NFA proposed rule posted
Here's the proposed rule. It results from a petition by the NFA Trade and Collectors Association ... why they petitioned, I cannot explain. Perhaps they counted upon the agency to be reasonable, which is never a good idea. Even if the agency is reasonable, the regs must clear the Office of Management and Budget, which is the President's right arm in regulatory matters.
The proposed rule (as a commenter to an earlier post predicted) would require photos and fingerprints of the operator for trusts and other business entities, but does not delete the requirement that the Chief LEO sign off on the transfer. It does shave that down a little, so that the CLEO certifies that the transfer would not place the recipient in violation of law, tho he wouldn't have to certify that he knows of no reason to believe the recipient would act illegally with the gun. That doesn't solve things for CLEOs who just refuse to sign, period.
It's also interesting that the reason for this (see pp. 14-15) is given as the Brady check being unreliable...50% of arrest records have no disposition report, for example.