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Regulatory Requirements Beneficial Owner

Orrick, Herrington & Sutcliffe LLP

The Economic Crime and Corporate Transparency Act 2023: Identity Verification

Identity Verification (“IDV”) is a new process requiring individuals that run, own or control UK companies or limited liability partnerships (“LLPs”) to prove their identity to Companies House. IDV registration is voluntary...more

Carlton Fields

FinCEN Postpones Opening Night for RIA AML Programs

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On July 21, 2025, the Financial Crimes Enforcement Network (FinCEN) announced its intention to postpone, for two years, the effective date of a final rule subjecting investment advisers to the anti-money laundering (AML)...more

Constangy, Brooks, Smith & Prophete, LLP

Wire Fraud: Should banks CYA by tightening up on KYC?

After a long weekend, Finance Manager Joe sits at his desk to read his emails. One of the emails is from a trusted vendor with whom the Joe communicates on a regular basis, regarding an unpaid invoice that is due immediately....more

Walkers

How will the OECD's Crypto-Asset Reporting Framework impact your business?

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Many crypto-asset service providers will soon be required to start collecting detailed information about customers and transactions and report to their national tax authorities annually. Such businesses must obtain a...more

Foodman CPAs & Advisors

Cumplimiento CARF y VASP: Cerrando Brechas de Supervisión Cripto en LATAM

La regulación global de las criptomonedas ha pasado de la teoría a la aplicación real. El Marco de Reporte de Criptoactivos (CARF) de la OCDE y los estándares reforzados para Proveedores de Servicios de Activos Virtuales...more

Conyers

BVI Corporate Review – Q2 2025

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As outlined in our Q1 2025 review, important amendments to BVI company law came into effect as of 2 January 2025, including a requirement to file beneficial ownership information through the VIRRGIN system maintained by the...more

Ropes & Gray LLP

Customer due diligence: HM Treasury outlines next steps on money laundering rules and FCA finalises PEPs guidance

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July saw a number of updates regarding the prevention of money laundering in the UK, reflecting the Government’s stated commitment to ensuring that compliance requirements are effective yet not unnecessarily onerous for the...more

Morrison & Foerster LLP

Sec Lit IQ: MoFo’s Quarterly Federal Securities Litigation and Delaware Corporate Litigation Newsletter (Q2 2025)

In our latest edition of MoFo’s quarterly federal securities and Delaware corporate litigation newsletter, we provide a rundown of select developments from the second quarter of 2025. The SEC’s New Crypto Guidance- On July...more

Hogan Lovells

SEC staff updates guidance on Section 13 beneficial ownership reporting rules

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The SEC’s Division of Corporation Finance recently issued 18 revised Compliance and Disclosure Interpretations (C&DIs) relating to Exchange Act Sections 13(d) and 13(g) and Regulation 13D-G under the Exchange Act. This...more

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

Verrill

No Need to Report That Your Domestic Entity is Now Exempt from BOI Reporting Requirements

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Through an Interim Final Rule that became effective March 26, 2025 (the “IFR”), the U.S. Treasury Department took action to exclude all U.S.-formed entities from the BOI[1] reporting regime under the Corporate Transparency...more

Blake, Cassels & Graydon LLP

Négociation de conventions d’achat de biens immobiliers : cinq considérations essentielles

Les tendances récentes observées dans les opérations immobilières au Canada révèlent l’évolution des pratiques de négociation et de nouvelles approches en matière de gestion des risques, de réglementation et de vérification...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

Conyers

2025 Bermuda Insurance Bulletin

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Welcome to the latest edition of the Conyers Bermuda Insurance Bulletin. It is hard to believe that the second quarter of the year is well underway! The Bermuda (re)insurance sector has had a strong start to 2025 following a...more

Hogan Lovells

The EBA’s draft regulatory technical standard on customer due diligence - What should firms be worried about?

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The European Banking Authority consultation on customer due diligence under the EU’s 6th money laundering package closes on 06 June, 2025, with the EBA due to submit its findings to the European Commission’s call for evidence...more

Pillsbury Winthrop Shaw Pittman LLP

847 Awaiting Takeoff: DCSA Issues Guidance on Expanded Scope of FOCI Assessments

Section 847, which will expand foreign ownership, control or influence requirements to non-classified contracts, is on track for implementation in 2026. Section 847 of the National Defense Authorization Act for FY 2020...more

Pillsbury Winthrop Shaw Pittman LLP

The Ironic Impact of FinCEN’s New CTA Regulations on New York’s LLC Transparency Act

The NYS LLC Transparency Act (the “New York Act”) became law in January 2024 and takes effect on January 1, 2026. When in effect, it would require limited liability companies formed or qualified to do business in New York to...more

Carey Olsen

British Virgin Islands investment funds - Spring 2025 update

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Our investment funds team outline the latest developments within the investment funds market in the British Virgin Islands ("BVI"), including the funds statistics from the British Virgin Islands Financial Services Commission...more

Harris Beach Murtha PLLC

New Reporting Requirement for Certain Residential Real Estate Transfers

Effective December 1, 2025, the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) will implement new rules for non-financed residential real estate transfers. The purpose of the rule is to increase...more

Bass, Berry & Sims PLC

FinCEN Interim Final Rule Signals End of Domestic Entities’ CTA Reporting Obligations

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After almost 18 months of uncertainty and confusion with respect to the implementation and enforcement of the Corporate Transparency Act (CTA), on Friday, March 21, the U.S. Department of Treasury’s Financial Crimes...more

Walkers

Update on the beneficial ownership reporting regime in the Cayman Islands - ongoing obligations and developments

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Entities have ongoing obligations to keep beneficial ownership information up to date. Legislative developments have clarified what information needs to be reported for trusts and deemed beneficial owners....more

Hogan Lovells

Changes in Beneficial Ownership rules under the new EU Anti-Money Laundering Regulation (EU) 2024/1624

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The adoption of the EU Anti Money Laundering Regulation (EU) 2024/1624 (the “AML Regulation") marks a significant advancement in the European Union's efforts to combat money laundering and terrorist financing. Effective from...more

Hogan Lovells

Transforming Industries: How the EU's anti-money laundering regulation affects the non-financial sector

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The new EU Anti-Money Laundering Regulation (EU) 2024/1624 (the “AML Regulation”) introduces significant changes to the regulation of non-financial sectors. By including new obliged entities, the EU demonstrates its...more

IR Global

FinCEN’s New Interim Final Rule on Beneficial Ownership Information Reporting

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On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) announced significant changes to the Beneficial Ownership Information Reporting (BOIR) requirements (Department of the Treasury, 2025). This new interim...more

Husch Blackwell LLP

FinCEN Removes Beneficial Ownership Reporting Requirements for U.S. Companies and U.S. Persons Under the CTA

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On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule (IFR) removing the requirement for U.S. domestic reporting companies and U.S. persons to report Beneficial Ownership...more

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