On March 1, 2024, the U.S. District Court for the Northern District of Alabama ruled that the Corporate Transparency Act (“CTA”) is unconstitutional. The CTA requires many U.S. entities to disclose their individual beneficial...more
3/25/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Beneficial Owner ,
Commerce Clause ,
Congressional Authority ,
Constitutional Challenges ,
Corporate Transparency Act ,
FinCEN ,
Motion To Enjoin ,
National Security ,
Regulatory Requirements ,
Reporting Requirements ,
Tax Evasion ,
U.S. Treasury
On December 21, 2023, the Financial Crimes Enforcement Network (“FinCEN”) published its final rule setting forth the circumstances under which beneficial ownership information reported to FinCEN pursuant to the Corporate...more
2/9/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Beneficial Owner ,
BSA/AML ,
Corporate Transparency Act ,
Final Rules ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Ownership Interest ,
Regulatory Requirements ,
Reporting Requirements
On March 2, the Department of Commerce, Department of Justice, and Department of the Treasury issued a Tri-Seal Compliance Note warning companies to be vigilant for Russia-related sanctions evasion. The Note sets forth a...more
3/14/2023
/ Anti-Corruption ,
Bureau of Industry and Security (BIS) ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Financial Services Industry ,
Military Conflict ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
U.S. Commerce Department ,
U.S. Treasury ,
Ukraine
Alongside the slew of new sanctions imposed in response to Russia’s invasion of Ukraine, the Biden administration also has been laying the groundwork to maximize the impact of those sanctions. Just days after Russian military...more
5/10/2022
/ Anti-Corruption ,
Asset Seizure ,
Biden Administration ,
Economic Sanctions ,
Foreign Policy ,
Forfeiture ,
Proposed Legislation ,
Regulatory Agenda ,
Russia ,
Ukraine ,
White Collar Crimes