[Federal Register Volume 60, Number 125 (Thursday, June 29, 1995)]
[Rules and Regulations]
[Page 33725]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-15910]
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DEPARTMENT OF THE TREASURY
31 CFR Part 103
Amendments to the Bank Secrecy Act Regulations Regarding
Reporting and Recordkeeping Requirements by Casinos; Correction
AGENCY: Financial Crimes Enforcement Network, Treasury.
ACTION: Correcting amendments.
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SUMMARY: This document contains corrections to regulations related to
the Bank Secrecy Act reporting and recordkeeping requirements for
casinos.
EFFECTIVE DATE: June 29, 1995.
FOR FURTHER INFORMATION CONTACT: Leonard C. Senia, Compliance
Specialist, Office of Regulatory Policy and Enforcement, Financial
Crimes Enforcement Network, (703) 905-3931.
SUPPLEMENTARY INFORMATION:
Background
The final regulations that are the subject of these corrections
affect casinos which are designated generally as ``financial
institutions'' for purposes of the Bank Secrecy Act see, e.g., 31 CFR
103.11(i)(7). Under the Bank Secrecy Act's implementing regulations,
these casinos are subject to particular reporting and recordkeeping
requirements, see, e.g., 31 CFR 103.22(a)(2), 103.36 and 103.54.
Need for Correction
As published, the final regulations contain errors which may prove
to be misleading and are in need of clarification. The first correction
removes a misleading effective date and the second correction is for a
misspelling.
List of Subjects in 31 CFR Part 103
Authority delegations (Government agencies), Banks and banking,
Currency, Foreign banking, Investigations, Law enforcement, Reporting
and recordkeeping requirements, Taxes.
Accordingly, 31 CFR part 103 is corrected by making the following
correcting amendments:
PART 103--FINANCIAL RECORDKEEPING AND REPORTING OF CURRENCY AND
FOREIGN TRANSACTIONS
1. The authority citation for part 103 continues to read as
follows:
Authority: Pub. L. No. 91-508, title I, 84 Stat. 1114 (12 U.S.C.
1829b, 1951-1959); 31 U.S.C. 5311-5330.
Sec. 103.54 [Corrected]
2. In Sec. 103.54, paragraph (a)(1), is revised to read as follows:
Sec. 103.54 Special rules for casinos.
(a) * * *
(1) Each casino shall develop and implement a written program
reasonably designed to assure and monitor compliance with the
requirements set forth in 31 U.S.C. chapter 53, subchapter II and the
regulations contained in this part.
* * * * *
3. In Sec. 103.54(a)(2)(v)(B), remove ``usual'' and add in its
place ``unusual''.
Dated: June 23, 1995.
Stanley E. Morris,
Director, Financial Crimes Enforcement Network.
[FR Doc. 95-15910 Filed 6-28-95; 8:45 am]
BILLING CODE 4820-03-P
