WASHINGTON—Nominations are open for financial institutions, trade associations, and non-federal regulators or law enforcement agencies that are interested in becoming members of FinCEN’s Bank Secrecy Act Advisory Group (BSAAG).
Among other things, the agency is currently working to implement its final beneficial ownership information (BOI) rule and is seeking nominations from entities that can provide valuable insights to enhance efforts.
The agency noted that membership is open to organizations, rather than individuals, but each selected member must select one person to represent the member at meetings, NAFCU noted.
FinCEN requests that member representatives be “knowledgeable about Bank Secrecy Act requirements and be willing and able to devote the necessary time and effort on behalf of the representative's organization.” Credit unions can nominate themselves; each selected member will serve a three-year term and must select one person to represent the member at meetings.
Nominations must be received by FinCEN by March 15.
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