In a recent client alert, we notified clients that on December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a preliminary injunction against enforcement of the Corporate Transparency Act (CTA) and...more
As detailed in our client alert regarding the issuance of a preliminary injunction by the Eastern District Court of Texas against the Corporate Transparency Act (CTA), enforcement of the CTA and its reporting rules on...more
On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a preliminary injunction against enforcement of the Corporate Transparency Act (CTA) and its beneficial ownership information (BOI)...more
On February 16, 2024, the Financial Crimes Enforcement Network (FinCEN) issued a notice of proposed rulemaking, which would require certain real estate professionals to report certain transaction information to FinCEN in...more
This client alert is an update to an earlier MoFo client alert issued on December 8, 2022. In a final rule implementing the Corporate Transparency Act (the “Final Rule”), the Financial Crimes Enforcement Network (“FinCEN”)...more
2/15/2024
/ Anti-Money Laundering ,
Beneficial Owner ,
Corporate Transparency Act ,
Financial Crimes ,
FinCEN ,
Legal Entity Identifiers ,
Limited Liability Company (LLC) ,
Limited Partnerships ,
Popular ,
Real Estate Investments ,
Regulatory Requirements ,
REIT ,
Reporting Requirements
On December 21, 2023, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued final rules establishing a framework for accessing, using, and protecting beneficial ownership information (BOI)...more
1/22/2024
/ Anti-Money Laundering ,
Beneficial Owner ,
Corporate Transparency Act ,
Customer Due Diligence (CDD) ,
Financial Crimes ,
FinCEN ,
Foreign Corporations ,
Intelligence Services ,
Law Enforcement ,
National Security ,
Reporting Requirements
In 2021, Congress passed the Corporate Transparency Act (CTA), which is designed to bring the U.S. into compliance with international anti-money laundering (AML) standards. The CTA is aimed at combatting anonymous shell...more
On November 8, 2023, the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) published a final rule detailing when and how reporting companies can use another entity’s FinCEN identifier in place of...more
Under a final rule (the “Final Rule”) recently issued by the Financial Crimes Enforcement Network (“FinCEN”), beginning January 1, 2024, entities that own and operate U.S. real estate must report their “Beneficial Owners”—the...more
On September 29, 2022, the Financial Crimes Enforcement Network (FinCEN) issued a final rule implementing beneficial ownership requirements for certain U.S. and foreign entities registered to do business in the United States,...more