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Lessons Learned from the Parker Drilling DPA and Ralph Lauren NPA
The New Normal: Taking Responsibility for Your Vendors
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Wayward Financial Institutions Facing Increasingly Stricter Punishment
The U.S. Securities & Exchange Commission ("SEC") recently announced settled charges against an investment adviser for misrepresentations regarding its anti-money laundering ("AML") procedures and compliance failures. As we...more
On December 3, 2024, a United States District Court in the Eastern District of Texas issued a nationwide preliminary injunction against the enforcement of the Corporate Transparency Act (CTA) and its reporting requirements....more
Hopefully, by now, you’ve become aware of the Beneficial Ownership Information Form, commonly referred to as the BOI Form or BOI Report. The Financial Crimes Enforcement Network (FinCEN) finalized rules for this report late...more
Handlungsbedarf für Unternehmen bis Jahresende - Nachdem das Transparenzregister in Deutschland und Europa inzwischen seit einigen Jahren existiert und dessen Meldepflichten in der Praxis umfassend beachtet werden, gibt...more
As we enter December, the deadline for existing non-exempt entities to comply with the Corporate Transparency Act (CTA) is fast approaching. Entities that were formed or registered to do business in the United States prior to...more
The January 1, 2025, deadline imposed by the Corporate Transparency Act (CTA) for all “reporting companies” formed prior to 2024 to file their initial beneficial ownership reports with FinCEN is rapidly approaching. Given the...more
If you have a small company in the U.S. with less than 20 employees, you need to be aware of a new law that directly impacts your business. The Corporate Transparency Act (the “CTA”) requires you to provide information to the...more
Is it too late to correct past FBARs and file amended returns with the IRS? The net is closing in on U.S. taxpayers with unreported or under-reported domestic and offshore income and assets. The IRS has increased audits in...more
Before we know it, 2024 will be coming to a close. As we approach the end of the year, we want to remind you of an important upcoming deadline under the Corporate Transparency Act. Companies formed before January 1, 2024 must...more
The January 1, 2025 deadline for any “reporting company” formed prior to January 1, 2024 to file a Beneficial Ownership Information Report (“BOIR”) with the Department of the Treasury’s Financial Crimes Enforcement Network...more
As previously noted, businesses must comply with the reporting requirements of the Corporate Transparency Act (“CTA”) by January 1, 2025. Since the CTA requirements took effect, Flaster Greenberg attorneys have worked with...more
Have you filed your company’s BOI report? As announced in December 2023, under the Corporate Transparency Act (CTA), certain legal entities formed before January 1, 2024 have to file a Beneficial Ownership Information (BOI)...more
BBK recently released a two-part series discussing the Corporate Transparency Act (“CTA”) – new legislation enacted by Congress in January 2021, as part of the Anti-Money Laundering Act of 2020....more
As a reminder to our clients and friends of the firm, the beneficial ownership reporting deadline is soon approaching. Applicable entities that were formed or registered to do business in the U.S. prior to this year, have...more
On October 10, 2024, Attorney General Merrick Garland announced that TD Bank agreed to pay over $1.8 billion in penalties to resolve the U.S. Department of Justice’s (DOJ) investigation into money laundering and Bank Secrecy...more
Last week, representatives of the US government announced one of the largest sets of fines and penalties for failures in anti-money laundering ever laid down. It involved TD Bank N.A. and TD Bank US Holding Company. It was...more
As the fourth quarter of 2024 kicks off, businesses are running out of time to determine their compliance obligations under the Federal Corporate Transparency Act (CTA). If your company does not report its beneficial owners...more
Beneficial Ownership Reports are filed electronically through the Financial Crimes Enforcement Network. Individuals who need to be reported as beneficial owners or company applicants should apply for a FinCEN ID number....more
The Corporate Transparency Act (CTA) is federal legislation that went into effect on January 1, 2024. The CTA was enacted by Congress to combat money laundering and other financial crimes by requiring a broad range of...more
As the interplay between export controls, trade sanctions, and anticorruption enforcement continues to intensify, multinational companies must remain vigilant in ensuring that their compliance programs address the many...more
The Corporate Transparency Act (the "CTA") became effective on January 1, 2024, requiring many corporations, limited liability companies, limited partnerships, and other entities to register with and report certain...more
As the end of the year approaches, there has been no determination that community associations will be relieved of the requirement to comply with the Corporate Transparency Act (CTA). While we remain hopeful of a legislative...more
The Corporate Transparency Act (CTA) imposes far-reaching new reporting obligations on many U.S. businesses, and the penalties for non-compliance are substantial. With only a few months left before the January 1, 2025,...more
On August 29, 2024, the Financial Crimes Enforcement Network (“FinCEN”) issued a final rule under the Bank Secrecy Act (“BSA”) requiring certain persons involved in real estate closings and settlements to report and maintain...more
Have you forgotten about the Beneficial Ownership Information (BOI) Report established by the Corporate Transparency Act (CTA) of 2021? Owners of qualifying domestic entities, as well as those qualifying foreign entities...more