Wyoming Administrative Code Agency 021 - Audit, Dept. of
Here’s a refined overview of the Wyoming Administrative Code pertaining to Agency 021 – Department of Audit:
📋 Agency Overview
Agency 021 is the Department of Audit in Wyoming’s Administrative Code. It oversees financial regulation, audits, public funds, banking, and related activities (regulations.justia.com).
🧭 Sub-Agencies & Key Functions
The Department is structured into several sub-agencies, each handling distinct domains:
Sub‑Agency 0001 – Banking Board
(Chapters 1–5) – Supervises the State Banking Board.
Sub‑Agency 0002 – Banking Division
(Chapters 1–30) – Regulates state-chartered banks and credit institutions, including digital asset services (e.g., Chapter 19 covers custodial rules for digital assets) (law.cornell.edu).
Sub‑Agency 0003 – General Agency/Commission Rules
(Chapters 6–12) – Addresses agency-wide administrative procedures.
Sub‑Agency 0004 – Money Transmitters
(Chapters 1–7) – Defines licensing and operational rules for money transmitter entities.
Sub‑Agency 0005 – Public Funds Division
(Chapters 1–10) – Covers supervision and auditing of public funds.
Chapter 1: Authority, scope, definitions, reporting deadlines (updated Feb 16, 2023) (law.cornell.edu, law.cornell.edu)
Chapter 4: Special districts' financial reporting and risk assessments (regulations.justia.com)
Sub‑Agency 0006 – Residential Mortgage Practices
(Chapters 1–5) – Sets rules for mortgage-related transactions and licensing.
Sub‑Agency 0007 – Uniform Consumer Credit Code
(Chapters 1–5) – Implements consumer credit regulations.
Chapter 4 details administrative hearing procedures (law.cornell.edu, law.cornell.edu)
Sub‑Agency 0008 – Financial Technology Sandbox
(Chapter 1) – Establishes a regulatory sandbox for fintech experiments.
🔍 Notable Regulations
Digital Asset Custody (Sub‑Agency 0002, Chapter 19)
Defines standards for banks serving as "qualified custodians," security segregation, and customer instructions regarding digital assets (law.cornell.edu, regulations.justia.com).
Public Funds Risk Assessment (Sub‑Agency 0005, Chapter 4)
Requires special districts to be assessed annually based on revenue or expenditures, determining audit oversight levels (regulations.justia.com).
Administrative Hearings (Sub‑Agency 0007, Chapter 4)
Outlines detailed procedures and processes for hearings, service, evidence, and appeals under the Wyoming Administrative Procedures Act (law.cornell.edu).
📌 Summary Table
| Sub‑Agency | Focus Area |
|---|---|
| 0001 | Banking Board oversight |
| 0002 | Banking Division & digital assets |
| 0003 | General agency rules |
| 0004 | Money transmitter regulations |
| 0005 | Public funds audit and reporting |
| 0006 | Mortgage practice standards |
| 0007 | Consumer credit code administration |
| 0008 | Fintech sandbox regulation |
✅ Conclusion
Agency 021 – Department of Audit comprises eight sub-agencies regulating financial institutions, public finance, consumer credit, and innovative fintech initiatives—each with carefully structured chapters governing topics like digital custody, fiscal reporting, and administrative hearings.
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