Banks would be allowed to share suspicious activity reports with certain affiliates under a proposal issued last week by the Financial Crimes Enforcement Network.

The proposal would permit sharing within a corporate organizational structure provided that the affiliate is subject to regulation by Fincen or the federal banking agencies.

"The rule and guidance proposed today helps to ensure that critical information is appropriately shared and reaffirms our commitment to protect this sensitive information," Fincen Director James Freis said in a press release.

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