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FAQs from FinCEN Help Line? 314a Process

FAQs from FinCEN Help Line ? 314a Process

FinCEN?s Regulatory Helpline29 is available to financial institutions to provide guidance on various topics related to the BSA. In order to better assist with compliance questions, information is offered in this section concerning some of the most common FAQs posed to the Helpline relating to two current ?hot? topics, Section 314(a) issues and suspicious reporting for MSBs.

Section 314(a) of the USA PATRIOT Act

How do I change my point of contact for 314(a)?

Although FinCEN and the federal regulators are modernizing the process to update, change, add, or delete your financial institution?s point-of-contact (POC) information on FinCEN?s distribution list for receiving Section 314(a) Information Requests, currently you are required to contact your primary federal supervisory agency to make those changes. Financial institutions subject to supervision by one of the five Federal ?banking? regulators should also provide information for Section 314(a) POCs on the institution?s quarterly Call or Thrift Financial Report.

The following items must be provided to update or add your financial institution?s POC information: financial institution name and charter number or other identifier; POC name and title, mailing (street number, P.O. Box, city, state and zip code) and e-mail addresses; and telephone and facsimile numbers.

Please find your institution?s primary federal supervisory agency in the below list and forward the above information to them.

Board of Governors of the Federal Reserve System
Contact information:
e-mail: patriotact@frb.gov
fax: (202) 736-5641


Commodity Futures Trading Commission
Contact information:
e-mail: AMLstaff@cftc.gov
fax: (202) 418-5528
Questions: Helene D. Schroeder, Special Counsel,
Division of Clearing and Intermediary Oversight
(202) 418-5424

Federal Deposit Insurance Corporation
Contact information:
All changes must be made through the quarterly call report.
(800) 688-FDIC
e-mail: Insurance-Research@FDIC.gov

Office of the Comptroller of the Currency
Contact information:
e-mail: nationalbankinfo@occ.treas.gov
fax: (202) 874-5301

Office of Thrift Supervision
Contact information:
e-mail: usap.contact@ots.treas.gov
fax: (202) 906-6326

National Credit Union Administration
Contact information:
Please contact your designated NCUA examiner or state supervisory authority

National Association of Securities Dealers (NASD)
Contact information:
e-mail: antimoneylaundering@nasdr.com
Questions: Emily Gordy, Kyra Armstrong
(202) 728-8221

New York Stock Exchange (NYSE)
Contact Information:
e-mail: SKasprzak@NYSE.com
fax: (212) 656-2068
telephone: Stephen Kasprzak (212) 656-3000

How can I get a copy of the search instructions and FAQs for 314(a)?

Financial institutions that need a copy of the FAQs and instructions can request these documents by calling FinCEN?s Regulatory Helpline at (800) 949-2732 or by e-mail at sys314a@fincen.treas.gov. FinCEN will only send the instructions and FAQs to a financial institution?s designated POC that was provided to FinCEN by the financial institution?s regulator.

How can an institution tell if a 314(a) match is a true ?hit? that requires a positive response to FinCEN and not a false positive?

If an institution is unsure if a 314(a) match is a true hit, FinCEN suggests that the institution call the agent associated with the case. The case agent?s contact information is listed at the top of each information request.

Excerpted from SAR Activity Review Issue 6, page 59

First published on 11/01/2003

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