News & Analysis as of

Anti-Money Laundering Disclosure Requirements U.S. Treasury

Ropes & Gray LLP

Senate Passes Landmark Legislation to Regulate Payment Stablecoins

Ropes & Gray LLP on

On July 18, 2025, U.S. President Donald J. Trump signed the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act), an act designed to establish a framework for the regulation of “payment...more

Orrick, Herrington & Sutcliffe LLP

Senators pen bipartisan letter arguing rescission of Treasury rule

On May 27, Sens. Sheldon Whitehouse (D-RI) and Charles Grassley (R-IA) wrote to the Treasury encouraging recission of the interim final rule requiring “foreign reporting companies,” but not domestic entities or U.S. citizens,...more

Tarter Krinsky & Drogin LLP

Changes to The Corporate Transparency Act Bring Major Shift to U.S. Reporting Requirements

Domestic Entities No Longer Required to Disclose Beneficial Ownership Information - The U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) issued an interim final rule on March 21, 2025 (effective...more

Ballard Spahr LLP

Treasury Announces Halt to CTA Enforcement—But Not Deadlines—for U.S. Citizens and Domestic Reporting Companies

Ballard Spahr LLP on

On March 2, 2025, the U.S. Department of Treasury announced that it will suspend enforcement of penalties and fines related to beneficial ownership information (BOI) reporting under the Corporate Transparency Act (CTA) for...more

Butler Snow LLP

Treasury Department Limits Enforcement of the Corporate Transparency Act

Butler Snow LLP on

The Treasury Department announced on March 2nd that it does not intend to enforce any penalties or fines against either U.S. citizens or domestic reporting companies and their beneficial owners under the Corporate...more

Flaster Greenberg PC

Corporate Transparency Act Updates

Flaster Greenberg PC on

(2/6/25) Update as of February 5, 2025: The government appealed the nationwide injunction blocking CTA enforcement in Smith, et al. v. U.S. Department of the Treasury, et al., 6:24-cv-00336 (E.D. Tex.). FinCEN updated its...more

Ballard Spahr LLP

Treasury Issues Request for Information on Use of AI in Financial Services

Ballard Spahr LLP on

The U.S. Department of the Treasury (“Treasury”) has released a Request for Information on the Uses, Opportunities, and Risks of Artificial Intelligence (“AI”) in the Financial Services Sector (“RFI”).  Written comments are...more

Eversheds Sutherland (US) LLP

FinCEN and SEC propose Customer Identification Program requirements for investment advisers

Earlier this month, the Financial Crimes Enforcement Network (FinCEN) continued its efforts to require registered investment advisers (RIAs) and exempt reporting advisers (ERAs) to take steps to prevent the laundering of...more

Buchalter

Corporate Transparency Act Found Unconstitutional for Certain Businesses

Buchalter on

In March 2024, the Northern District of Alabama held that Congress exceeded its Constitutional authority by enacting the Corporate Transparency Act (“CTA”). The CTA requires variety corporate entities—everything from LLCs to...more

Pillsbury Winthrop Shaw Pittman LLP

The Corporate Transparency Act: Beneficial Ownership Information Reporting Checklist

The Corporate Transparency Act requires a broad range of entities to file a report with the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) identifying those who own, control and formed the...more

Perkins Coie

AMLA 2020 Series Part 1: New and Expansive Beneficial Ownership Reporting Requirements

Perkins Coie on

As we reported in April, the Anti-Money Laundering Act of 2020 (AMLA 2020) aims to strengthen protections against money laundering, terrorism financing, and other illegal activities through a variety of mechanisms, including...more

Pillsbury Winthrop Shaw Pittman LLP

Financial Services: What’s Next Under the Biden Administration?

Pillsbury partner and Public Policy group leader Elizabeth Vella Moeller recently sat down with Matthew McGuire, former Executive Director of the World Bank under President Obama, to discuss the Biden administration’s...more

Snell & Wilmer

New Year, New Laws – Congress Passes Major Anti-Money Laundering Act

Snell & Wilmer on

On January 1, 2021, Congress passed the National Defense Authorization Act for Fiscal Year 2021, an omnibus bill that includes the Anti-Money Laundering Act of 2020 (“AMLA”). The AMLA bans the use of anonymous shell companies...more

Vinson & Elkins LLP

Congress Expands The Scope Of Anti-Money Laundering Rules—Disclosing Beneficial Owners Now Required

Vinson & Elkins LLP on

The National Defense Authorization Act for FY 2021 (“NDAA”) passed Congress on December 11, 2020, with a “veto-proof” margin. Included within the NDAA are a number of anti-money laundering provisions with import for companies...more

Akin Gump Strauss Hauer & Feld LLP

Developments in Cryptocurrency in 2018

• The U.S. Securities and Exchange Commission (SEC) staff made official statements regarding when a token may or may no longer be a security • The SEC continued to bring actions related to cryptocurrency offerings against...more

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