On March 21, 2025, the Financial Crimes Enforcement Network of the U.S. Treasury Department (“FinCEN”) narrowed the scope of the beneficial ownership information (“BOI”) filing requirement under the Corporate Transparency Act...more
FinCEN announced that by March 21, 2025, it plans to issue an interim final rule that will extend the current beneficial ownership information (BOI) reporting deadlines under the Corporate Transparency Act. Until the new rule...more
The Corporate Transparency Act (CTA) is back in effect − at least for now − and companies covered by the CTA are once again required to file beneficial ownership information (BOI) reports with FinCEN. On February 17, 2025, in...more
On January 23, 2025, the U.S. Supreme Court vacated one nationwide stay (Texas Top Cop Shop, Inc. v. McHenry – formerly, Texas Top Cop Shop v. Garland) which blocked the U.S. government from enforcing the Corporate...more
A federal judge has blocked the U.S. government from enforcing the Corporate Transparency Act (CTA) and its implementing regulations nationwide. As a result, companies affected by the CTA do not have to report information...more
The deadline is quickly approaching for companies created or registered to do business in the United States before 2024 to report beneficial ownership information as required by the Corporate Transparency Act (CTA). The CTA...more
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has issued a final rule (the Access Rule) regarding access to and use of beneficial ownership information (BOI) maintained by FinCEN....more
The Financial Crimes Enforcement Network of the U.S. Treasury Department (“FinCEN”) issued a Notice of Proposed Rulemaking (the “Proposed Access Rule”) on December 15, 2022 to implement the second key provision of the...more
This fall the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) published a final rule (the “Rule”), effective January 1, 2024, to implement beneficial ownership reporting requirements included in the...more
On January 1, 2021, Congress enacted a broad range of anti-money laundering (“AML”) reforms within the Anti-Money Laundering Act of 2020 (the “AML Act”), as part of the National Defense Authorization Act for Fiscal Year 2021...more
2/4/2021
/ AML/CFT ,
Anti-Money Laundering ,
Beneficial Owner ,
BSA/AML ,
Corruption ,
Financial Crimes ,
Financial Institutions ,
Financial Transactions ,
Money Laundering ,
Terrorist Financing Regulations ,
Whistleblowers ,
White Collar Crimes
I. Background -
Sweden’s financial supervisory authority (“SFSA”) recently fined Swedbank AB a record 4 billion Swedish kronor (approximately $386 million) for deficiencies in its anti-money laundering (“AML”) processes...more
4/19/2020
/ Anti-Money Laundering ,
Beneficial Owner ,
BSA/AML ,
Corruption ,
Cross-Border Transactions ,
Enforcement Actions ,
Financial Crimes ,
Financial Institutions ,
Financial Transactions ,
Know Your Customers ,
Money Laundering ,
Sweden ,
White Collar Crimes