On February 26th, the Financial Crimes Enforcement Network proposed amendments to the Bank Secrecy Act, implementing regulations regarding the Report of Foreign Bank and Financial Accounts. The proposed rule would clarify which persons will be required to file reports of foreign financial accounts and which accounts will be reportable. In addition, the proposed rule would exempt certain persons with signature or other authority over foreign financial accounts from filing reports, and would include provisions intended to prevent United States persons from avoiding this reporting requirement. Comments should be submitted on or before April 27, 2010. FinCEN Press Release.