Notice2023-11458
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Financial Crimes Enforcement Network (FinCEN)
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
May 31, 2023
Issuing agencies
Treasury Department
Abstract
The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other federal agencies to comment on proposed or continuing information collections, as required by the Paperwork Reduction Act of 1995.
Full Text
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<title>Federal Register, Volume 88 Issue 104 (Wednesday, May 31, 2023)</title>
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[Federal Register Volume 88, Number 104 (Wednesday, May 31, 2023)]
[Notices]
[Pages 34929-34930]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-11458]
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DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Financial Crimes Enforcement Network (FinCEN)
AGENCY: Financial Crimes Enforcement Network, U.S. Department of the
Treasury.
ACTION: Notice.
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SUMMARY: The Department of the Treasury, as part of its continuing
effort to reduce paperwork and respondent burden, invites the general
public and other federal agencies to comment on proposed or continuing
information collections, as required by the Paperwork Reduction Act of
1995.
DATES: Comments should be received on or before June 30, 2023 to be
assured of consideration.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
Copies of the submissions may be obtained from Melody Braswell by
emailing <a href="/cdn-cgi/l/email-protection#c8989a8988bcbaada9bbbdbab1e6afa7be"><span class="__cf_email__" data-cfemail="df8f8d9e9fabadbabeacaaada6f1b8b0a9">[email protected]</span></a>, calling (202) 622-1035, or viewing the
entire information collection request at <a href="http://www.reginfo.gov">www.reginfo.gov</a>.
SUPPLEMENTARY INFORMATION:
Financial Crimes Enforcement Network (FinCEN)
1. Title: Information Collection Requirements in Connection with
the Imposition of a Special Measure Against Commercial Bank of Syria,
Including its Subsidiary, Syrian Lebanese Commercial Bank, as a
Financial Institution of Primary Money Laundering Concern.
OMB Control Number: 1506-0036.
Report Number: Not applicable.
Abstract: FinCEN is issuing this notice to renew the OMB control
number for the imposition of a special measure against the Commercial
Bank of Syria, including its subsidiary Syrian Lebanese Commercial
Bank, as a financial institution of primary money
[[Page 34930]]
laundering concern pursuant to the authority contained in 31 U.S.C.
5318A. See 31 CFR 1010.653.
Type of Review: Extension without change of a currently approved
collection.
Affected Public: Businesses or other for-profit institutions, and
not-for-profit institutions.
Frequency: One time notification and recordkeeping associated with
the notification. See 31 CFR part 1010.653(b)(2)(i)(A) and 31 CFR part
1010.653(b)(3)(i).
Estimated Number of Respondents: 15,960.
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\1\ All counts are from the Q3 2022 Federal Financial
Institutions Examination Council (FFIEC) Call Report data, available
at <a href="https://cdr.ffiec.gov/public/pws/downloadbulkdata.aspx">https://cdr.ffiec.gov/public/pws/downloadbulkdata.aspx</a>. Data for
institutions that are not insured, are insured under non-FDIC
deposit insurance regimes, or do not have a Federal functional
regulator are from the FDIC's Research Information System, available
at <a href="https://www.fdic.gov/foia/ris/index.html">https://www.fdic.gov/foia/ris/index.html</a>.
\2\ Credit union data are from the National Credit Union
Administration (NCUA) for Q3 2022, available at <a href="https://ncua.gov/analysis/credit-union-corporate-call-report-data">https://ncua.gov/analysis/credit-union-corporate-call-report-data</a>.
\3\ According to the SEC, there are 3,527 brokers or dealers in
securities as of the end of fiscal year 2021. See SEC, Fiscal Year
2023 Congressional Budget Justification, p. 33, <a href="https://www.sec.gov/files/FY%202023%20Congressional%20Budget%20Justification%20Annual%20Performance%20Plan_FINAL.pdf">https://www.sec.gov/files/FY%202023%20Congressional%20Budget%20Justification%20Annual%20Performance%20Plan_FINAL.pdf</a>.
\4\ According to information provided by the SEC as of December
2022 (including filings made through January 20, 2023), there are
1,378 open-end registered investment companies that report on Form
N-CEN. FinCEN assesses that such companies would be responsible for
implementing the requirements imposed through the final rule issued
on March 15, 2006.
\5\ As of November 30, 2022, there are 62 futures commission
merchants. See Commodity Futures Trading Commission, ``Financial
Data for FCMs'', dated November 2022, available at <a href="https://www.cftc.gov/MarketReports/financialfcmdata/index.htm">https://www.cftc.gov/MarketReports/financialfcmdata/index.htm</a>. Additionally,
as of December 31, 2022, there are 974 introducing brokers in
commodities according to the Commodity Futures Trading Commission.
These two counts total 1,036.
Respondent Financial Institutions by Category
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Type of institution Count
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Banks, savings associations, thrifts, trust companies \1\.... 5,102
Credit Unions \2\............................................ 4,917
Broker-dealers \3\........................................... 3,527
Mutual funds \4\............................................. 1,378
Futures commission merchants and introducing brokers in 1,036
commodities \5\.............................................
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Total.................................................... 15,960
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Estimated Time per Respondent: 1 hour.
Estimated Total Annual Burden: 15,960 hours (15,960 respondents x 1
hour).
2. Title: Information Collection Requirements in Connection with
the Imposition of the Fifth Special Measure Against the Islamic
Republic of Iran as a Jurisdiction of Primary Money Laundering Concern.
OMB Control Number: 1506-0074.
Report Number: Not applicable.
Abstract: FinCEN is issuing this notice to renew the OMB control
number for the imposition of a special measure against the Islamic
Republic of Iran as a jurisdiction of primary money laundering concern
pursuant to the authority contained in 31 U.S.C. 5318A. See 31 CFR
1010.661.
Type of Review: Extension without change of a currently approved
collection.
Affected Public: Businesses or other for-profit institutions, and
not-for-profit institutions.
Frequency: One time notification and recordkeeping associate with
the notification. See 31 CFR 1010.661(b)(3)(i)(A) and
1010.661(b)(4)(i).
Estimated Number of Respondents: 15,960.
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\6\ All counts are from the Q3 2022 Federal Financial
Institutions Examination Council (FFIEC) Call Report data, available
at <a href="https://cdr.ffiec.gov/public/pws/downloadbulkdata.aspx">https://cdr.ffiec.gov/public/pws/downloadbulkdata.aspx</a>. Data for
institutions that are not insured, are insured under non-FDIC
deposit insurance regimes, or do not have a Federal functional
regulator are from the FDIC's Research Information System, available
at <a href="https://www.fdic.gov/foia/ris/index.html">https://www.fdic.gov/foia/ris/index.html</a>.
\7\ Credit union data are from the National Credit Union
Administration (NCUA) for Q3 2022, available at <a href="https://ncua.gov/analysis/credit-union-corporate-call-report-data">https://ncua.gov/analysis/credit-union-corporate-call-report-data</a>.
\8\ According to the SEC, there are 3,527 brokers or dealers in
securities as of the end of fiscal year 2021. See SEC, Fiscal Year
2023 Congressional Budget Justification, p. 33, <a href="https://www.sec.gov/files/FY%202023%20Congressional%20Budget%20Justification%20Annual%20Performance%20Plan_FINAL.pdf">https://www.sec.gov/files/FY%202023%20Congressional%20Budget%20Justification%20Annual%20Performance%20Plan_FINAL.pdf</a>.
\9\ According to information provided by the SEC as of December
2022 (including filings made through January 20, 2023), there are
1,378 open-end registered investment companies that report on Form
N-CEN. FinCEN assesses that such companies would be responsible for
implementing the requirements imposed through the final rule issued
on March 15, 2006.
\10\ As of November 30, 2022, there are 62 futures commission
merchants. See Commodity Futures Trading Commission, ``Financial
Data for FCMs'', dated November 2022, available at <a href="https://www.cftc.gov/MarketReports/financialfcmdata/index.htm">https://www.cftc.gov/MarketReports/financialfcmdata/index.htm</a>. Additionally,
as of December 31, 2022, there are 974 introducing brokers in
commodities according to the Commodity Futures Trading Commission.
These two counts total 1,036.
Respondent Financial Institutions by Category
------------------------------------------------------------------------
Type of Institution Count
------------------------------------------------------------------------
Banks, savings associations, thrifts, trust companies \6\.... 5,102
Credit Unions \7\............................................ 4,917
Broker-dealers \8\........................................... 3,527
Mutual funds \9\............................................. 1,378
Futures commission merchants and introducing brokers in 1,036
commodities \10\............................................
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Total.................................................... 15,960
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Estimated Time per Respondent: 1 hour.
Estimated Total Annual Burden: 15,960 hours (15,960 respondents x 1
hour).
Authority: 44 U.S.C. 3501 et seq.
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2023-11458 Filed 5-30-23; 8:45 am]
BILLING CODE 4810-02-P
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