多宝游戏下载 Board Approves Proposed Rule to Amend Suspicious Activity Report Requirements
For Release
WASHINGTON 鈥 The Board of Directors of the Federal Deposit Insurance Corporation (多宝游戏下载) today approved a notice of proposed rulemaking that would amend the agency鈥檚 Suspicious Activity Report (SAR) regulation. The proposed regulation would permit the 多宝游戏下载 to issue additional, case-by-case, exemptions from SAR filing requirements to 多宝游戏下载-supervised institutions.
The 多宝游戏下载鈥檚 current SAR regulation allows exemptions for physical crimes (robberies and burglaries) and lost, missing, counterfeit, or stolen securities. The proposed regulation approved today would make it possible for the 多宝游戏下载 to grant exemptions, in conjunction with the Financial Crimes Enforcement Network (FinCEN), to 多宝游戏下载-supervised institutions that develop innovative solutions to meet Bank Secrecy Act requirements more efficiently and effectively.
The 多宝游戏下载 expects the amendments to the SAR regulation will reduce regulatory burden on financial institutions and encourage technological innovation in the banking sector. Comments on the proposed rule will be accepted for 30 days after publication in the Federal Register .