Customer Due Diligence Requirements for Financial Institutions

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Docket ID : FINCEN-2012-0001
Agency : Financial Crimes Enforcement Network (FINCEN)
Parent Agency : Department of the Treasury (TREAS)
Summary :
FinCEN issued an advance notice of proposed rulemaking to solicit public comment on a wide range of questions pertaining to the development of a customer due diligence (CDD) regulation that would clarify, consolidate, and strengthen existing CDD obligations for financial institutions and also incorporate the collection of beneficial ownership information into the CDD framework.
RIN : 1506-AB15
Impacts and Effects : None
CFR Citation : 31 CFR 1010.100(e)
Priority : Other Significant
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Publication Period: Fall 2012
Agenda Stage of Rulemaking: Proposed Rule
Major Rule: No
Legal Authorities: 12 USC 1829(b), 12 USC 1951 to 1959, 18 USC 1956, 18 USC 1957, 18 USC 1960, 31 USC 5311 to 5314e, 31 USC 5316 to 5332
Legal Deadlines: None
Government Levels Affected: No
Federalism Implications: No
Unfunded Mandates: No
Requires Regulatory Flexibility Analysis: No
Small Entities Affected: No
International Impacts: No
Energy Effects: No
Included in Regulatory Plan: No
Timetable
Action Date FR Citation
ANPRM 03/05/2012 77 FR 13046
ANPRM Comment Period End 06/11/2012
Public Meeting 07/31/2012 77 FR 41334
Public Meeting 09/28/2012 77 FR 41334
Public Meeting 10/05/2012 77 FR 41334
NPRM 03/00/2013
NPRM Comment Period End 05/00/2013
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Related RINs: None
Related Dockets: None
Type: Rulemaking
Organization: FINCEN
 
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93
Comments Received *
* The total reflects comments received from Regulations.gov and other means as of 11:59 PM yesterday. All comments received may not be posted at this time including bulk submissions; therefore, the total comments received and posted may differ.
Regulatory Timeline
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Proposed Rule
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Final Rule
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