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Foodman CPAs & Advisors

FinCEN Final New Rules Close Loopholes in U.S. Financial System

On August 28, 2024, FinCEN Final New Rules were published that address vulnerabilities in the U.S. financial system and are part of an on going effort to combat illicit finance and protect U.S. national security, as well as...more

The Volkov Law Group

European Council Officially Adopts New AML/CFT Package

The Volkov Law Group on

On May 30, 2024, following passage by the European Parliament in late April, the European Council officially adopted a set of rules that modernizes and harmonizes money laundering and terrorist financing (“AML/CFT”)...more

Robinson & Cole LLP

Corporate Transparency Act: Beware of Filing Scams

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Since the Corporate Transparency Act took effect on January 1, 2024, scammers have seized the opportunity to send notices to owners of recently formed companies offering “filing services.” In response to these scams, FinCEN...more

Hinckley Allen

Federal Court Declares Corporate Transparency Act Unconstitutional: Implications and Recommendations for Businesses

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On March 1, 2024, Judge Liles C. Burke of the Northern District of Alabama, Northeastern Division, ruled in U.S. v. Yellen that the Corporate Transparency Act (the “Act”) is unconstitutional. The federal district court found...more

Lowndes

Alabama District Court Declares Corporate Transparency Act Unconstitutional

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On March 1, 2024, the United States District Court for the Northern District of Alabama ruled that the Corporate Transparency Act (CTA) exceeds the constitutional limits on Congress’s legislative power and is therefore...more

Katten Muchin Rosenman LLP

Action Required: Impact of Corporate Transparency Act on Investment Managers

The Financial Crimes Enforcement Network (FinCEN) of the US Treasury Department has issued a final rule (Final Rule) implementing the beneficial ownership reporting requirements of the Corporate Transparency Act (together...more

Brownstein Hyatt Farber Schreck

FinCEN BOI Registration: A new federal requirement for millions of companies

Thanks to the Corporate Transparency Act, starting Jan. 1, 2024, all companies created in the United States must complete a new form with the Treasury Department’s Financial Crimes Enforcement Network, commonly known as...more

Sands Anderson PC

The Corporate Transparency Act: FAQs

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The Corporate Transparency Act (“CTA”) is a newly effective federal law that requires certain entities to report their owners to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”). Below are...more

Sands Anderson PC

Corporate Transparency Act: A Primer

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This is a basic primer describing the Corporate Transparency Act (“CTA“) which was enacted into federal law on January 1, 2021 as part of the Anti-Money Laundering Act of 2020 and became effective January 1, 2024.  The...more

Mayer Brown

EU Institutions Reach Political Agreements On Anti-Money Laundering and Countering the Financing of Terrorism Package

Mayer Brown on

On January 17, 2024, the Council of the European Union (Council) and the European Parliament (Parliament) announced that a political agreement had been reached on (i) a new Regulation setting forth a single anti-money...more

Allen Matkins

The Corporate Transparency Act - A Nightmare From Which Small Businesses Are Trying To Awake?

Allen Matkins on

As the new year begins, businesses of all sizes will have to contend with the federal Corporate Transparency Act.  The CTA is part of the 1,482 page William M. (Mac) Thornberry National Defense Authorization Act For Fiscal...more

Skadden, Arps, Slate, Meagher & Flom LLP

Foreign Extortion Prevention Act Criminalizes Demand-Side Bribery

On December 22, 2023, President Biden signed into law the Foreign Extortion Prevention Act (FEPA) as part of the fiscal year 2024 National Defense Authorization Act. FEPA criminalizes demand-side bribery by foreign officials...more

Cadwalader, Wickersham & Taft LLP

Welcome to 2024: CWT’s European Fund Finance Market Insights January 2024 - Cayman Moves Closer to a List-Free Summer!

The Cayman Islands recently received an early Holiday gift when the EU Commission published a regulation in mid-December paving the way to remove Cayman from its list of ‘high-risk’ countries for AML/CFT purposes. The...more

Winthrop & Weinstine, P.A.

The Corporate Transparency Act: New Reporting Requirements as of January 1

Companies have new reporting requirements beginning January 1, 2024.  The Corporate Transparency Act (CTA) passed as part of an anti-money laundering regime. The CTA requires a government-maintained registry of beneficial...more

Ballard Spahr LLP

DOJ Bolsters International Cooperation to Combat Corruption

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Summary - The Department of Justice (DOJ) has created the International Corporate Anti-Bribery initiative (ICAB), which aims to strengthen the United States’ global efforts in combating corruption through enhanced...more

Polsinelli

Part 3: Addressing and Demystifying Common Denials Surrounding the Upcoming CTA

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CTA Denial #3: “My industry’s lobbyists would never allow such a law to get passed.” Lobbyists had staved off attempts to implement the CTA, and its predecessor bills, for decades....more

Robinson & Cole LLP

The Corporate Transparency Act: Beneficial Ownership Reporting Requirements for Certain Companies Doing Business in the United...

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Beginning January 1, 2024, certain privately held companies, known as “reporting companies,” will be required to file a Beneficial Ownership Information (BOI) Report to identify, and provide personal information about, their...more

Gray Reed

A Guide to the Corporate Transparency Act.

Gray Reed on

The purpose of the Corporate Transparency Act isto “better enable critical nationalsecurity, intelligence, and law enforcement efforts to counter money laundering, the financing of terrorism, and other illicit activity” by...more

Bodman

The Corporate Transparency Act: New Requirements for Businesses to Report Beneficial Ownership Information

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The Corporate Transparency Act (the “CTA”), which takes effect on January 1, 2024, will require many companies to report certain beneficial ownership information to the Financial Crimes Enforcement Network (“FinCEN”), a...more

Morrison & Foerster LLP

Top 10 International Anti-Corruption Developments for June 2023

Designed for busy in-house counsel, compliance professionals, and anti-corruption lawyers, this newsletter summarizes some of the most important international anti-corruption law and enforcement developments from the past...more

American Conference Institute (ACI)

[Event] 12th Summit on Anti-Corruption Brazil - May 24th - 25th, Sao Paulo, SP, Brazil

Hosted by American Conference Institute, the 12th Summit on Anti-Corruption Brazil returns for another exciting year with a newly revamped, truly interactive networking and benchmarking experience. In addition to critical...more

Jones Day

FCPA 2022 Year in Review

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Foreign Corrupt Practices Act (“FCPA”) enforcement has yet to rebound from the immediate pre-pandemic period. In 2022, DOJ and SEC resolved eight corporate FCPA matters for $878 million, including four resolutions coordinated...more

American Conference Institute (ACI)

[Event] Summit on Anti-Corruption & Compliance Programs - March 22nd - 23rd, Mexico City, Mexico

Hosted by American Conference Institute, the Mexico Summit on Anti-Corruption & Compliance Programs returns for another exciting year with curated programming that shines a global spotlight on anti-corruption compliance...more

Dechert LLP

Economic Crime Act tears through Parliament, but does it have any teeth?

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In the early hours of 15 March 2022, following a wait of almost five years, the UK Parliament introduced into law the Economic Crime (Transparency and Enforcement) Act (the "Act"). The Act was fast-tracked at an...more

King & Spalding

H2 2021: Latin America Enforcement Review

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To close out 2021, enforcement authorities throughout the Americas continued to investigate fraud, corruption, and other misconduct across the region. For 2022, we expect an uptick of anticorruption investigations as a...more

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