[Federal Register Volume 75, Number 137 (Monday, July 19, 2010)]
[Proposed Rules]
[Pages 41788-41789]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-17505]


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DEPARTMENT OF THE TREASURY

Financial Crimes Enforcement Network

31 CFR Part 103

RIN 1506-AB07


Amendment to the Bank Secrecy Act Regulations--Definitions and 
Other Regulations Relating to Prepaid Access

AGENCY: Financial Crimes Enforcement Network (``FinCEN''), Treasury.

ACTION: Notice of proposed rulemaking; extension of comment period.

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SUMMARY: FinCEN is extending the comment period for the referenced 
notice of proposed rulemaking, published June 28, 2010, for an 
additional thirty (30) days. The original comment period would have 
expired on July 28, 2010. The new extended comment period will expire 
on August 27, 2010.

DATES: The comment period for the proposed rule published June 28, 
2010, at 75 FR 36589 is extended. Comments must be submitted on or 
before August 27, 2010.

ADDRESSES: You may submit comments, identified by RIN 1506-AB07, by any 
of the following methods:
     Federal E-Rulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments. Refer to Docket number 
TREAS-FinCEN-2009-0007.
     Mail: FinCEN, P.O. Box 39, Vienna, VA 22183. Include RIN 
1506-AB07 in the body of the text.

[[Page 41789]]

    Inspection of Comments: Public comments received electronically or 
through the U.S. Postal Service sent in response to a ``Notice and 
Request for Comment'' will be made available for public review as soon 
as possible on http://www.regulations.gov. Comments received may be 
physically inspected in the FinCEN reading room located in Vienna, 
Virginia. Reading room appointments are available weekdays (excluding 
holidays) between 10 a.m. and 3 p.m., by calling the Disclosure Officer 
at (703) 905-5034 (not a toll free call).

FOR FURTHER INFORMATION CONTACT: Regulatory Policy and Programs 
Division, FinCEN on (800) 949-2732 and select option 1.

SUPPLEMENTARY INFORMATION: FinCEN issued a notice of proposed 
rulemaking (75 FR 36589) on June 28, 2010 proposing to revise the Bank 
Secrecy Act (``BSA'') regulations applicable to Money Services 
Businesses with regard to stored value or prepaid access. More 
specifically, the proposed changes include the following: renaming 
``stored value'' as ``prepaid access'' and defining that term; deleting 
the terms ``issuer and redeemer'' of stored value; imposing suspicious 
activity reporting, customer information and transaction information 
recordkeeping requirements on both providers and sellers of prepaid 
access and, additionally, imposing a registration requirement on 
providers only; and exempting certain categories of prepaid access 
products and services posing lower risks of money laundering and 
terrorist financing from certain requirements.
    We have received a number of comments to date, including a request 
to extend the deadline for comments in order to allow interested 
parties more time in which to comment on the proposals in the notice.
    In light of the fact that an extension of time will not impede any 
imminent rulemaking and will allow additional interested parties to 
respond to the issues raised in the advance notice, we have determined 
that it is appropriate to extend the comment period until August 27, 
2010.

    Dated: July 13, 2010.
Charles M. Steele,
Deputy Director, Financial Crimes Enforcement Network.
[FR Doc. 2010-17505 Filed 7-16-10; 8:45 am]
BILLING CODE 4810-02-P