[Federal Register Volume 69, Number 189 (Thursday, September 30, 2004)]
[Proposed Rules]
[Page 58374]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-21879]


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DEPARTMENT OF THE TREASURY

31 CFR Part 103

RIN 1506-AA65


Financial Crimes Enforcement Network; Amendment to the Bank 
Secrecy Act Regulations--Imposition of Special Measure Against First 
Merchant Bank OSH Ltd, Including Its Subsidiaries, FMB Finance Ltd, 
First Merchant International Inc, First Merchant Finance Ltd, and First 
Merchant Trust Ltd, as a Financial Institution of Primary Money 
Laundering Concern

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

ACTION: Proposed rule; reopening of comment period.

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SUMMARY: On August 24, 2004, FinCEN requested public comment on a 
proposed rulemaking to impose a special measure against First Merchant 
Bank OSH Ltd as a financial institution of primary money laundering 
concern, pursuant to the authority contained in 31 U.S.C. 5318A of the 
Bank Secrecy Act. FinCEN is extending the comment period on the 
proposal until November 1, 2004. This action will allow interested 
persons additional time to analyze the issues and prepare their 
comments.

DATES: Written comments on the notice of proposed rulemaking (69 FR 
51979) must be submitted on or before November 1, 2004.

ADDRESSES: You may submit comments, identified by RIN 1506-AA65, by any 
of the following methods:
     Federal e-rulemaking portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     E-mail: [email protected]. Include RIN 1506-
AA65 in the subject line of the message.
     Mail: FinCEN, P.O. Box 39, Vienna, VA 22183. Include RIN 
1506-AA65 in the body of the text.
    Instructions: It is preferable for comments to be submitted by 
electronic mail because paper mail in the Washington, DC, area may be 
delayed. Please submit comments by one method only. All submissions 
received must include the agency name and the Regulatory Information 
Number (RIN) for this proposed rulemaking. All comments received will 
be posted without change to http://www.fincen.gov, including any 
personal information provided. Comments may be inspected at FinCEN 
between 10 a.m. and 4 p.m., in the FinCEN reading room in Washington, 
DC. Persons wishing to inspect the comments submitted must request an 
appointment by telephoning (202) 354-6400 (not a toll-free number).

FOR FURTHER INFORMATION CONTACT: Office of Regulatory Programs, FinCEN, 
at (202) 354-6400 or Office of Chief Counsel, FinCEN, at (703) 905-3590 
(not toll-free numbers).

SUPPLEMENTARY INFORMATION: On August 24, 2004, FinCEN requested comment 
on a proposal to impose the special measure authorized by 31 U.S.C. 
5318A(b)(5) against First Merchant Bank OSH Ltd, including its 
subsidiaries, FMB Finance Ltd, First Merchant International Inc, First 
Merchant Finance Ltd, and First Merchant Trust Ltd. That special 
measure authorizes the prohibition of the opening or maintaining of 
correspondent or payable-through accounts by any domestic financial 
institution or domestic financial agency for, or on behalf of, a 
foreign financial institution found to be of primary money laundering 
concern.
    The proposal was published for a 30-day comment period, which 
closed September 23, 2004. In order to ensure that as many interested 
parties as possible have time to comment on the proposal, the comment 
period is being extended to November 1, 2004.

    Dated: September 23, 2004.
William J. Fox,
Director, Financial Crimes Enforcement Network.
[FR Doc. 04-21879 Filed 9-29-04; 8:45 am]
BILLING CODE 4810-02-P