Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Financial Crimes Enforcement Network relating to "Anti-Money Laundering/Countering the Financing of Terrorism Program and Suspicious Activity Report Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers".

Bill 119 hjres 56 is a piece of legislation that aims to disapprove of a rule submitted by the Financial Crimes Enforcement Network (FinCEN) regarding Anti-Money Laundering/Countering the Financing of Terrorism Program and Suspicious Activity Report Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers. The bill falls under chapter 8 of title 5, United States Code, which allows Congress to review and potentially overturn regulations proposed by federal agencies.

The rule in question pertains to the reporting requirements for investment advisers and exempt reporting advisers in relation to suspicious financial activities that may be linked to money laundering or terrorism financing. The bill seeks to challenge and reject this rule, indicating a disagreement with the approach taken by FinCEN in regulating these activities.

If passed, Bill 119 hjres 56 would signify Congress's disapproval of the FinCEN rule and prevent it from being implemented. This legislative action reflects the ongoing debate and scrutiny surrounding financial regulations and the balance between preventing illicit activities and ensuring compliance burdens are reasonable for businesses.