,i  #aaith ,,congress  #ast ,session    
,h4 ,r4 #adg  ,,in ,,the ,,house ,,of   
,,representatives  ,january #c1         
#bjbe,mr4 ,davidson introduced the      
following bill2 which was referred to   
the ,committee on ,financial ,services  
,a ,,bill  ,to make improvements to the 
,financial ,crimes ,enforcement         
,network1 and for other purposes4  #a4  
,short title2 table of contents  7a7    
,short title ,this ,act may be cited as 
the ,fin,c,e,n ,oversight and           
,accountability ,act of #bjbe4  7b7     
,table of contents ,the table of        
contents for this ,act is as follows3   
,sec4 #a4 ,short title2 table of        
contents4,title ,i--,congressional      
,oversight,sec4 #aja4 ,information for  
constitutional functions of             
,congress4,title ,,ii--,fin,c,e,n       
,accountability,sec4 #bja4 ,transparency
 with controlling documents4,sec4 #bjb4 
,testimony by the ,director of          
,fin,c,e,n4,title ,,iii--,small         
,business ,working ,group,sec4 #cja4    

,small ,business ,working ,groups4  ,i  
,congressional ,oversight  #aja4        
,information for constitutional         
functions of ,congress  7a7 ,keeping    
,congress informed ,the ,secretary of   
the ,treasury shall keep the ,committee 
on ,financial ,services of the ,house of
 ,representatives and the ,committee on 
,banking1 ,housing1 and ,urban ,affairs 
of the ,senate fully and currently      
informed of the activities of the       
,financial ,crimes ,enforcement         
,network1 including any significant     
anticipated activity of such ,network4  
7b7 ,report of unlawful activity and    
corrective action ,the ,secretary of the
 ,treasury shall report promptly to the 
,committee on ,financial ,services of   
the ,house of ,representatives and the  
,committee on ,banking1 ,housing1 and   
,urban ,affairs of the ,senate any      
unlawful activity of the ,financial     
,crimes ,enforcement ,network and any   
corrective action taken or planned to   
address that activity and prevent such  

activity in the future4  ,,ii ,fin,c,e,n
 ,accountability  #bja4 ,transparency   
with controlling documents  7a7         
,definition of controlling document ,as 
used in this section1 the term          
controlling document refers to any      
record 7as defined in section #ccja of  
title #dd1 ,united ,states ,code7 issued
 by or under the authority of the       
,secretary1 ,deputy ,secretary1 ,under  
,secretary for ,enforcement1 or any     
other officer or employee of the        
,department of the ,treasury1 that      
delegates authority to the ,financial   
,crimes ,enforcement ,network or its    
,director in the implementation of      
section #caj of title #ca1 ,united      
,states ,code1 or the ,bank ,secrecy    
,act4  7b7 ,disclosure to ,congress ,the
 ,secretary of the ,treasury shall      
promptly provide to the ,committee on   
,financial ,services of the ,house of   
,representatives and the ,committee on  
,banking1 ,housing1 and ,urban ,affairs 
of the ,senate-- 7#a7 controlling       

documents in force as of the date of the
 enactment of this ,act2  7#b7 any      
controlling documents issued thereafter2
 and  7#c7 any changes to controlling   
documents described in paragraphs 7#a7  
and 7#b7 made thereafter1 including any 
revocations thereof4  7c7 ,disclosure to
 the public ,the ,secretary of the      
,treasury shall make available promptly 
to the public the controlling documents 
and changes that the ,secretary is      
required to provide to the committees   
listed in subsection 7b71 excluding such
 reasonably segregable portions of      
controlling documents or changes as     
would fall within an exemption in       
section #eeb7;b7 of title #e1 ,united   
,states ,code4  7d7 ,bank ,secrecy ,act 
defined ,in this section1 the term ,bank
 ,secrecy ,act means-- 7#a7 section #ba 
of the ,federal ,deposit ,insurance ,act
 7#ab ,u4,s4,c4 #ahbi;b72  7#b7 chapter 
#b of title ,i of ,public ,law #ia-ejh  
7#ab ,u4,s4,c4 #aiea et seq472 and  7#c7
 subchapter ,,ii of chapter #ec of title

 #ca1 ,united ,states ,code4  #bjb4     
,testimony by the ,director of          
,fin,c,e,n ,section #eccf7;c77#aa77;,a7 
of title #ca1 ,united ,states ,code1 is 
amended by striking #e years and        
inserting #aj years4  ,,iii ,small      
,business ,working ,group  #cja4 ,small 
,business ,working ,groups  7a7 ,in     
general ,section #caj7;g77#e77;,a7 of   
title #ca1 ,united ,states ,code1 is    
amended-- 7#a7 in clause 7vi7 by        
striking and at the end2  7#b7 in clause
 7vii7 by striking the period at the end
 and inserting 2 and2 and  7#c7 by      
inserting the following at the end3     
7viii7 each year1 hold a small business 
working group to-- 7,i7 share           
information about the effectiveness of  
beneficial ownership information2       
7,,ii7 promote coordination between     
,fin,c,e,n and the small business       
community2 and  7,,iii7 provide guidance
 to small businesses about beneficial   
ownership reporting obligations4  4  7b7
 ,appropriations ,no amounts may be     

appropriated to carry out the amendments
 made by subsection 7a74