FinCEN Completes Assessment on the Use of No-Action Letters

June 30, 2021

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The Financial Crimes Enforcement Network (FinCEN) has completed a report on its assessment of whether to establish a process for the issuance of no-action letters in response to inquiries concerning the application of the Bank Secrecy Act (BSA) and other anti-money laundering and countering the financing of terrorism laws to specific conduct and has concluded that a no-action letter process would be a useful complement to its current forms of regulatory guidance and relief.

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