[Code of Federal Regulations]
[Title 31, Volume 1]
[Revised as of July 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR103.56]

[Page 358-359]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
                      CHAPTER I--MONETARY OFFICES,
                       DEPARTMENT OF THE TREASURY
 
PART 103--FINANCIAL RECORDKEEPING AND REPORTING OF CURRENCY AND FOREIGN TRANSACTIONS--Table of Contents
 
                      Subpart E--General Provisions
 
Sec. 103.56  Enforcement.

    (a) Overall authority for enforcement and compliance, including 
coordination and direction of procedures and activities of all other 
agencies exercising delegated authority under this part, is delegated to 
the Assistant Secretary (Enforcement).
    (b) Authority to examine institutions to determine compliance with 
the requirements of this part is delegated as follows:
    (1) To the Comptroller of the Currency with respect to those 
financial institutions regularly examined for safety and soundness by 
national bank examiners;
    (2) To the Board of Governors of the Federal Reserve System with 
respect to those financial institutions regularly examined for safety 
and soundness by Federal Reserve bank examiners;
    (3) To the Federal Deposit Insurance Corporation with respect to 
those financial institutions regularly examined for safety and soundness 
by FDIC bank examiners;

[[Page 359]]

    (4) To the Federal Home Loan Bank Board with respect to those 
financial institutions regularly examined for safety and soundness by 
FHLBB bank examiners;
    (5) To the Chairman of the Board of the National Credit Union 
Administration with respect to those financial institutions regularly 
examined for safety and soundness by NCUA examiners.
    (6) To the Securities and Exchange Commission with respect to 
brokers or dealers in securities;
    (7) To the Commissioner of Customs with respect to Secs. 103.23 and 
103.58;
    (8) To the Commissioner of Internal Revenue with respect to all 
financial institutions, except brokers or dealers in securities, not 
currently examined by Federal bank supervisory agencies for soundness 
and safety.
    (c) Authority for investigating criminal violations of this part is 
delegated as follows:
    (1) To the Commissioner of Customs with respect to Sec. 103.23;
    (2) To the Commissioner of Internal Revenue except with respect to 
Sec. 103.23.
    (d) Authority for the imposition of civil penalties for violations 
of this part lies with the Assistant Secretary, and in the Assistant 
Secretary's absence, the Deputy Assistant Secretary (Law Enforcement).
    (e) Periodic reports shall be made to the Assistant Secretary by 
each agency to which compliance authority has been delegated under 
paragraph (b) of this section. These reports shall be in such a form and 
submitted at such intervals as the Assistant Secretary may direct. 
Evidence of specific violations of any of the requirements of this part 
may be submitted to the Assistant Secretary at any time.
    (f) The Assistant Secretary or his delegate, and any agency to which 
compliance has been delegated under paragraph (b) of this section, may 
examine any books, papers, records, or other data of domestic financial 
institutions relevant to the recordkeeping or reporting requirements of 
this part.

(Sec. 21, Federal Deposit Insurance Act, 84 Stat. 1114, 12 U.S.C. 1829b; 
84 Stat. 1116, 12 U.S.C. 1951-1959; and the Currency and Foreign 
Transactions Reporting Act, 84 Stat. 1118, 31 U.S.C. 1051-1122)

[37 FR 6912, Apr. 5, 1972, as amended at 50 FR 42693, Oct. 22, 1985; 52 
FR 11445, Apr. 8, 1987. Redesignated and amended at 64 FR 45451, 45453, 
Aug. 20, 1999]