31 CFR 1010.810 Enforcement; delegation of examination authority (IRS examines non-bank MSBs)
Document text
Research, not advice. Part of the Bitcoin research archive (October 2026). Claims labelled unverified, contested or fringe are reported, not endorsed; statuses of bills and rules are as of the date checked. Government, court and patent records are public domain; the research notes are CC BY 4.0.
§ 1010.717 31 CFR Ch. X (7–1–25 Edition)
§ 1010.717 Disclosing information. safety and soundness by FHLBB bank
examiners;
(a) Any part of any administrative
ruling, including names, addresses, or (5) To the Chairman of the Board of
information related to the business the National Credit Union Administra-
transactions of private parties, may be tion with respect to those financial in-
disclosed pursuant to a request under stitutions regularly examined for safe-
the Freedom of Information Act, 5 ty and soundness by NCUA examiners.
U.S.C. 552. If the request for an admin- (6) To the Securities and Exchange
istrative ruling contains information Commission with respect to brokers
which the requestor wishes to be con- and dealers in securities and invest-
sidered for exemption from disclosure ment companies as that term is defined
under the Freedom of Information Act, in the Investment Company Act of 1940
the requestor should clearly identify (15 U.S.C. 80–1 et seq.);
such portions of the request and the (7) To the Commissioner of Customs
reasons why such information should and Border Protection with respect to
be exempt from disclosure. §§ 1010.340 and 1010.830;
(b) A requestor claiming an exemp- (8) To the Commissioner of Internal
tion from disclosure will be notified, at Revenue with respect to all financial
least 10 days before the administrative institutions, except brokers or dealers
ruling is issued, of a decision not to ex- in securities, mutual funds, futures
empt any of such information from dis- commission merchants, introducing
closure so that the underlying request brokers in commodities, and com-
for an administrative ruling can be modity trading advisors, not currently
withdrawn if the requestor so chooses. examined by Federal bank supervisory
agencies for soundness and safety; and
Subpart H—Enforcement; (9) To the Commodity Futures Trad-
Penalties; and Forfeiture ing Commission with respect to futures
commission merchants, introducing
§ 1010.810 Enforcement. brokers in commodities, and com-
modity trading advisors.
(a) Overall authority for enforcement
and compliance, including coordination (10) To the Federal Housing Finance
and direction of procedures and activi- Agency with respect to the housing
ties of all other agencies exercising government sponsored enterprises, as
delegated authority under this chapter, defined in § 1010.100(mmm) of this part.
is delegated to the Director, FinCEN. (c) Authority for investigating crimi-
(b) Authority to examine institutions nal violations of this chapter is dele-
to determine compliance with the re- gated as follows:
quirements of this chapter is delegated (1) To the Commissioner of Customs
as follows: and Border Protection with respect to
(1) To the Comptroller of the Cur- § 1010.340;
rency with respect to those financial (2) To the Commissioner of Internal
institutions regularly examined for Revenue except with respect to
safety and soundness by national bank § 1010.340.
examiners; (d) Authority for the imposition of
(2) To the Board of Governors of the civil penalties for violations of this
Federal Reserve System with respect chapter lies with the Director of
to those financial institutions regu- FinCEN.
larly examined for safety and sound- (e) Periodic reports shall be made to
ness by Federal Reserve bank exam- the Director, FinCEN by each agency
iners; to which compliance authority has
(3) To the Federal Deposit Insurance been delegated under paragraph (b) of
Corporation with respect to those fi- this section. These reports shall be in
nancial institutions regularly exam- such a form and submitted at such in-
ined for safety and soundness by FDIC tervals as the Director, FinCEN may
bank examiners; direct. Evidence of specific violations
skersey on DSK4WB1RN3PROD with CFR
(4) To the Federal Home Loan Bank of any of the requirements of this chap-
Board with respect to those financial ter may be submitted to the Director,
institutions regularly examined for FinCEN at any time.
1174
VerDate Sep<11>2014 07:58 Sep 25, 2025 Jkt 265133 PO 00000 Frm 01184 Fmt 8010 Sfmt 8010 Y:\SGML\265133.XXX 265133
Financial Crimes Enforc. Network, Treas. § 1010.821
(f) The Director, FinCEN or his dele- § 1010.820 [Reserved]
gate, and any agency to which compli-
ance has been delegated under para- § 1010.821 Penalty adjustment and
graph (b) of this section, may examine table.
any books, papers, records, or other (a) Inflation adjustments. In accord-
data of domestic financial institutions ance with the Federal Civil Penalties
relevant to the recordkeeping or re-
Inflation Adjustment Act of 1990, 28
porting requirements of this chapter.
(g) The authority to enforce the pro- U.S.C. 2461 note, (‘‘FCPIA Act’’), as fur-
visions of 31 U.S.C. 5314 and §§ 1010.350 ther amended by the Federal Civil Pen-
and 1010.420 of this chapter has been re- alties Inflation Adjustment Act Im-
delegated from FinCEN to the Commis- provements Act of 2015, FinCEN has set
sioner of Internal Revenue by means of forth in paragraph (b) of this section
a Memorandum of Agreement between adjusted maximum penalty amounts
FinCEN and IRS. Such authority in- for each civil monetary penalty pro-
cludes, with respect to 31 U.S.C. 5314 vided by law within its jurisdiction
and 1010.350 and 1010.420 of this chapter, that is subject to the FCPIA Act. The
the authority to: assess and collect adjusted civil monetary penalty
civil penalties under 31 U.S.C. 5321 and amounts replace the amounts pub-
31 CFR 1010.820; investigate possible lished in the statutes authorizing the
civil violations of these provisions (in assessment of penalties.
addition to the authority already pro- (b) Maximum civil monetary penalties.
vided at paragraph (c)(2)) of this sec- The statutory penalty provisions and
tion); employ the summons power of their adjusted maximum amounts or
subpart I of this part 1010; issue admin-
range of minimum and maximum
istrative rulings under subpart G of
this part 1010; and take any other ac- amounts are set out in Table 1. The
tion reasonably necessary for the en- last column in the table provides the
forcement of these and related provi- newly effective maximum penalty
sions, including pursuit of injunctions. amounts or range of minimum and
maximum amounts. These maximum
[75 FR 65812, Oct. 26, 2010, as amended at 79
penalty amounts do not, however, limit
FR 103755, Feb. 25, 2014]
the total amount of a penalty in the
EFFECTIVE DATE NOTE: At 89 FR 72275, case of a penalty that may be imposed
Sept. 4, 2024, § 1010.810 was amended, effective
Jan. 1, 2026.
for each day a violation continues.
TABLE 1 TO § 1010.821—PENALTY ADJUSTMENT TABLE
Maximum penalty
amounts or range of
Penalties as last minimum and maximum
U.S. Code citation Civil monetary penalty description amended by statute penalty amounts for
penalties assessed on or
after January 17, 2025
12 U.S.C. 1829b(j) .. Relating to Recordkeeping Violations for $10,000 $26,262
Funds Transfers.
12 U.S.C. 1955 ........ Willful or Grossly Negligent Record- 10,000 26,262
keeping Violations.
31 U.S.C. Failure to Terminate Correspondent Re- 10,000 17,765
5318(k)(3)(C). lationship with Foreign Bank.
31 U.S.C. 5321(a)(1) General Civil Penalty Provision for Willful 25,000 71,545
Violations of Bank Secrecy Act Re- ¥100,000 ¥286,184
quirements.
31 U.S.C. Foreign Financial Agency Transaction— 10,000 16,536
5321(a)(5)(B)(i). Non-Willful Violation of Transaction.
31 U.S.C. Foreign Financial Agency Transaction— 100,000 165,353
5321(a)(5)(C)(i)(I). Willful Violation of Transaction.
31 U.S.C. Negligent Violation by Financial Institu- 500 1,430
5321(a)(6)(A). tion or Non-Financial Trade or Busi-
ness.
31 U.S.C. Pattern of Negligent Activity by Financial 50,000 111,308
skersey on DSK4WB1RN3PROD with CFR
5321(a)(6)(B). Institution or Non-Financial Trade or
Business.
1175
VerDate Sep<11>2014 07:58 Sep 25, 2025 Jkt 265133 PO 00000 Frm 01185 Fmt 8010 Sfmt 8010 Y:\SGML\265133.XXX 265133