; (ii) the applicant submits with the application a specification of the firearms business practices, policies, and procedures of the applicant; and (iii) the Attorney General determines that the specification describes policies, practices, and procedures comply with regulations prescribed under section 926(d). . (b) Regulations To require licensed dealers To implement business practices, policies, and procedures To prevent business inventory firearms, ammunition, and accessories from being diverted from lawful commerce, and prevent business inventory firearms from being transferred to a straw purchaser Section 926 of such title is amended by adding at the end the following: (d) The Attorney General shall prescribe regulations requiring licensed dealers to implement business practices, policies, and procedures sufficient to prevent firearms, ammunition, and accessories in the business inventory of a licensed dealer from being diverted from lawful commerce, and to prevent business inventory firearms of a licensed dealer from being transferred to a straw purchaser, and shall do so in consultation with government entities with expertise similar to that of the White House Office of Gun Prevention. . (c) Penalties for failure To implement business practices, policies, and procedures specified in approved dealer’s license application Section 924 of such title is amended by adding at the end the following: (q) The Attorney General may impose a civil money penalty of not more than $5,000 on, and may suspend the license issued under section 923 to, any person who is a licensed dealer who fails to comply with any practice, policy, or procedure specified in the application approved under section 923 of the person to become a licensed dealer. . 4. Preventing firearm trafficking (a) Duties of firearm licensees Section 923(g) of title 18, United States Code, is amended— (1) in paragraph (1)(B)— (A) by striking or at the end of clause (ii)