First off, who doesn't love the letter X? C'mon, it's true. What popped into my head today as I read FinCEN's announcement on simplifying the structure of its rules and regulations? Racer X! No, not the 80's band, but Rex Racer himself! That guy's posture, not to mention his mystique, is something to adore.
Anyway...back to national security...(Racer X is clearly a candidate for SAR filings, non?)...check out the link I just provided you and you will see that, thanks to the motivated bunch over at FinCEN, we will soon be able to use the handy--and if this term doesn't call to mind Sparky's mechanical prowess, you are not on my page--"Chapter X Citation Translator" to figure out the new rule numbers (and to revise your AML written programs). Yes, more new rule numbers. As if we haven't had enough of those lately.
Implementation date: March 1, 2011. So, Speed, push that calendar accelerator button and mark this date (with an X?) as a reminder.
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