FinCEN eyes contractors to help draft its own regulations

The Treasury Department’s Financial Crimes Enforcement Network is exploring whether it should bring in contractors to help draft regulatory documents.

FinCEN is responsible for collecting and analyzing information about financial transactions to combat domestic and international crimes like money laundering and terrorist financing, among others.

Work under the contract would include writing guidance, Federal Register notices, reports and other materials so the agency can comply with the 2020 Anti-Money Laundering Act and the 2025 Guiding and Establishing National Innovation for U.S. Stablecoins Act, the latter of which is also known as the Genius Act.

The potential contract would also cover research and analysis and process public comments on rulemakings, according to the Sam.gov notice posted Wednesday.

If FinCEN develops the contract, most of the work would take place at Treasury locations in Washington, D.C. and Vienna, Virginia. Any remote work would need to be approved in writing. The contractor also needs to have a Secret facility clearance in place.

Treasury is interested in hearing from large and small businesses as it develops the acquisition strategy. The contractor will work at the direction of FinCEN staff.

An appendix released as part of the notice breaks the requirements into five areas:

• Regulatory and policy development and drafting
• Regulatory and policy research and analysis
• Interagency consultation and stakeholder engagement support
• Federal Register materials and engagement
• Public comment processing and evaluation

The notice asks for a high-level capabilities statement that describes lines of business, relevant experience, and a technical narrative addressing each of the products and services listed in the appendix.

Responses to the request for information are due May 13.