Practice question, MSB registration
Show your current FinCEN registration, the date the next renewal is due under your own calendar, and the agent list you maintain as part of registration.
Taft practice question: not an official regulator question. FinCEN, United States (federal). For Money services businesses. Evidence category: Registration records.
Not legal advice. A practice prompt for rehearsing how your team explains its controls and evidence. No scoring, no model answer, no implication that a regulator will ask these words.
Authored by Taft. Last checked 2026-11-09. All questions.
Why it is relevant
The registration rule says each money services business, with stated exceptions, must register with FinCEN and must maintain a list of its agents as part of its registration.
Sources: [1] § 1022.380(a)(1)
Evidence to locate
Suggested, not mandatory. A regulator's actual request list governs.
No evidence cues listed.
Follow-up prompts
Which exception, if any, do you rely on, and where is that analysis written down?
Applicability
- Applies to
- Money services businesses as defined in 31 CFR 1010.100(ff). Whether a firm is an MSB is a perimeter question the firm answers with its advisers.
- Does not apply to
- Agents of another MSB are addressed separately in the rule.
Cite
Cite the official source first. Then: Taft Compliance Group, Exam-prep toolkit (draft), question q-msb-registration-agents, https://taftcompliance.com/resources/exam-prep-toolkit/questions/q-msb-registration-agents, last checked 2026-11-09.
Sources
Office of the Federal Register, eCFR, 31 CFR 1022.380 Registration of money services businesses. rule. § 1022.380(a)(1).
https://www.ecfr.gov/current/title-31/subtitle-B/chapter-X/part-1022/section-1022.380
Checked 2026-11-09.
Supporting passage
Except as provided in paragraph (a)(3) of this section, relating to agents, and except for sellers of prepaid access as defined in § 1010.100(ff)(7) of this chapter to the extent that they are not already agents, each money services business (whether or not licensed as a money services business by any State) must register with FinCEN. Each provider of prepaid access must identify each prepaid program for which it is the provider of prepaid access. Each money services business must, as part of its registration, maintain a list of its agents as required by 31 U.S.C. 5330 and this section.
Changes to this question
No released changes.