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Skadden, Arps, Slate, Meagher & Flom LLP

New ‘Failure To Prevent Fraud’ Offence Expected To Come Into Force in the UK Shortly

The UK government introduced a major overhaul of its framework for addressing financial crime — and brought into force numerous significant changes — when the Economic Crime and Corporate Transparency Act 2023 (the Act)...more

Stinson LLP

The Final Countdown: Major CTA Reporting Deadline Rapidly Approaching

Stinson LLP on

Barring any unforeseen changes, the Corporate Transparency Act's (CTA) major reporting deadline arrives on January 1, 2025. The CTA requires all existing reporting companies (those entities formed prior to January 1, 2024) to...more

Husch Blackwell LLP

Cannabis Law Now Podcast: Cannabis Companies and the Corporate Transparency Act

Husch Blackwell LLP on

The Corporate Transparency Act (CTA) seeks to increase corporate transparency and combat financial crimes in the U.S. such as money laundering and terrorist financing. Enacted in January 2021 as part of the National Defense...more

Foley & Lardner LLP

What Every Multinational Company Should Know About … International Mergers & Acquisitions (Part 1 of 4): Conducting International...

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The risks for international investments have sharply expanded in recent years. Identifying, managing, and mitigating investment risk, in the current regulatory environment, can be just as essential as managing risk in any...more

Hinckley Allen

New Reporting Requirements for the Corporate Transparency Act (Updated)

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Hinckley Allen has assembled a multi-disciplinary team to help companies navigate the new Corporate Transparency Act (“CTA”) reporting requirements, having closely followed the CTA since its enactment. Our team is familiar...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

Holland & Knight LLP

Examining FinCEN FAQs, Proposed Legislation and Other CTA Developments

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In this episode of "Corporate Transparency Talk," tax attorney Alan Granwell is joined by private wealth services attorney John Bunge and corporate attorney Michael Titens to examine recent developments related to the...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

American Conference Institute (ACI)

[Event] 18th Annual Conference on Anti-Corruption - June 18th - 19th, London, United Kingdom

Hosted by the C5 Group, the 18th Annual Conference on Anti-Corruption London will bring together the brightest minds in anti-corruption and compliance to review the most pressing multi-jurisdictional enforcement updates...more

Skadden, Arps, Slate, Meagher & Flom LLP

DOJ Pilot Program Promises Non-Prosecution Agreements to Individuals Reporting Fraud, Bribery and Other Corporate Crimes

On April 15, 2024, the Department of Justice’s (DOJ’s) Criminal Division unveiled a new Pilot Program on Voluntary Self-Disclosures for Individuals that offers non-prosecution agreements (NPAs) to individuals who voluntarily...more

Cadwalader, Wickersham & Taft LLP

Challenges to the Corporate Transparency Act

The Corporate Transparency Act (the “CTA”), which became effective on January 1, 2024, requires certain domestic and foreign companies doing business in the United States to file a beneficial ownership report with the U.S....more

Cadwalader, Wickersham & Taft LLP

Not So Sweet Home Alabama

In a recent opinion out of the U.S. District Court for the Northern District of Alabama, the newly-effective Corporate Transparency Act (“CTA”) has been found unconstitutional. In National Small Business United v. Janet...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

Pullman & Comley, LLC

Corporate Transparency Act Deemed Unconstitutional in Narrow Alabama District Court Decision

Pullman & Comley, LLC on

On March 1, 2024 the United States District Court for the Northern District of Alabama Northeastern Division granted National Small Business United d/b/a the National Small Business Association its motion for summary judgment...more

Cadwalader, Wickersham & Taft LLP

Court Finds Corporate Transparency Act Unconstitutional and Unenforceable as to NSBA Members

On March 1, 2024, the U.S. District Court for the Northern District of Alabama ruled that the Corporate Transparency Act (“CTA”) is unconstitutional. The CTA requires many U.S. entities to disclose their individual beneficial...more

Pillsbury Winthrop Shaw Pittman LLP

FinCEN’s Proposed Rule to Regulate Investment Advisers: The Questions Industry Should Be Following

FinCEN is focused on customer due diligence, and both the 2024 Investment Adviser Risk Assessment and proposed rule indicate that investment advisers will be expected to assess customer identity, business model, and sources...more

Nossaman LLP

No Exception for the Masses: Update on the Corporate Transparency Act

Nossaman LLP on

As many of you may have seen in the news, on March 1, 2024, a federal district court in Alabama found the Corporate Transparency Act (CTA) unconstitutional. The suit, National Small Business United v. Yellen (National Small...more

Lowndes

Alabama District Court Declares Corporate Transparency Act Unconstitutional

Lowndes on

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

Bilzin Sumberg

U.S. Transparency Updates

Bilzin Sumberg on

The United States has started with a bang for 2024 with respect to transparency initiatives. The initiatives affect real estate, financial and business sectors. This alert provides a brief overview of the developments in...more

Wyrick Robbins Yates & Ponton LLP

The Corporate Transparency Act Suffers a Setback (But is Still with Us)

The federal Corporate Transparency Act, or CTA, went into effect on January 1 of this year. In brief, the CTA requires business entities to file information regarding their beneficial owners and persons involved in creating...more

Whiteford

Client Alert: Corporate Transparency Act (CTA) Found Unconstitutional by Federal District Court

Whiteford on

On March 1, 2024, the U.S. District Court for the Northern District of Alabama in National Small Business United et al.  v. Janet Yellen et. al., Case No. 5:22-cv-1448-LCB,  held the Corporate Transparency Act (the “CTA”) to...more

Polsinelli

Challenge to Corporate Transparency Act Prevails – For Now

Polsinelli on

On March 1, 2024, a U.S. District Judge in Alabama issued a judgment holding that the Corporate Transparency Act (CTA) is unconstitutional because it exceeds the Constitution’s limits on Congress’ power. Further, FinCEN is...more

Ballard Spahr LLP

The American Front in Russia’s War on Ukraine: DOJ’s “Task Force KleptoCapture” Continues Focus on Operations of Sanctioned...

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We previously have blogged on actions taken by the DOJ’s “Task Force KleptoCapture,” an interagency law enforcement task force with a mandate to target sanctioned Russian and pro-Russian oligarchs. While explicitly launched...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

Shumaker, Loop & Kendrick, LLP

Client Alert: The Corporate Transparency Act Imposes Reporting Requirements Applicable to Many Condominium, Cooperative, and...

The Federal Corporate Transparency Act (CTA), which took effect January 1, 2024, requires most homeowners, condominium, and other community associations to report information relating to the association and its directors and...more

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