News & Analysis as of

Civil Monetary Penalty Beneficial Owner Financial Crimes

Lowenstein Sandler LLP

OFAC Imposes Largest-Ever Penalty on Nonbank Financial Institution for Egregious and Sustained Sanctions Violations—a $216M...

Lowenstein Sandler LLP on

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a historic $215,988,868 civil monetary penalty against GVA Capital Ltd. (GVA), a venture-capital firm registered in the Cayman Islands...more

Fox Rothschild LLP

Memo to Co-op and Condo Boards: Two Important Laws Take Effect on Jan. 1, 2025

Fox Rothschild LLP on

On January 1, 2025, two important laws will become effective, and co-op and condo boards must be aware of what is required. A New York City law, the Fair Chance for Housing Act, impacts the use of criminal background checks...more

Warner Norcross + Judd

New Corporate Transparency Act Reporting Requirement Begins in 2024

Warner Norcross + Judd on

Starting in 2024, all “reporting companies,” meaning any entity formed by filing with a secretary of state or similar office, will be required to file a “beneficial ownership report” with the U.S. Treasury Department’s...more

Fox Rothschild LLP

New Mandatory Reporting for Vast Majority of Businesses Starts in January 2024

Fox Rothschild LLP on

In less than two weeks, on January 1, 2024, the Corporate Transparency Act (CTA) will become effective. This new law is one of the most wide-reaching and disruptive pieces of legislation affecting businesses that has been...more

Perkins Coie

The Corporate Transparency Act: What To Know and Expect Starting January 1, 2024

Perkins Coie on

Beginning January 1, 2024, the Corporate Transparency Act (CTA) will require most entities formed or registered to do business in the United States to disclose detailed information regarding their owners, officers, and...more

Saiber LLC

The Corporate Transparency Act: Are You Prepared?

Saiber LLC on

Beginning on January 1, 2024, millions of business entities (including corporations, limited liability companies, and other similar entities created in or registered to do business in the United States) will be required to...more

Procopio, Cory, Hargreaves & Savitch LLP

Decoding the Corporate Transparency Act: Navigating the Changes Ahead

The reporting requirements for beneficial ownership information under the Corporate Transparency Act (CTA) will come into effect on January 1st, 2024. The CTA, a bipartisan law enacted by Congress on January 1st, 2021,...more

Steptoe & Johnson PLLC

The Corporate Transparency Act

Steptoe & Johnson PLLC on

The Corporate Transparency Act (CTA), included as an amendment to the Anti-Money Laundering Act of 2020, was passed by Congress this year as an effort to make it more difficult to commit “shell company” money laundering, tax...more

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