FinCEN Issues Advance Notice of Proposed Rulemaking for No-Action Letter Process

June 07, 2022

The Financial Crimes Enforcement Network (FinCEN) has issued an advance notice of proposed rulemaking regarding a no-action letter process where an agency states by letter that it will not take an enforcement action against the submitting party for the specific conduct presented to the agency and has the potential to promote innovation and overall effectiveness of the AML/CFT framework and the implementation of financial institutions’ compliance programs.

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