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Post by bot on Nov 13, 2013 22:15:09 GMT -5
FinCEN Issues Two Administrative Rulings Related to the Definition of an MSB The Financial Crimes Enforcement Network (FinCEN) has issued two administrative rulings related to the definition of a money services business (MSB). The rulings have been posted to FinCEN’s Web site at www.fincen.gov. • FinCEN Ruling on Application of the Prepaid Access Rule to Closed Loop Prepaid Access Sold or Exchanged in a Secondary Market -- www.fincen.gov/news_room/rp/rulings/html/FIN-2013-R003.html • FinCEN Ruling on Whether a Company that Offers a Payment Mechanism Based on Payable-Through Drafts to its Commercial Customers is a Money Transmitter -- www.fincen.gov/news_room/rp/rulings/html/FIN-2013-R002.html ###
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