Shannon Wheaton

BCLP

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Latest Posts › Reporting Requirements

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Deadlines Fast Approaching for Corporate Transparency Act Compliance

Starting January 1, 2024, many new and existing U.S. and foreign entities will be required to file reports with the Financial Crimes Enforcement Network (“FinCEN”), a division of the U.S. Treasury. ...more

12/6/2023 / Beneficial Owner , Corporate Transparency Act , Financial Crimes , Financial Regulatory Reform , FinCEN , National Security , Reporting Requirements

New Federal Anti-Crime Rule Requires Millions of Businesses to Report True Ownership

With limited amendments to its proposed rule, the Financial Crimes Enforcement Network (“FinCEN”), a division of the U.S. Department of the Treasury, recently promulgated its final rule (the “Reporting Rule”) implementing the...more

11/15/2022 / Anti-Corruption , Anti-Money Laundering , Beneficial Owner , Corporate Transparency Act , Customer Due Diligence (CDD) , Final Rules , Financial Industry Regulatory Authority (FINRA) , Reporting Requirements

The Corporate Transparency Act (CTA) is Coming: Creation of a U.S. National Beneficial Ownership Database

Potentially as soon as late 2022 or early 2023, a new U.S. regulatory requirement will come into effect which will affect over 25 million existing business entities and another 3-4 million new entities each year. The...more

2/18/2022 / Bank Secrecy Act , Beneficial Owner , Complex Corporate Transactions , Compliance , Corporate Counsel , FinCEN , Reporting Requirements

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