Source: https://www.fincen.gov/resources/statutes-regulations/guidance/interagency-guidance-sharing-suspicious-activity-reports
Timestamp: 2019-04-26 10:40:36+00:00

Document:
The Financial Crimes Enforcement Network, along with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision (collectively, the “Federal Banking Agencies”) is issuing this guidance to confirm that under the Bank Secrecy Act and its implementing regulations (and parallel provisions issued by the Federal Banking Agencies): (1) a U.S. branch or agency of a foreign bank may disclose a Suspicious Activity Report to its head office outside the United States; and (2) a U.S. bank or savings association (“depository institution”) may disclose a Suspicious Activity Report to controlling companies1 whether domestic or foreign. This guidance does not address the applicability of any other Federal or state laws.
1 A controlling company is defined as: a) a bank holding company, as defined in Section 2 of the Bank Holding Company Act; b) a savings and loan holding company, as defined in Section 10(a) of the Home Owners’ Loan Act.For purposes of this guidance, a controlling company also includes a company having the power directly or indirectly, to direct the management or policies of an industrial loan company or a parent company or to vote 25% or more of any class of voting shares of an industrial loan company or a parent company.
2 See 31 U.S.C. 5318(g)(2) and 31 C.F.R. § 103.18(e).
3 See 31 C.F.R. § 103.18(e).
4 See 12 C.F.R. § 353.3(g) [Federal Deposit Insurance Corporation]; 12 C.F.R. § 208.62(j) [Board of Governors of the Federal Reserve System]; 12 C.F.R. § 21.11(k) [Office of the Comptroller of the Currency]; 12. C.F.R. § 563.180(b)(12) [Office of Thrift Supervision].
5 However, the Federal Banking Agencies’ regulations require notification of the filing of Suspicious Activity Reports to boards of directors, whether domestic or global. See 12 C.F.R. § 353.3(f) [Federal Deposit Insurance Corporation]; 12. C.F.R. § 208.62(h) [Board of Governors of the Federal Reserve System]; 12 C.F.R. § 21.11(h) [Office of the Comptroller of the Currency]; 12 C.F.R. § 563.180(b)(9) [Office of Thrift Supervision].
6 It should be noted that the requirement that knowledge of a Suspicious Activity Report’s filing may not be disclosed to the controlling entity or party remains, even under this guidance, if there is a reason to believe it may be disclosed to any person involved in the suspicious activity that is the subject of the Suspicious Activity Report.

References: § 103
 § 103
 § 353
 § 208
 § 21
 § 563
 § 353
 § 208
 § 21
 § 563