Sec. 6. Requirements for filing suspicious activity reports
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Section 5318(g) of title 31, United States Code, is amended— by redesignating paragraph
(11)as paragraph (12); and by inserting after paragraph
(10)the following With respect to a financial institution, or any director, officer, employee, or agent of a financial institution, that reports a suspicious transaction pursuant to this subsection, if the reason for the report relates to a State-sanctioned marijuana business or service provider, the report shall comply with appropriate guidance issued by the Secretary of the Treasury. Not later than the end of the 180-day period beginning on the date of enactment of the Secure And Fair Enforcement Regulation Banking Act , the Secretary shall amend the February 14, 2014, guidance titled BSA Expectations Regarding Marijuana-Related Businesses (FIN–2014–G001) or issue new guidance to ensure consistency with the purpose and intent of the Secure And Fair Enforcement Regulation Banking Act , and the amendments made by that Act, and that such guidance ensures that a financial institution, and any director, officer, employee, or agent of a financial institution, continues to report suspicious transactions pursuant to this subsection, as applicable, relating to State-sanctioned marijuana businesses and service providers to preserve the ability of the Financial Crimes Enforcement Network to prevent and combat illicit activity. In this paragraph: The terms financial service , service provider , State , and State-sanctioned marijuana business have the meanings given the terms in section 2 of the SAFER Banking Act . The term Indian country has the meaning given the term in section 1151 of title 18. The term Indian Tribe has the meaning given the term Indian tribe in section 102 of the Federally Recognized Indian Tribe List Act of 1994 (25 U.S.C. 5130). The term marijuana has the meaning given the term marihuana in section 102 of the Controlled Substances Act (21 U.S.C. 802). .
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