On February 17, 2025, a U.S. federal court granted the U.S. federal government’s motion to lift a nationwide injunction in place, that was preventing the enforcement by the Financial Crimes Enforcement Network (“FinCEN”) of...more
2/25/2025
/ Beneficial Owner ,
Business Entities ,
Business Ownership ,
Compliance ,
Corporate Transparency Act ,
Enforcement Actions ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Regulatory Requirements ,
Reporting Requirements
On January 23, 2025, the U.S. Supreme Court granted the U.S. government’s motion to stay a nationwide injunction prohibiting enforcement of the Corporate Transparency Act (“CTA”). Because a separate nationwide injunction...more
On December 3, 2024, a significant legal development occurred regarding the Corporate Transparency Act (CTA) reporting requirements. The U.S. District Court for the Eastern District of Texas issued a nationwide preliminary...more
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
3/6/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Beneficial Owner ,
Corporate Transparency Act ,
Financial Crimes ,
FinCEN ,
Geographic Targeting Order ,
Investment Adviser ,
National Security ,
Real Estate Transfers ,
Regulatory Requirements ,
Reporting Requirements ,
Suspicious Activity Reports (SARs)
It’s official: the Corporate Transparency Act (the “Act”) has gone into effect January 1, 2024. On December 21, 2023, the Financial Crimes Enforcement Network (“FinCEN”) issued its second final rule establishing the framework...more
1/2/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Beneficial Owner ,
Corporate Transparency Act ,
Customer Due Diligence (CDD) ,
Final Rules ,
FinCEN ,
New Regulations ,
Ownership Interest ,
Popular ,
Regulatory Requirements ,
Reporting Requirements
The U.S. government just averted a government shutdown this past Saturday (or at least punted for another 45 days). In the last three weeks all signals from the Financial Crimes Enforcement Network (“FinCEN”) suggests the...more
10/3/2023
/ Anti-Corruption ,
Anti-Money Laundering ,
Beneficial Owner ,
Corporate Transparency Act ,
Financial Crimes ,
FinCEN ,
National Security ,
NPRM ,
Regulatory Requirements ,
Reporting Requirements ,
Tax Evasion
On March 24, 2023, the Financial Crimes Enforcement Network (“FinCEN”) published its first set of guidance materials to aid the public, and in particular the small business community, in understanding upcoming beneficial...more
4/4/2023
/ Anti-Corruption ,
Anti-Money Laundering ,
Beneficial Owner ,
Corporate Transparency Act ,
Financial Crimes ,
FinCEN ,
International Tax Issues ,
New Guidance ,
Ownership Interest ,
Regulatory Requirements ,
Reporting Requirements ,
Shell Corporations
FinCEN Proposes the Second Installment to the Corporate Transparency Act -
On December 15, 2022, the Financial Crimes Enforcement Network (“FinCEN”) issued a Notice of Proposed Rulemaking (the "Notice") in relation to the...more
1/11/2023
/ Anti-Corruption ,
Anti-Money Laundering ,
Beneficial Owner ,
British Virgin Islands ,
Corporate Transparency Act ,
Final Rules ,
Financial Crimes ,
Financial Regulatory Reform ,
FinCEN ,
NPRM ,
Regulatory Requirements ,
Reporting Requirements ,
Shell Corporations
In a blog post early last year, we reported on the passage of the Corporate Transparency Act (“CTA”) enacted on January 1, 2021, as part of the National Defense Authorization Act for Fiscal Year 2021. As previously...more
1/20/2022
/ Beneficial Owner ,
Closely Held Businesses ,
Corporate Structures ,
Corporate Transparency Act ,
Estate Planning ,
Financial Crimes ,
FinCEN ,
Foreign Corporations ,
NDAA ,
Ownership Interest ,
Proposed Regulation ,
Regulatory Agenda ,
Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements ,
Trustees
On April 1, 2021, the Financial Crimes Enforcement Network (FinCEN) issued an Advance Notice of Proposed Rulemaking (the "Notice") seeking public comment on a myriad of issues related to the implementation of a beneficial...more
4/29/2021
/ Anti-Money Laundering ,
Beneficial Owner ,
BSA/AML ,
Corporate Transparency Act ,
Financial Crimes ,
FinCEN ,
National Security ,
NDAA ,
NPRM ,
Public Comment ,
Regulatory Requirements ,
Reporting Requirements ,
Shell Corporations