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Beneficial Owner Corporate Counsel

Baker Botts L.L.P.

Beyond the Fine: What Financial Gatekeepers Must Learn from Interactive Brokers’ OFAC Settlement

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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has significantly increased its focus on sanctions compliance for “financial gatekeepers,” including financial institutions and other firms...more

Mayer Brown

Next Steps for Companies that Filed CTA Reports

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Millions of reporting companies breathed a sigh of relief on March 21, 2025, when the US Financial Crimes Enforcement Network (“FinCEN”) issued an interim final rule (the “IFR”) that exempted all domestic entities from...more

Holtzman Vogel Baran Torchinsky & Josefiak

In-Compliance: Holtzman Vogel's March 2025 Round-Up

In Compliance: Holtzman Vogel's Monthly Round-Up In this March 2025 issue of In Compliance, we cover the following topics: President Trump Issues Executive Order on Election Integrity - Treasury Department Eliminates...more

Ropes & Gray LLP

FinCEN Significantly Narrows Corporate Transparency Act Reporting Requirements

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On March 21, the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) published an interim final rule (the “March 21 Rule”) that: Narrows (significantly) the beneficial ownership information (“BOI”)...more

Vinson & Elkins LLP

FinCEN and the U.S. Treasury Department Suspend CTA Enforcement – Forthcoming Rule to Narrow CTA Compliance to Foreign Reporting...

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On February 27, 2025, the Financial Crimes Enforcement Network (“FinCEN”) announced a suspension of enforcement actions related to the Corporate Transparency Act (“CTA”). This announcement means that reporting companies are...more

McGlinchey Stafford

FinCEN Announces No Penalties for BOI Reporting Failures

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On February 27, 2025, FinCEN announced “it will not issue any fines or penalties or take any other enforcement actions against companies based on any failure to file or update beneficial ownership information (BOI) reports...more

UB Greensfelder LLP

What the Latest Reinstatement of the Corporate Transparency Act Means

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Filing requirements under the Corporate Transparency Act (CTA) have been reinstated. Per FinCEN’s (Financial Crimes Enforcement Network’s) most recent Alert released on February 18, 2025, the new deadline for filing...more

Clark Hill PLC

CTA Back in Effect – Reports Now Due March 21

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On Feb. 18, the U.S. District Court in Smith, et al v. U.S. Dept. of Treasury stayed the last remaining nationwide injunction on enforcement of the Corporate Transparency Act. After this court action, FinCEN announced that...more

Morgan Lewis

UK Economic Crime and Corporate Transparency Act: Additional Changes to Roll Out in 2025

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Following the implementation of the Economic Crime and Corporate Transparency Act 2023, Companies House enacted some initial changes over the course of 2024 to improve transparency and ensure the accuracy of the information...more

Foley & Lardner LLP

SEC Actions in Review: What Officers and Directors Should Know for 2025

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As the regulatory landscape continues to evolve, public company officers and directors must stay abreast of the enforcement priorities and expectations of the Securities and Exchange Commission (SEC). Over the past year, the...more

Pillsbury Winthrop Shaw Pittman LLP

Beneficial Ownership Reporting: Litigation, Pending Legislation and Possible Future Executive Action Have Left the Fate of the...

The saga of the CTA continues. Adopted in January 2021, the Corporate Transparency Act (CTA) is intended to assist in identifying beneficial ownership and control of entities operating in the United States in order to...more

Tucker Arensberg, P.C.

Update: Despite U.S. Supreme Court Decision, Enforcement of the Corporate Transparency Act (“CTA”) is Still On Hold

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On January 23, 2025, the U.S. Supreme Court lifted an injunction that had blocked enforcement of the CTA and its regulations, as originally issued by the U.S. District Court for the Eastern District of Texas on December 3,...more

Amundsen Davis LLC

U.S. Supreme Court Provisionally Reinstates the Corporate Transparency Act

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The U.S. Supreme Court issued an order on January 23, 2025, which provisionally reinstates the Corporate Transparency Act (CTA) while a legal challenge to it continues. This brief order, which stayed an injunction against the...more

Ruder Ware

The CTA Journey – It Goes On and On and On

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The Corporate Transparency Act (“CTA”) has been on a journey this past month with a whirlwind of court rulings: halted by a federal district court, reinstated by the Fifth Circuit’s motions panel, had its reporting deadlines...more

BakerHostetler

Nationwide CTA Injunction Is Back in Effect. What Happens Now?

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In yet another twist, the CTA is again currently enjoined (for now). On Dec. 26, in a highly unusual chain of events, the merits panel of the Fifth Circuit Court of Appeals vacated the emergency stay granted by the motions...more

Perkins Coie

Nationwide Injunction Against Corporate Transparency Act Enforcement: What To Know and What To Expect

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The U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction against enforcement of the beneficial ownership information reporting requirements of the Corporate Transparency Act (CTA)...more

WilmerHale

Corporate Transparency Act: FinCEN Provides Guidance in Response to Federal District Court Preliminarily Enjoining Enforcement of...

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On December 6, 2024, the Financial Crimes Enforcement Network, a bureau of the U.S. Department of the Treasury (“FinCEN”), posted a statement on its website affirming that entities qualifying as “reporting company” (defined...more

Beacon Insights by JD Supra

The Corporate Transparency Act – 2024 Popular Reads on JD Supra

A roundup of some of the most widely read Corporate Transparency Act (CTA) publications on JD Supra throughout 2024....more

DarrowEverett LLP

Injunction Halts Enforcement of Corporate Transparency Act: What’s Next?

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On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction temporarily blocking enforcement of the Corporate Transparency Act (CTA) and its reporting rule...more

Allen Matkins

Using A Service To File A Beneficial Ownership Information Report? Be Sure To Read The Small Print

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It cannot be gainsaid that the Corporate Transparency Act has been a major headache for millions of business entities.  The CTA is part of the William M. (Mac) Thornberry National Defense Authorization Act (NDAA) for Fiscal...more

BCLP

Corporate Transparency Act: Ongoing Litigation Not Likely to Change End-of-Year Filing Dates

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After the U.S. Congress enacted the federal Corporate Transparency Act (the “CTA”) on January 1, 2021, a wide range of plaintiffs immediately brought suit against the government challenging its constitutionality. Currently,...more

Verrill

Filing a BOI Report Online: A Step-by-Step Guide

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Navigating the process of filing Beneficial Ownership Information (BOI) reports can be challenging. That's why we've created a comprehensive guide to help you through the technical steps of completing your online BOI...more

Seyfarth Shaw LLP

FinCEN’s October 2024 Beneficial Ownership Information FAQ Update

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On October 3, 2024, the Financial Crimes Enforcement Network (FinCEN) issued new guidance concerning the Corporate Transparency Act (CTA) by updating and expanding on the Beneficial Ownership Information (BOI) Reporting...more

BCLP

Corporate Transparency Wave: New York and Beyond - What Businesses Need to Know About the New or Proposed State Laws on Corporate...

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The federal Corporate Transparency Act (the “CTA”) has prompted certain states to consider their own laws aimed at increasing the transparency of beneficial ownership. This article delves into the recently enacted New York...more

BCLP

CTA and Corporate Governance: A Quick Guide for Situations Where CTA Comes into Play

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The Corporate Transparency Act (“CTA”) was enacted by The U.S. Congress in January 2021 as a way to protect the United States financial system from being used for money laundering and other illicit activities....more

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