What's New? Supervision and Regulation Letter 25-4

Yesterday, October 10, 2025, the Board of Governors of the Federal Reserve System issued Supervision and Regulation (SR) Letter 25-4, with the aim to distribute and introduce Frequently Asked Questions (FAQs) regarding suspicious activity report (SAR) requirements. These FAQs serve to clarify existing regulatory obligations for financial institutions concerning SARs, which are deemed a critical tool for combating financial crime. The letter emphasizes that these answers do not alter current Bank Secrecy Act (BSA) legal requirements but aim to assist institutions in compliance and optimizing their reporting resources for law enforcement value.

For more details, see the FAQs here.