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33702 Federal Register / Vol 33702 Federal Register / Vol. 70, No. 110 / Thursday, June 9, 2005 / Rules and Regulations implications. No rights, property or Similarly, failure to immediately I 4. In newly redesignated § 39.1202(c), compensation has been, or will be make the redesignations in this rule the words ‘‘as set forth in § 39.19’’ are taken. A takings implication assessment would result in a serious disruption of removed. is not required. the Bureau of Indian Affairs’ ability to [FR Doc. 05–11445 Filed 6–8–05; 8:45 am] 6. Federalism (E.O. 13132). In provide necessary educational services, BILLING CODE 4310–02–M accordane with Executive Order 13132, with accompanying confusion to this rule does not have federalism employees and the public. This implications that warrant the disruption and confusion would be DEPARTMENT OF THE TREASURY preparation of a federalism assessment. contrary to public and tribal interests. 7. Civil Justice Reform (E.O. 12988). In For these reasons, the Department has 31 CFR Part 103 accordance with Executive Order 12988, determined it appropriate to waive the RIN 1506–AA58 the Office of the Solicitor has requirement of publication 30 days in determined that this rule does not advance of the effective date. As Financial Crimes Enforcement unduly burden the judicial system and allowed by 5 U.S.C. 553(d)(3), this rule Network; Anti-Money Laundering meets the requirements of sections 3(a) is effective immediately because it is in Programs for Dealers in Precious and 3(b)(2) of the Order. the public interest not to delay Metals, Stones, or Jewels 8. Consultation with Indian tribes implementation of this amendment. (E.O. 13175). In accordance with AGENCY: Financial Crimes Enforcement Executive Order 13175, we have List of Subjects in 25 CFR Part 39 Network (‘‘FinCEN’’), Treasury. evaluated this rule and determined that ACTION: Interim final rule; request for Indians—education, Schools, it has no potential negative effects on comments. federally recognized Indian tribes. In Elementary and secondary education drafting the No Child Left Behind rule programs, Government programs— SUMMARY: FinCEN is issuing this interim published today, we consulted education. final rule to prescribe minimum extensively with tribes; tribal members Dated: May 23, 2005. standards applicable to dealers in of the negotiated rulemaking committee Michael D. Olsen, jewels, precious metals, or precious participated in the writing of the rule. stones, pursuant to the provisions in the Acting Principal Deputy Assistant Secretary— USA PATRIOT Act of 2001 that require These conforming amendments make Indian Affairs. only changes necessary to ensure that financial institutions to establish anti- the remainder of 25 CFR is consistent I For the reasons given in the preamble, money laundering programs. This rule with the provisions of the No Child Left part 39 of title 25 of the Code of Federal is being issued as an interim final rule Behind rule. Regulations is amended as set forth because FinCEN is seeking additional 9. Paperwork Reduction Act. This below. public comment on several aspects of regulation does not require an the interim final rule. These issues are information collection from 10 or more PART 39—THE INDIAN SCHOOL addressed in the SUPPLEMENTARY parties and a submission under the EQUALIZATION PROGRAM INFORMATION section under the heading Paperwork Reduction Act is not ‘‘Request for Comments.’’ We also are required. An OMB form 83–I is not I 1. The authority for part 39 continues providing questions and answers to required. to read as follows: assist businesses in understanding how 10. National Environmental Policy Authority: 25 U.S.C. 13; 25 U.S.C. 2008; the interim final rule operates, and in Act. This rule does not constitute a Pub. L. 107–110. determining whether and when a major Federal action significantly business’s operations are covered by the affecting the quality of the human I 2. In Subparts I through L, §§ 39.110 interim final rule. These questions and environment. through 39.143 are redesignated as answers appear in the SUPPLEMENTARY 11. Justification for Issuing a Direct shown in the following table: INFORMATION section under the heading Final Rule. The Department has ‘‘Frequently Asked Questions.’’ determined that the public notice and Redesignated DATES: Current section number section number Effective Date: This interim final comment provisions of the rule is effective July 11, 2005. Administrative Procedure Act, 5 U.S.C. 39.110 ................................. 39.900 Applicability Date: The requirement 553(b), do not apply to this rule because 39.111 ................................. 39.901 that dealers develop and implement an of the good cause exception under 5 39.112 ................................. 39.902 anti-money laundering program applies U.S.C. 553(b)(3)(B). This exception 39.113 ................................. 39.903 as provided in 31 CFR 103.140(d). allows the agency to suspend the notice 39.114 ................................. 39.904 Submission of Comments: Comments and public procedure requirements 39.120 ................................. 39.1000 on the issues raised in the ‘‘Request for when the agency finds for good cause 39.121 ................................. 39.1001 Comments’’ portion of this document that those requirements are 39.122 ................................. 39.1002 must be received before July 25, 2005. impracticable, unnecessary, or contrary 39.123 ................................. 39.1003 ADDRESSES: You may submit comments, to the public interest. This rule 39.130 ................................. 39.1100 identified by RIN 1506–AA58, by any of renumbers (redesignates) certain 39.131 ................................. 39.1101 the following methods: sections of 25 CFR part 39 in order to 39.140 ................................. 39.1200 • Federal e-rulemaking Portal: http:// conform to the amendments published 39.141 ................................. 39.1201 www.regulations.gov. Follow the on April 28, it makes no substantive 39.142 ................................. 39.1202 instructions for submitting comments. changes. Failure to immediately make 39.143 ................................. 39.1203 • E-mail: these redesignations would lead to [email protected]. Include confusion and cause errors in vital § 39.1100 [Amended] RIN 1506–AA58 in the subject line of educational programs. For these the message. reasons, public comments are I 3. In newly redesignated § 39.1100, in • Mail: FinCEN, P.O. Box 39, Vienna, unnecessary and would be the last sentence, the words ‘‘detailed in VA 22183. Include RIN 1506–AA58 in impracticable. § 39.19’’ are removed. the body of the text. VerDate jul<14>2003 14:57 Jun 08, 2005 Jkt 205001 PO 00000 Frm 00014 Fmt 4700 Sfmt 4700 E:\FR\FM\09JNR1.SGM 09JNR1 Federal Register / Vol. 70, No. 110 / Thursday, June 9, 2005 / Rules and Regulations 33703 Instructions: It is preferable for designation of a compliance officer;’’ accepting third-party payments, and the comments to be submitted by electronic ‘‘an ongoing employee training importance of conducting reasonable mail because paper mail in the program;’’ and ‘‘an independent audit inquiries when a customer’s requests Washington, DC, area may be delayed. function to test programs.’’ 31 U.S.C. seem unusual. Please submit comments by one method 5318(h)(1)(A–D). Although the following two examples only. All submissions received must On October 26, 2001, the President involve dealers who were acting in include the agency name and the signed into law the USA Patriot Act. complicity with the illegal activity of Regulatory Information Number (RIN) Section 352 of the USA Patriot Act, their customers, they demonstrate for this rulemaking. All comments which became effective April 24, 2002, money laundering methodologies that received will be posted without change amended 31 U.S.C. 5318(h) of the BSA also could be conducted through to http://www.fincen.gov, including any to require, and not merely authorize, unwary dealers. First, a Federal grand personal information provided. anti-money laundering programs for all jury indictment illustrates the money Comments may be inspected at FinCEN financial institutions defined in the laundering risks associated with the use between 10 a.m. and 4 p.m., in the BSA. Section 352(c) of the USA Patriot of third-party payments.3 A jewelry FinCEN reading room in Washington, Act directs the Secretary to prescribe wholesaler pled guilty to laundering DC. Persons wishing to inspect the regulations for anti-money laundering money by accepting third-party comments submitted must request an programs that are ‘‘commensurate with payments in drug proceeds for appointment by telephoning (202) 354– the size, location, and activities’’ of the merchandise purchased by its retailer 6400 (not a toll-free number). financial institutions to which such clients. A review of the wholesaler’s FOR FURTHER INFORMATION CONTACT: regulations apply. records revealed several unusual Regulatory Policy and Programs Although a dealer in ‘‘precious patterns, including: • Division (FinCEN), (800) 949–2732 (toll- metals, stones, or jewels’’ (‘‘dealer’’) has Many instances in which the free). long been listed as a financial wholesaler received payment for SUPPLEMENTARY INFORMATION: institution under the BSA, 31 U.S.C. merchandise from a party other than the 5312(a)(2)(N), FinCEN has not purchaser (third-party payments); and I. Background previously defined the term or issued • Numerous examples of unusual check activity including
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