Skip to Content

Proposed Rule

Foreign Assets Control Regulations; Reporting and Procedures Regulations; Cuban Assets Control Regulations: Publication of Revised Civil Penalties Hearing Regulations

Document Details

Information about this document as published in the Federal Register.

Published Document

This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.

Start Preamble Start Printed Page 53662

AGENCY:

Office of Foreign Assets Control, Treasury.

ACTION:

Notice of proposed rulemaking by cross-reference to interim final rule.

SUMMARY:

The Office of Foreign Assets Control (“OFAC”) of the U.S. Department of the Treasury (“Treasury”) is proposing to adopt as a final rule the interim final rule published elsewhere in this issue of the Federal Register that revises its civil penalties regulations promulgated pursuant to the Trading with the Enemy Act. These revisions consolidate substantive changes to the Foreign Assets Control Regulations, and the Cuban Assets Control Regulations, in a new subpart of the Reporting and Procedures Regulations, renamed Reporting, Procedures, and Penalties Regulations. Conforming changes are made to the other parts of the regulations.

DATES:

Written comments may be submitted on or before October 14, 2003.

ADDRESSES:

Comments may be submitted by mail, by facsimile, or through OFAC's Web site. Because paper mail in the Washington, DC area may be subject to delay, electronic mail submission is recommended.

Mailing address: Chief of Records, ATTN Request for Comments, Office of Foreign Assets Control, Department of the Treasury, 1500 Pennsylvania Avenue, NW., Washington, DC 20220.

Facsimile number: (202) 622-1657.

OFAC's Web site: <http://www.treas.gov/​ofac.html>.

Start Further Info

FOR FURTHER INFORMATION CONTACT:

Chief of Penalties, tel.: (202) 622-6140, or Chief Counsel, tel.: (202) 622-2410.

End Further Info End Preamble Start Supplemental Information

SUPPLEMENTARY INFORMATION:

I. The Proposed Rule

Published elsewhere in this separate part of the Federal Register is an interim final rule by which OFAC is revising its civil penalties regulations promulgated pursuant to the Trading with the Enemy Act. These revisions consolidate substantive changes to the Foreign Assets Control Regulations, 31 CFR part 500, and the Cuban Assets Control Regulations, 31 CFR part 515, in a new subpart of the Reporting and Procedures Regulations, 31 CFR part 501, renamed Reporting, Procedures, and Penalties Regulations. Conforming changes are made to the other parts of 31 CFR chapter V. The preamble to the interim final rule explains these provisions of the proposed rule in detail, and the text of the interim final rule serves as the text for this proposed rule.

II. Procedural Requirements

Because this interim final rule pertains to a foreign affairs function of the United States, it is not subject to Executive Order 12866.

Although we are issuing this notice of proposed rulemaking to obtain public comments on the interim final rule published elsewhere in this separate part of this issue of the Federal Register, notice and public procedure are not required for the reasons stated in the preamble to the interim final rule. Because no notice of proposed rulemaking is required, the provisions of the Regulatory Flexibility Act (5 U.S.C. chapter 6) do not apply.

The collections of information in the proposed rule arise during the conduct of administrative actions or investigations by OFAC against specific individuals or entities. Pursuant to 44 U.S.C. 3518(c)(1)(B)(ii), these collections are not subject to the requirements of the Paperwork Reduction Act.

Start List of Subjects

List of Subjects

End List of Subjects

Authority and Issuance

For the reasons set forth above, OFAC proposes to adopt as a final rule the interim final rule providing revisions to its civil penalties regulations promulgated pursuant to the Trading with the Enemy Act.

[The text of the proposed amendments is the same as the text of the interim final rule published elsewhere in this separate part of this issue of the Federal Register.]

Start Signature

Dated: August 29, 2003.

R. Richard Newcomb,

Director, Office of Foreign Assets Control.

Approved: August 29, 2003.

Juan Zarate,

Deputy Assistant Secretary (Terrorist Financing and Financial Crimes), Department of the Treasury.

End Signature End Supplemental Information

[FR Doc. 03-22969 Filed 9-5-03; 4:30 pm]

BILLING CODE 4810-25-P