On December 1, 2021, we issued a client alert summarizing the Corporate Transparency Act (CTA), a federal law passed to fight “shell company” money laundering, tax fraud, and other financial crimes. The CTA provides for rules...more
12/12/2022
/ Anti-Money Laundering ,
Banking Sector ,
Beneficial Owner ,
Corporate Transparency Act ,
Final Rules ,
Financial Services Industry ,
FinCEN ,
Investment ,
Publicly-Traded Companies ,
Reporting Requirements ,
Tax Exempt Entities
The Corporate Transparency Act (CTA), included as an amendment to the Anti-Money Laundering Act of 2020, was passed by Congress this year as an effort to make it more difficult to commit “shell company” money laundering, tax...more
12/2/2021
/ Anti-Money Laundering ,
Beneficial Owner ,
Civil Monetary Penalty ,
Corporate Transparency Act ,
Criminal Prosecution ,
Failure to Report ,
FDIC ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
New Legislation ,
Nonprofits ,
Publicly-Traded Companies ,
Reporting Requirements ,
Securities and Exchange Commission (SEC)