GroundRules
31 CFR 566.309: Foreign financial institution.
Where this section sits in the code
- Title 31—Money and Finance: Treasury
- Subtitle B—Regulations Relating to Money and Finance
- CHAPTER V—OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY
- PART 566—HIZBALLAH FINANCIAL SANCTIONS REGULATIONS
- Subpart C—General Definitions
(a) The term foreign financial institution means:
(1) A foreign bank;
(2) Any branch or office located outside the United States of a covered financial institution, as defined in § 566.303;
(3) Any other person organized under foreign law (other than a branch or office of such person in the United States) that, if it were located in the United States, would be a covered financial institution, as defined in § 566.303; and
(4) Any person organized under foreign law (other than a branch or office of such person in the United States) that is engaged in the business of, and is readily identifiable as, a dealer in foreign exchange or a money transmitter.
(b) For purposes of paragraph (a)(4) of this section, a person is not “engaged in the business” of a dealer in foreign exchange or a money transmitter if such transactions are merely incidental to the person's business.
Collected 2026-08-27T02:25:25Z. Source file · JSON