Notice2024-21280
Privacy Act of 1974; System of Records
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
September 19, 2024
Issuing agencies
Treasury Department
Abstract
In accordance with the Privacy Act of 1974, as amended (Privacy Act), the Department of the Treasury (Treasury), Departmental Offices proposes to establish a new Treasury system of records entitled "Department of the Treasury, Departmental Offices .413--Outbound Investment Security Program Notification System" for information collected in connection with the implementation of the Executive order, "Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concern." This action is necessary to meet the requirements of the Privacy Act to publish in the Federal Register notice of the existence and character of the system of records maintained by Treasury.
Full Text
<html>
<head>
<title>Federal Register, Volume 89 Issue 182 (Thursday, September 19, 2024)</title>
</head>
<body><pre>
[Federal Register Volume 89, Number 182 (Thursday, September 19, 2024)]
[Notices]
[Pages 76917-76919]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-21280]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Privacy Act of 1974; System of Records
AGENCY: Departmental Offices, Department of the Treasury.
ACTION: Notice of a new system of records.
-----------------------------------------------------------------------
SUMMARY: In accordance with the Privacy Act of 1974, as amended
(Privacy Act), the Department of the Treasury (Treasury), Departmental
Offices proposes to establish a new Treasury system of records entitled
``Department of the Treasury, Departmental Offices .413--Outbound
Investment Security Program Notification System'' for information
collected in connection with the implementation of the Executive order,
``Addressing United States Investments in Certain National Security
Technologies and Products in Countries of Concern.'' This action is
necessary to meet the requirements of the Privacy Act to publish in the
Federal Register notice of the existence and character of the system of
records maintained by Treasury.
DATES: Written comments must be received by October 21, 2024. The new
routine uses will be applicable on October 21, 2024 unless Treasury
receives comments and determines that changes to the system of records
notice are necessary.
ADDRESSES: Comments may be submitted by any of the following methods:
<bullet> Federal E-rulemaking Portal: <a href="https://www.regulations.gov">https://www.regulations.gov</a>.
Follow the instructions for submitting comments. Electronic submission
of comments allows the commenter maximum time to prepare and submit a
comment and ensures timely receipt.
<bullet> Mail: U.S. Department of the Treasury, Attention: Meena R.
Sharma, Director, Office of Investment Security Policy and
International Relations, 1500 Pennsylvania Avenue NW, Washington, DC
20220.
Treasury encourages comments to be submitted via <a href="https://www.regulations.gov">https://www.regulations.gov</a>. All comments submitted, including attachments and
other supporting material, will be made public, including any
personally identifiable or confidential business information that is
included in a comment. Therefore, commenters should submit only
information that they wish to make publicly available. Commenters who
wish to remain anonymous should not include identifying information in
their comments.
FOR FURTHER INFORMATION CONTACT: For general questions and questions
regarding privacy issues, please contact: Ryan Law, Deputy Assistant
Secretary for Privacy, Transparency, and Records, Department of the
Treasury, 1500 Pennsylvania Avenue NW, Washington, DC 20220; telephone:
(202) 622-5710.
SUPPLEMENTARY INFORMATION: In accordance with the Privacy Act of 1974,
5 U.S.C. 552a, as amended (the Privacy Act), the Department of the
Treasury (Treasury), Departmental Offices proposes to establish a new
system of records entitled ``Department of the Treasury, Departmental
Offices .413--Outbound Investment Security Program Notification
System'' for information collected in connection with the
implementation of Executive Order 14105 of August 9, 2023, 88 FR 54867
(the Outbound Order).
As background, on August 9, 2023, the President issued the Outbound
Order, which declares a national emergency to address the threat to the
United States posed by countries of concern, which seek to develop and
exploit sensitive technologies or products critical for military,
intelligence, surveillance, or cyber-enabled capabilities. Among other
things, the Outbound Order directs the Secretary of the Treasury to
issue regulations that require U.S. persons to provide notification of
information to Treasury regarding certain transactions involving a
person of a country of concern that is engaged in certain activities
involving covered national security technologies and products that may
contribute to the threat to the national security of the United States
as identified under the Outbound Order. The Outbound Order also directs
the Secretary of the Treasury to issue regulations that prohibit
certain transactions by a U.S. person involving a person of a country
of concern that is engaged in certain activities involving covered
national security technologies and products that pose a particularly
acute national security threat to the United States. The Outbound Order
authorizes the Secretary of the Treasury to exempt from applicable
notification or prohibition requirements any transaction or
transactions determined to be in the national interest of the United
States. On August 9, 2023, Treasury issued an Advance Notice of
Proposed Rulemaking, 88 FR 54961 (published August 14, 2023), to
explain initial considerations and seek public comment on
implementation of the Outbound Order.
On June 21, 2024, Treasury issued a Notice of Proposed Rulemaking
(NPRM) to seek public comment on the proposed rule, 89 FR 55846
(published July 5, 2024). As described in the NPRM, Treasury intends to
require U.S. persons to provide notification of certain transactions
under its implementing regulations. This information would include
relevant details on the U.S. person(s) involved in the transaction as
well as information on the transaction and the foreign person(s)
involved. These notifications would increase the U.S. Government's
visibility into transactions by U.S. persons or their controlled
foreign entities and involving technologies and products relevant to
the threat to the national security of the United States due to the
policies and actions of countries of concern. These notifications would
also be helpful in highlighting aggregate sector trends and related
capital flows as well as informing future policy development. Treasury
also intends to require any U.S. person seeking a national interest
exemption for a particular transaction to submit information to
Treasury regarding the scope of that transaction including, as
applicable, the information that would be required for a notification
under the implementing regulations (such transactions, together with
transactions that would be required to be notified to Treasury, are
[[Page 76918]]
referred to herein as ``transactions notified to Treasury'').
The new system of records will support Treasury's collection of
information in the performance of its analysis of these transactions,
and for other purposes associated with its national security functions.
The system may include records from other systems of records both
within Treasury and in records provided by certain other Executive
Branch agencies. Any records from another Treasury system of records or
another Executive Branch agency's system of records for which an
exemption is claimed under 5 U.S.C. 552a(j) or (k) that may also be
included in this system of records retain the same exempt status as
such records have in the system for which such exemption is claimed.
Treasury will consult with the Department of Commerce and, as
appropriate, certain other Executive Branch agencies on analysis of
transactions consistent with the Outbound Order. Records will be
protected according to applicable rules and policies with system access
being limited to individuals who need to know the information for the
performance of their official duties.
The related information collections have been submitted to the
Office of Management and Budget on July 8, 2024 under control number:
202407-1505-002.
Additionally, Treasury's Departmental Offices is issuing a separate
Notice of Proposed Rulemaking to exempt this system of records from
certain provisions of the Privacy Act.
This established system will be included in Treasury's inventory of
record systems. Below is the description of the ``Department of the
Treasury, Departmental Offices .413--Outbound Investment Security
Program Notification System.''
In accordance with 5 U.S.C. 552a(r), Treasury has provided a report
of this new system to OMB and to the U.S. Congress.
Dated: September 12, 2024.
Ryan Law,
Deputy Assistant Secretary for Privacy, Transparency, and Records.
SYSTEM NAME AND NUMBER:
Department of the Treasury, Departmental Offices .413--Outbound
Investment Security Program Notification System.
SECURITY CLASSIFICATION:
Classified.
SYSTEM LOCATION:
Records are maintained at the Departmental Offices: 1500
Pennsylvania Avenue NW, Washington, DC 20220.
SYSTEM MANAGER(S):
a. Director, Office of Investment Security Policy and International
Relations, U.S. Department of the Treasury, 1500 Pennsylvania Avenue
NW, Washington, DC 20220.
b. Director, Office of Global Transactions Review, U.S. Department
of the Treasury, 1500 Pennsylvania Avenue NW, Washington, DC 20220.
c. Chief Information Officer, U.S. Department of the Treasury, 1750
Pennsylvania Avenue NW, Washington, DC 20220.
AUTHORITY FOR MAINTENANCE OF THE SYSTEM:
31 U.S.C. 321; 5 U.S.C. 301; 44 U.S.C. 1301; E.O. 9397, 12333,
12968, 13478, 13526, 14105
PURPOSE(S) OF THE SYSTEM:
The purpose of this system is to collect information submitted by
the relevant party regarding certain transactions notified to Treasury,
and other available information related to such transactions, and
disseminate such information to the Department of Commerce and, as
appropriate, certain other Executive Branch agencies, in connection
with the analysis of such transactions consistent with the Outbound
Order.
CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM:
The system covers individual U.S. persons that are party to or
otherwise involved in a transaction notified to Treasury and whose
information is provided to Treasury through the notifications or
through other means. The term ``U.S. person'' is defined in the NPRM,
and consistent with the Outbound Order, to mean ``any United States
citizen, lawful permanent resident, entity organized under the laws of
the United States or any jurisdiction within the United States,
including any foreign branch of any such entity, or any person in the
United States.''
CATEGORIES OF RECORDS IN THE SYSTEM:
Records consist of information submitted to Treasury regarding
certain transactions notified to Treasury and other available
information related to such transactions. Records include, but may not
be limited to, the following information, which is being collected
either pursuant to the Outbound Order and implementing regulations or
as needed to administer the Outbound Investment Security Program
Notification System.
(1) Full name (last, middle, first)
(2) Position/job title
(3) Email address (personal/business)
(4) Mailing address (personal/business)
(5) Phone number (personal/business); and
(6) Employer (name and business location)
RECORD SOURCE CATEGORIES:
The information contained in the records in the Outbound Investment
Security Program Notification System may be provided by the individual
who is the subject of the record, their representative, the
representative of an entity filing a notification to Treasury, or
through other means.
ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES
OF USERS AND PURPOSES OF SUCH USES:
Only to the extent consistent with the Outbound Order and the
implementing regulations, and in addition to those disclosures
generally permitted under the Privacy Act of 1974, 5 U.S.C. 552a(b),
records and/or information or portions thereof maintained as part of
this system may be disclosed outside Treasury as a routine use pursuant
to 5 U.S.C. 552a(b)(3) as follows:
(1) To appropriate agencies, entities, and persons, including the
United States Department of Justice (DOJ), when such records and/or
information or portions thereof are relevant to any judicial or
administrative action or proceeding;
(2) To any domestic governmental entity, or to any foreign
governmental entity of a United States partner or ally, where the
information or documentary materials are important to the national
security analysis or actions of such governmental entity or Treasury,
subject to appropriate confidentiality and classification requirements;
(3) To Congress or to any duly authorized committee or subcommittee
of Congress;
(4) To the National Archives and Records Administration or General
Services Administration pursuant to records management inspections
being conducted under the authority of 44 U.S.C. 2904 and 2906;
(5) To appropriate agencies, entities, and persons when (1)
Treasury suspects or has confirmed that there has been a breach of the
system of records; (2) Treasury has determined that as a result of the
suspected or confirmed breach there is a risk of harm to individuals,
Treasury (including its information systems, programs, and operations),
the Federal Government, or national security; and (3) the disclosure
made to such agencies, entities, and persons is
[[Page 76919]]
reasonably necessary to assist in connection with Treasury's efforts to
respond to the suspected or confirmed breach or to prevent, minimize,
or remedy such harm;
(6) To another Federal agency or Federal entity, when Treasury
determines that information from this system of records is reasonably
necessary to assist the recipient agency or entity in (1) responding to
a suspected or confirmed breach or (2) preventing, minimizing, or
remedying the risk of harm to individuals, the recipient agency or
entity (including its information systems, programs, and operations),
the Federal Government, or national security, resulting from a
suspected or confirmed breach;
(7) To the Department of Commerce and, as appropriate, certain
other Executive Branch agencies, consistent with the Outbound Order and
the implementing regulations; and,
(8) To parties to transactions when Treasury requires additional
information or clarification on issues related to individuals involved
in the transaction.
POLICIES AND PRACTICES FOR STORAGE OF RECORDS:
Records in this system are stored in security controlled physical
locations, using information technology that follows federal
information security standards and directives.
POLICIES AND PRACTICES FOR RETRIEVAL OF RECORDS:
Records in this system may be retrieved, for authorized purposes,
by name or another unique identifier.
POLICIES AND PRACTICES FOR RETENTION AND DISPOSAL OF RECORDS:
Records in this system are maintained in a secure IT system
following federal information security standards and directives and in
security controlled physical locations according to the General Records
Schedule 5.2, item 020, Intermediary Records. Records will be disposed
of in accordance with the requirements of the Federal Records Act and
applicable record retention schedules.
ADMINISTRATIVE, TECHNICAL, AND PHYSICAL SAFEGUARDS:
Records in this system are safeguarded in accordance with
applicable rules and policies, including all applicable Treasury
information systems security and access policies. Strict controls are
imposed to minimize the risk of compromising the information that is
being stored. Access to the records in this system is limited to those
individuals who have appropriate permissions and a need to know for the
performance of their official duties. User activity is recorded by the
system for audit purposes. Electronic records are encrypted at rest and
in transit. Records are maintained in buildings subject to 24-hour
security.
RECORD ACCESS PROCEDURES:
See ``Notification Procedures'' below.
CONTESTING RECORD PROCEDURES:
See ``Notification Procedures'' below.
NOTIFICATION PROCEDURES:
The Secretary of the Treasury has exempted this system from the
notification, access, and amendment procedures of the Privacy Act
because it contains classified information and investigatory material
compiled for law enforcement purposes, other than material within the
scope of subsection (j)(2) of the Privacy Act. Subject to the
foregoing, Treasury will consider individual requests to determine
whether or not information may be released. Thus, individuals seeking
notification of and access to any record contained in this system of
records, or seeking to contest its content, may inquire in writing in
accordance with instructions appearing at 31 CFR part 1, subpart C,
Appendix A. Requests for information and specific guidance on where to
send requests for records may be addressed to Director, FOIA Services,
Department of the Treasury, 1750 Pennsylvania Avenue NW, Washington, DC
20220.
When seeking records about yourself from this system of records or
any other Treasury system of records your request must conform with the
Privacy Act regulations set forth in 31 CFR 1.26. While no specific
form is required, you may obtain forms for this purpose from the
Director, FOIA Services, Department of the Treasury, 1750 Pennsylvania
Avenue NW, Washington, DC 20220.
EXEMPTIONS PROMULGATED FOR THE SYSTEM:
Certain records in this system are exempt from 5 U.S.C. 552a(c)(3),
(d)(1), (2), (3), and (4), (e)(1), (e)(4)(G), (H), and (I), and (f) of
the Privacy Act pursuant to 5 U.S.C. 552a(k)(1) and (k)(2).
HISTORY:
None.
[FR Doc. 2024-21280 Filed 9-18-24; 8:45 am]
BILLING CODE 4810-AK-P
</pre></body>
</html>Indexed from Federal Register on September 19, 2024.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.