; and (D) a law enforcement agency. (e) Enforcement The owner of an approved telecommunications system shall be a covered person for purposes of section 505(a)(8). (f) Rulemaking No later than 1 year after the date of enactment of this section, the Secretary of the Treasury, in consultation with the Secretary of Homeland Security and each agency referenced in section 505(a), shall issue regulations to carry out the amendments made by this section. (g) Relation to suspicious activity reports Nothing in this section shall be construed to modify, limit, alter, or supersede section 5318(g) of title 31, United States Code, or any regulation promulgated thereunder. (h) Rule of construction (1) In general Compliance with the provisions of this section shall not constitute a violation of other provisions of this title. (2) Transmission, receipt, and sharing of information A financial institution that transmits, receives, or shares information under this section shall not be liable to any person under any law, or regulation of any State or political subdivision thereof, or under any contract or other legally enforceable agreement (including any arbitration agreement), for such disclosure or for any failure to provide notice of such disclosure, or any other person identified in the disclosure, except where such transmission, receipt, or sharing violates this section or regulations promulgated under this section. . 304. No action letters Section 310 of title 31, United States Code, as amended by sections 102, 103, and 104 of this Act, is amended by adding at the end the following: (g) No-Action letters with respect to specific conduct (1) In general The Director and the Federal functional regulators, in consultation with State bank supervisors, shall jointly promulgate regulations and guidance to establish a process for the issuance of a no-action letter by FinCEN and the relevant Federal functional regulators in response to an inquiry from a person described in paragraph (2) concerning the application of the Bank Secrecy