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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

The Volkov Law Group

NAVEX 2024 Whistleblower Report Highlights Important Trend — More Reports are Being Made and More Are Being Substantiated

The Volkov Law Group on

The increase in internal reporting comes at a critical time when government-sponsored whistleblower programs are maturing and expanding into new agencies.  The SEC’s program continues to increase and received a record number...more

Hinckley Allen

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

Hinckley Allen on

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

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

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

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

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

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

Bodman on

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

Foodman CPAs & Advisors

¿Cómo implementará FinCEN las Provisiones de Reportaje de Información de los Dueños Beneficiarios de la Ley de Transparencia...

FinCEN ha estado ocupada en la búsqueda de combatir la corrupción, como lo demuestra la emisión consecutiva de Avisos de Propuesta de Reglamentación (“NPRMs”). El 6/12/21, emitieron el (Proceso regulatorio para los nuevos...more

Foodman CPAs & Advisors

How will FinCEN Implement the Beneficial Ownership Information Reporting Provisions of the Corporate Transparency Act (CTA)? They...

FinCEN has been busy in the quest to fight corruption as evidenced by back-to-back issuance of Notices of Proposed Rulemaking (NPRMs).  On 12/6/21, they issued the (Regulatory Process for New Real Estate Sector Reporting...more

The Volkov Law Group

The United States Strategy on Countering Corruption: Digging into the Anti-Corruption Initiatives (Part III of III)

The Volkov Law Group on

The new United States Strategy on Countering Corruption includes several important statements of interest to legal and compliance professionals.  ...more

Jones Day

FinCEN Issues First U.S. Priorities for Anti-Money Laundering and Counter-Terrorism Financing

Jones Day on

On June 30, 2021, FinCEN announced the first set of government-wide AML/CFT Priorities, as required by the Anti-Money Laundering Act of 2020 ("AML Act"). Consistent with the National Strategy for Combating Terrorist and Other...more

Orrick, Herrington & Sutcliffe LLP

FinCEN Seeks Public Comment on Proposed Changes to Regulations Enforcing the Bank Secrecy Act

Anti-money laundering authorities are proposing a significant revision to the federal AML regulatory scheme with the aim of making it more effective while providing greater clarity to covered institutions. ...more

Ballard Spahr LLP

FinCEN Issues Advisory on Foreign Jurisdictions with AML Deficiencies

Ballard Spahr LLP on

On November 12, 2019, FinCEN issued its latest Advisory on the Financial Action Task Force-Identified Jurisdictions with Anti-Money Laundering and Combatting the Financing of Terrorism Deficiencies and Relevant Actions by the...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - November 2017

ANTICORRUPTION DEVELOPMENTS – SBM Offshore N.V. Agrees to Pay $238 Million to Resolve DOJ FCPA Enforcement Action - On November 29, 2017, SBM Offshore N.V. (SBM), a Netherlands based company specializing in the...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Chinese

ANTICORRUPTION DEVELOPMENTS - U.K. Opens Corruption Investigation of Rio Tinto over Guinea Operations - On July 24, 2017, the United Kingdom’s Serious Fraud Office (SFO) announced that it had opened an investigation into...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Russian

ANTICORRUPTION DEVELOPMENTS - U.K. Opens Corruption Investigation of Rio Tinto over Guinea Operations - On July 24, 2017, the United Kingdom’s Serious Fraud Office (SFO) announced that it had opened an investigation into...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - July 2017

ANTICORRUPTION DEVELOPMENTS - U.K. Opens Corruption Investigation of Rio Tinto over Guinea Operations - On July 24, 2017, the United Kingdom’s Serious Fraud Office (SFO) announced that it had opened an investigation into...more

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