION CONTACT: The 

FinCEN Resource Center at 800–767– 

2825 or email frc@fincen.gov. 

SUPPLEMENTARY INFORMATION: The Bank 

Secrecy Act (‘‘BSA’’), Titles I and II of 

Public Law 91–508, as amended, 

codified at 12 U.S.C. 1829(b), 12 U.S.C. 

1951–1959, and 31 U.S.C. 5311–5332, 

authorizes the Secretary of the Treasury, 

among other things, to require financial 

institutions to keep records and file 

reports that are determined to have a 

high degree of usefulness in criminal, 

tax, and regulatory matters, or in the 

conduct of intelligence or counterintelligence activities to protect against 

international terrorism, and to 

implement counter-money laundering 

programs and compliance procedures.3

Regulations implementing Title II of 

the BSA appear at 31 CFR Chapter X. 

The Secretary of the Treasury was 

granted authority in 1992, with the 

enactment of 31 U.S.C. 5318(g), to 

require financial institutions to report 

suspicious transactions. The authority 

of the Secretary of the Treasury to 

administer the BSA has been delegated 

to the Director of FinCEN. The final 

Broker-Dealer SAR rule can be found at 

31 CFR 1023.320. The final FCM–IB 

SAR rule can be found at 31 CFR 

1026.320. 

The information collected is required 

to be provided pursuant to 31 U.S.C. 

5318(g), 31 CFR 1023.320 and 31 CFR 

1026.320. This information will be 

made available, in accordance with 

strict safeguards, to appropriate criminal 

law enforcement and regulatory 

personnel, and to the registered 

securities and futures associations and 

national exchanges (so-called selfVerDate Sep<11>2014 14:19 Feb 20, 2015 Jkt 235001 PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 E:\FR\FM\23FEN1.SGM 23FEN1

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Federal Register / Vol. 80, No. 35 / Monday, February 23, 2015 / Notices 9507 

4See footnote 2. 

5The reporting and recordkeeping burden of the 

regulations (31 CFR 1023.320 and 1026.320) is 

reflected in the burden for the BSAR as approved 

under 1506–0065. This listed burden is assigned to 

maintain control number 1506–0019 active as a 

reporting requirement for 31 CFR 1023.320 and 

1026.320. 

regulatory organizations) for use in 

official performance of their duties, for 

regulatory purposes, and in 

investigations and proceedings 

involving domestic and international 

money laundering, terrorist financing, 

tax violations, fraud, and other financial 

crimes. 

Broker-dealers, futures commission 

merchants, and introducing brokers in 

commodities required to report 

suspicious transactions, or reporting 

such transactions voluntarily, will be 

subject to the protection from liability 

contained in 31 U.S.C. 5318(g)(3) and to 

the prohibition contained in 31 U.S.C. 

5318(g)(2) against notifying any person 

involved in the transaction that a 

suspicious activity report has been filed. 

Title: Suspicious Activity Reporting 

by Brokers or Dealers in Securities and 

Futures Commission Merchants and 

Introducing Brokers in Commodities (31 

CFR 1023.320, and 31 CFR 1026.320). 

OMB Number: 1506–0019. 

Abstract: This notice renews the SAR 

reporting and recordkeeping 

requirements for the above mentioned 

entities. Additionally, this notice 

updates the title of the information 

collection under this OMB control 

number to specifically define the 

entities addressed under this number. 

Form Number: FinCEN Form 111 

(BSAR).4

Type of Review: Renewal and update 

of a currently approved information 

collection. 

Affected public: Businesses or other 

for-profit institutions. 

Frequency: As required. 

Estimated Reporting and 

Recordkeeping Burden: 1 hour.5

Estimated Number of Respondents: 

8,300. 

Estimated Total Annual Responses: 

8,300. 

Estimated Total Annual Reporting 

and Recordkeeping Burden: 8,300 

hours. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless the collection of information 

displays a valid OMB control number. 

Records required to be retained under 

the BSA must be retained for five years. 

Request for Comments: Comments 

submitted in response to this notice will 

be summarized and/or included in the 

request for OMB approval. All 

comments will become a matter of 

public record. Comments are invited on: 

(a) Whether the collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information shall have practical utility; 

(b) the accuracy of the agency’s estimate 

of the burden of the collection of 

information; (c) ways to enhance the 

quality, utility, and clarity of the 

information to be collected; (d) ways to 

minimize the burden of the collection of 

information on respondents, including 

through the use of automated collection 

techniques or other forms of information 

technology; and (e) estimates of capital 

or start-up costs and costs of operation, 

maintenance and purchase of services to 

provide information. 

Dated: February 13, 2015. 

Jennifer Shasky Calvery, 

Director, Financial Crimes Enforcement 

Network. 

[FR Doc. 2015–03584 Filed 2–20–15; 8:45 am] 

BILLING CODE 4810–02P–P 


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