The Department of Treasury’s Financial Crimes Enforcement Network today issued a notice of proposed rulemaking revising the Bank Secrecy Act regulations regarding the reporting of foreign bank and financial accounts.  The proposed rule would expand and clarify the exemptions for certain US persons with signature or other authority over foreign financial accounts and remove the special rules permitting limited account information to be reported when a US person has financial interest in or signature authority over 25 or more foreign financial accounts.  Comments are requested by May 9.