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#24882 - 07/23/02 01:53 PM BSA - SAR Reporting
SPF36 Offline
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SPF36
Joined: Jul 2002
Posts: 20
When filing a SAR, is it a requirement to report the SAR to the board of directors? If so (which I believe it is)where can I find it in the regulation to do so?

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#24883 - 07/23/02 02:21 PM Re: BSA - SAR Reporting
Andy_Z Offline
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Andy_Z
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It can be the board or a committee designated for such purposes.

§21.11(h) Notification to board of directors -- (1) Whenever a national bank files a SAR pursuant to this section, the management of the bank shall promptly notify its board of directors, or a committee of directors or executive officers designated by the board of directors to receive notice.
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#24884 - 07/23/02 06:04 PM Re: BSA - SAR Reporting
John Burnett Offline
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John Burnett
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For banks not regulated by the OCC, there are equivalent regulations. For state member banks, look in 12 CFR 208 (Regulation H) at §208.62(h). State non member banks, look in FDIC rules at 12 CFR 353.3(f).
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#24885 - 07/23/02 06:08 PM Re: BSA - SAR Reporting
SPF36 Offline
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SPF36
Joined: Jul 2002
Posts: 20
Thank you, I found it in the FDIC regulations!

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