What is an administrative subpoena or summons?

An administrative subpoena or summons is specifically a demand issued by a federal agency requiring the production of documents or testimony in connection with an investigation. This tool allows federal agencies to obtain necessary information without needing to go through the more formal and lengthy process of obtaining a warrant or court order. Such subpoenas are critical in the context of the Bank Secrecy Act, where agencies like the Financial Crimes Enforcement Network (FinCEN) may need access to financial records to investigate potential violations of the law, such as money laundering, fraud, or other financial crimes.

This demand is distinct from other options like a request for voluntary compliance, which implies that the recipient has the choice to comply without a legal obligation. Similarly, a request from state agencies usually refers to different legal processes that operate at the state level, which may not have the same reach or authority as federal subpoenas. Lastly, a guideline for financial record retention pertains to the policies surrounding how long institutions should keep their records, which is an entirely different aspect of regulatory compliance. Thus, the correct answer highlights the formal and enforceable nature of the request made by federal agencies to obtain essential information for investigations.