U.S. Department of Defense (DOD) contractors with foreign ownership, control, or influence (FOCI) soon will face new requirements. Though cleared DOD contractors have long been bound by FOCI obligations, the new rule will...more
4/24/2025
/ Beneficial Owner ,
Covered Entities ,
Defense Contracts ,
Defense Sector ,
Department of Defense (DOD) ,
DFARS ,
Federal Acquisition Regulations (FAR) ,
Federal Contractors ,
Federal Procurement Systems ,
Foreign Entities ,
Foreign Nationals ,
National Security ,
NDAA ,
Proposed Rules ,
Risk Mitigation ,
Subcontractors ,
Supply Chain
The Corporate Transparency Act (CTA) requires certain legal entities to identify their individual Beneficial Owners on a report filed electronically with the U.S. Department of the Treasury's Financial Crimes Enforcement...more
10/3/2024
/ Aircraft ,
Anti-Money Laundering ,
Aviation Industry ,
Beneficial Owner ,
Compliance ,
Corporate Transparency Act ,
Domestic Corporations ,
Filing Deadlines ,
FinCEN ,
Foreign Corporations ,
Limited Liability Company (LLC) ,
Personal Information ,
Reporting Requirements ,
Statutory Trusts
The Corporate Transparency Act (CTA), enacted by Congress as part of the Anti-Money Laundering Act of 2020, for the first time under federal law, requires the establishment of a centralized, national beneficial ownership...more
9/6/2023
/ Aircraft ,
Anti-Money Laundering ,
Aviation Industry ,
Beneficial Owner ,
Corporate Crimes ,
Corporate Transparency Act ,
Corruption ,
Financial Crimes ,
FinCEN ,
Money Laundering ,
Reporting Requirements ,
Shell Corporations ,
Special Purpose Vehicles ,
Tax Fraud ,
Terrorism Funding
The U.S., European Union (EU), United Kingdom (U.K.) and many other countries have imposed similar but not necessarily identical sanctions on Russia. In corporate jet transactions, the sanctions laws of several jurisdictions...more
5/10/2022
/ Aircraft ,
Beneficial Owner ,
Due Diligence ,
Economic Sanctions ,
EU ,
Export Controls ,
Federal Aviation Administration (FAA) ,
Office of Foreign Assets Control (OFAC) ,
Prohibited Transactions ,
Russia ,
SDN List ,
U.S. Commerce Department ,
UK ,
Ukraine