|Monday, 23 May 2011 19:48|
Last month, the U.S Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) proposed regulations to implement new reporting requirements by U.S. financial institutions pursuant to the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (CISADA).
The proposed regulations would work in tandem with other financial provisions of CISADA to isolate financial institutions designated by the U.S. Government in connection with Iran's proliferation of weapons of mass destruction (WMD) or delivery systems for WMD, or in connection with its support for international terrorism.
This is a reminder that written comments are due on or before June 1, 2011.
The May 2, 2011 Federal Register notice is available here.