The Corporate Transparency Act (the “CTA”) requires a range of entities, primarily smaller, otherwise unregulated companies, to file a report with the U.S. Department of the Treasury’s Financial Crimes Enforcement Network...more
11/1/2024
/ Anti-Money Laundering ,
Beneficial Owner ,
CFTC ,
Corporate Transparency Act ,
Exemptions ,
Financial Crimes ,
FinCEN ,
Limited Liability Company (LLC) ,
Limited Partnerships ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Subsidiaries ,
U.S. Treasury
On July 8, 2024, the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) released additional FAQs with respect to the beneficial ownership reporting requirements of dissolved entities. The Corporate...more
On March 1, 2024, Judge Liles C. Burke of the U.S. District Court for the Northern District of Alabama ruled that the Corporate Transparency Act (the “CTA”) is unconstitutional, leaving its future uncertain. The CTA requires...more
On January 12, 2024, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) released additional FAQs in response to questions received regarding compliance with various aspects of the Corporate...more
On December 21, 2023, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued the final rule on Beneficial Ownership Information Access and Safeguards (the “Access Rule”) laying out the...more
1/10/2024
/ Anti-Money Laundering ,
Beneficial Owner ,
Confidentiality Agreements ,
Corporate Transparency Act ,
Financial Institutions ,
FinCEN ,
National Security ,
Penalties ,
Popular ,
Regulatory Violations ,
Reporting Requirements ,
SRO ,
U.S. Treasury
In 2021, the Corporate Transparency Act (the “CTA”) was enacted into U.S. federal law as part of a multi‑national effort to rein in the use of entities to mask illegal activity. The CTA directs the U.S. Department of the...more
12/29/2023
/ Beneficial Owner ,
Corporate Transparency Act ,
FinCEN ,
Foreign Corporations ,
Full-Time Employees ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Limited Liability Company (LLC) ,
Parent Corporation ,
REIT ,
Reporting Requirements ,
U.S. Treasury
On October 13, 2023, the Securities and Exchange Commission (the “SEC”) adopted new Rule 10c-1a (the “Securities Lending Rule”), requiring the reporting of certain securities lending transactions. Certain material terms of...more
10/30/2023
/ Broker-Dealer ,
Confidential Information ,
Consolidated Audit Trail ,
EU ,
Financial Industry Regulatory Authority (FINRA) ,
Loans ,
Over The Counter Derivatives (OTC) ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
SFTR ,
TRACE ,
UK
On October 13, 2023, the Securities and Exchange Commission adopted new Rule 13f-2 to require monthly reporting of short sale positions and activity data on new Form SHO by institutional investment managers. The new rules...more
In 2021, the U.S. enacted the Corporate Transparency Act (the “CTA”) as part of a multi‑national effort to rein in the use of entities to mask illegal activity. The CTA directs the U.S. Department of the Treasury’s Financial...more
On January 1, 2021, Congress enacted the Corporate Transparency Act (the “CTA”) as part of the Anti-Money Laundering Act of 2020 in the National Defense Authorization Act for Fiscal Year 2021. Congress passed the CTA to...more
1/18/2023
/ Anti-Money Laundering ,
Beneficial Owner ,
CFTC ,
Corporate Transparency Act ,
Corruption ,
FinCEN ,
Investment ,
Investment Adviser ,
National Intelligence Agencies ,
National Security ,
Publicly-Traded Companies ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Tax Evasion ,
Venture Capital