On January 1, 2021, Congress enacted the Corporate Transparency Act (the “CTA”) as part of The National Defense Authorization Act. The CTA mandates the establishment of a national registry requiring companies to disclose the...more
On December 7, 2021, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) proposed new regulations (“Proposed Regulations”) defining and implementing the beneficial ownership reporting...more
12/23/2021
/ Anti-Money Laundering ,
Beneficial Owner ,
Corporate Transparency Act ,
Financial Crimes ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Transactions ,
FinCEN ,
Money Laundering ,
Proposed Regulation ,
Regulatory Requirements
Overview The CTA will establish an information collection and management system to track beneficial ownership of business entities to be created and maintained by FinCEN. The Department of the Treasury is required to issue...more