News & Analysis as of

Corporate Transparency Act Due Diligence

Secretariat

Taking The Right Approach in Asset Searching and Recovery in 2025

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The tension among regulators between the push for increased transparency and the need to protect individual privacy is always apparent in asset searching exercises. This tension is a global phenomenon, central to the ongoing...more

Holland & Hart LLP

The Corporate Transparency Act Compliance Deadline Looms—Lenders, Are Your Customers Ready? Are YOU Ready?

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The January 1, 2025, deadline imposed by the Corporate Transparency Act (CTA) for all “reporting companies” formed prior to 2024 to file their initial beneficial ownership reports with FinCEN is rapidly approaching. Given the...more

Morrison & Foerster LLP

UK Government Publishes Guidance for Companies on the New Failure to Prevent Fraud Offence

Headlines - •The UK government has published its guidance on the new Failure to Prevent Fraud offence which will come into effect on 1 September 2025. •Similar to the UK Bribery Act, the provisions introduced by the Economic...more

Baker Donelson

Issues to Consider When Retaining Third-Party Vendors for CTA Filing Services

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The Corporate Transparency Act (CTA) requires many companies formed or registered to do business in the U.S., to file extensive beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN) no later...more

Strafford

[Webinar] Corporate Transparency Act's Impact on Real Estate: Reporting Companies; Exemptions; Beneficial Ownership Reporting -...

Strafford on

This CLE webinar will examine the Corporate Transparency Act (CTA), effective Jan. 1, 2024, and its impact on real estate entities and transactions, including who is considered a "reporting company" subject to new beneficial...more

Nutter McClennen & Fish LLP

Nutter Bank Report: February 2024

The U.S. Department of Justice (DOJ) and state authorities have agreed to a consent order with a large national bank to resolve allegations that the bank engaged in a pattern or practice of lending discrimination by affecting...more

Foley & Lardner LLP

The Corporate Transparency Act and the Impact on M&A in the U.S.

Foley & Lardner LLP on

2024 ushered in a seismic shift for mergers and acquisitions (M&A) in the U.S. with the implementation of the Corporate Transparency Act (CTA). Aimed at cracking down on the misuse of shell companies and promoting ownership...more

Strafford

[Webinar] Corporate Transparency Act's Impact on Real Estate: Reporting Companies; Exemptions; Beneficial Ownership Reporting -...

Strafford on

This CLE webinar will examine the Corporate Transparency Act (CTA), effective Jan. 1, 2024, and its impact on real estate entities and transactions, including who is considered a "reporting company" subject to new beneficial...more

Ballard Spahr LLP

Think Your Large Organization Is Exempt From the CTA? Think Again

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Although large organizations are generally exempt from filing under the Corporate Transparency Act (CTA), companies must perform a careful analysis to determine whether they have reporting obligations for certain subsidiaries...more

ArentFox Schiff

Legal Considerations for GCs and CFOs in the Fashion and Retail Industry in 2024

ArentFox Schiff on

The fashion and retail industry experienced another year of considerable change in 2023. As advancements in artificial intelligence (AI) spurred innovation within the industry, consumers and regulators worldwide called for...more

Seyfarth Shaw LLP

Important RWI Considerations under the Corporate Transparency Act

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The Corporate Transparency Act of 2020 took effect on January 1, 2024, adding new filing requirements for many companies that may find themselves involved in mergers and acquisitions. Given the breadth of standard...more

Proskauer Rose LLP

Wealth Management Update - December 2023

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Shining a Light on the Corporate Transparency Act: FinCEN’s Rules for Beneficial Ownership Reporting - On January 1, 2021, Congress enacted the Corporate Transparency Act (the “CTA”) as part of the Anti-Money Laundering...more

K&L Gates LLP

Why Corporates Are Now More Likely to Face Criminal Prosecution for the Actions of Their Employees

K&L Gates LLP on

Significant Expansion to Corporate Criminal Liability Becomes Law in the United Kingdom - On 26 October 2023, the Economic Crime and Corporate Transparency Act (the Act) became law. Under the Act, corporations will become...more

Seyfarth Shaw LLP

How to Prepare for the Corporate Transparency Act of 2020

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Seyfarth Synopsis: As you may know, the Corporate Transparency Act (“CTA”) is set to take effect on January 1, 2024 (“Effective Date”), impacting many privately held corporations, limited partnerships, statutory trusts,...more

Neal, Gerber & Eisenberg LLP

Client Alert: Beware of Fake CTA Reporting Requests

The Corporate Transparency Act (CTA), a law intended to enable the Financial Crimes Enforcement Network (FinCEN) to detect shell companies and protect the U.S. financial system from abuse by money launderers, drug...more

Downs Rachlin Martin PLLC

Corporate Transparency Act Imposes New Federal Reporting Requirement On Businesses

Background - In January 2021, the United States Congress passed the Corporate Transparency Act (CTA) as part of the Anti-Money Laundering Act of 2020. This law, while intended to prevent criminal actors from hiding and...more

Husch Blackwell LLP

FinCEN Shines Additional Light on the Corporate Transparency Act - FAQs and Summary Materials Now Available

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Overview- Below is an update to our April 6, 2022, client alert discussing the proposed regulations for the Corporate Transparency Act (CTA) and our October 14, 2022, client alert discussing the CTA Final Regulations as...more

Keating Muething & Klekamp PLL

Corporate Transparency Act Update – FinCEN Issues Notice of Proposed Rulemaking

On December 15, 2022, the Financial Crimes Enforcement Network (“FinCEN”) issued a Notice of Proposed Rulemaking (the “NPRM”) that would implement provisions of the Corporate Transparency Act (the “CTA”) regarding access to...more

Bradley Arant Boult Cummings LLP

FinCEN Issues Final Rule Requiring Private Companies to Report Ownership

On September 29, 2022, the United States Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule requiring millions of private companies to report their ownership to the United States...more

King & Spalding

FinCEN Requests Comments on Beneficial Ownership Reporting Requirement; FinCEN’s Request For Information Moves U.S. Towards...

King & Spalding on

The United States Department of the Treasury (“Treasury”) is taking further action to combat corruption, money laundering, terrorist financing, tax fraud, and other illicit activities. Following its Advance Notice of...more

Snell & Wilmer

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

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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

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