News & Analysis as of

Financial Regulatory Reform FinCEN

Verrill

Filing a BOI Report Online: A Step-by-Step Guide

Verrill on

Navigating the process of filing Beneficial Ownership Information (BOI) reports can be challenging. That's why we've created a comprehensive guide to help you through the technical steps of completing your online BOI...more

Seyfarth Shaw LLP

FinCEN's October 2024 Beneficial Ownership Information FAQ Update

Seyfarth Shaw LLP on

On October 3, 2024, the Financial Crimes Enforcement Network (FinCEN) issued new guidance concerning the Corporate Transparency Act (CTA) by updating and expanding on the Beneficial Ownership Information (BOI) Reporting...more

Burr & Forman

Corporate Transparency Act Filing Deadlines Approaching - What You Need to Know, Part I

Burr & Forman on

The Corporate Transparency Act (CTA) requires “reporting companies” to report certain beneficial ownership information (BOI) to the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) in order to enhance...more

Wilson Sonsini Goodrich & Rosati

Important Filing Deadline: The U.S. Corporate Transparency Act

As we approach the final quarter of 2024, we wanted to remind you of the rapidly approaching deadline for the new Beneficial Ownership Information (BOI) reporting requirements under the U.S. Corporate Transparency Act (CTA)....more

Stradling Yocca Carlson & Rauth

Navigating the Complexities of CTA Compliance: What You Need to Know

On September 30, 2022, the Financial Crimes Enforcement Network (“FinCEN”) published its final rule to implement beneficial ownership reporting requirements set forth in the Corporate Transparency Act (the “CTA”).   The CTA...more

Jenner & Block

FinTech Focus: Investment Advisers Join Ranks of Financial Institutions Subject to the Bank Secrecy Act

Jenner & Block on

Dually registered, or “dual hat,” investment advisers are already well aware of the extensive obligations imposed by the Bank Secrecy Act (“BSA”). But for others, the finalization of a Financial Crimes Enforcement Network...more

Stinson LLP

The Final Countdown: Major CTA Reporting Deadline Rapidly Approaching

Stinson LLP on

Barring any unforeseen changes, the Corporate Transparency Act's (CTA) major reporting deadline arrives on January 1, 2025. The CTA requires all existing reporting companies (those entities formed prior to January 1, 2024) to...more

Conyers

Shifting Sands: The Future of Offshore Regulatory Disputes (Part 1)

Conyers on

As an evolving area of commercial disputes in the Cayman Islands, global enforcement trends provide us with valuable insight into the types of regulatory proceedings on the horizon for offshore jurisdictions. In this first...more

Ballard Spahr LLP

Business Better Podcast Episode: FinCEN’s Notice of Proposed Regulations to Strengthen and Modernize AML/CFT Compliance Programs

Ballard Spahr LLP on

This episode features a discussion with Nick St. John, Director of Federal Compliance at America’s Credit Unions. We discuss the Notice of Proposed Rulemaking (NPRM) issued by FinCEN and federal banking regulators regarding...more

Jones Day

FinCEN Clarifies Application of Beneficial Ownership Reporting Rules to Dissolved Entities

Jones Day on

Reporting companies should take note of a recent clarification by the Financial Crimes Enforcement Network ("FinCEN") that the Beneficial Ownership Information ("BOI") Rule requires reporting companies that exist on or after...more

Perkins Coie

What Is an “Effective AML/CFT Compliance Program”?

Perkins Coie on

The Financial Crimes Enforcement Network (FinCEN) and the federal banking agencies recently published the long-awaited notice of proposed rulemaking for the anti-money laundering/countering the financing of terrorism...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - August 2024

Troutman Pepper on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Ballard Spahr LLP

FinCEN Highlights Differences in CDD Rule and CTA Reporting of BOI

Ballard Spahr LLP on

The Financial Crimes Enforcement Network (“FinCEN”) has published a two-page reference guide (“Guide”) comparing the requirements for reporting beneficial ownership information (“BOI”) to FinCEN under the Corporate...more

Troutman Pepper

Following FinCEN’s Lead, Four Federal Banking Regulators Announce AML/CFT Rulemaking

Troutman Pepper on

As discussed here, on June 28, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) proposed significant amendments to the anti-money laundering and countering the financing of terrorism...more

Ballard Spahr LLP

FinCEN Proposes Rule to Enhance AML/CFT Programs Across Industries

Ballard Spahr LLP on

FinCEN’s recent preliminary rulemaking aims to enhance and modernize regulations with requirements and priorities that affect a broad range of “financial institutions” across industries—but lacks concrete guidance on...more

Faegre Drinker Biddle & Reath LLP

Entities That 'Cease to Exist' Must Still Comply With the Corporate Transparency Act

On Monday, July 8, 2024, the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) released additional FAQs specifying that a reporting company (i.e., a company to which no exemption applies) created or...more

Skadden, Arps, Slate, Meagher & Flom LLP

FinCEN Proposes Rule To Strengthen US Anti-Money Laundering and Countering the Financing of Terrorism Programs

The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has proposed a rule (the Proposed Rule) to implement certain aspects of the Anti-Money Laundering Act of 2020 (the AML Act), which updated the...more

Troutman Pepper

FinCEN Proposes Rule to Strengthen AML/CFT Programs

Troutman Pepper on

On June 28, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced a proposed rule aimed at strengthening and modernizing financial institutions’ anti-money laundering and countering the...more

Kohrman Jackson & Krantz LLP

Recent Developments & Challenges to the Corporate Transparency Act

As we continue to monitor the future of the Federal Corporate Transparency Act (the CTA), which requires certain businesses to file a report disclosing their beneficial owners to the U.S. government, new developments in both...more

Jenner & Block

Client Alert: A Second Wave: FinCEN and SEC Further Extend Investment Advisers’ AML Obligations with New CIP Requirements

Jenner & Block on

In a sequel to FinCEN’s proposal earlier this year to extend anti-money laundering and Bank Secrecy Act regulations to investment advisers (AML/BSA Proposal), on May 13, 2024, FinCEN and the SEC jointly issued a new Notice of...more

Carlton Fields

Regulators Seek to Saddle Industry With New Obligations: Firms Bridle and Stir Up Opposition

Carlton Fields on

The Financial Crimes Enforcement Network (FinCEN), the Commodity Futures Trading Commission (CFTC), and the SEC have adopted or are proposing substantial increases in regulation of industry participants, primarily investment...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - May 2024

Troutman Pepper on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - April 2024 # 5

Troutman Pepper on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Cadwalader, Wickersham & Taft LLP

Challenges to the Corporate Transparency Act

The Corporate Transparency Act (the “CTA”), which became effective on January 1, 2024, requires certain domestic and foreign companies doing business in the United States to file a beneficial ownership report with the U.S....more

Ballard Spahr LLP

Are four digits enough? FinCEN seeks comments on CIP rule’s SSN collection requirement

Ballard Spahr LLP on

On March 28, 2024, the Financial Crimes Enforcement Network (FinCEN), in consultation with the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the National Credit Union Administration,...more

135 Results
 / 
View per page
Page: of 6

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide