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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

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

Amundsen Davis LLC

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

Amundsen Davis LLC on

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

Allen Matkins

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

Allen Matkins on

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

Seyfarth Shaw LLP

FinCEN’s October 2024 Beneficial Ownership Information FAQ Update

Seyfarth Shaw LLP on

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

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

BCLP on

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

WilmerHale

Corporate Transparency Act: First Wave of Required Reports Due Starting on March 31, 2024

WilmerHale on

As we have previously reported, the Corporate Transparency Act (“CTA”) is a broad anti-money laundering law intended to assist law enforcement in combating illicit financial activity. The CTA’s beneficial ownership reporting...more

Polsinelli

FinCEN Publishes Updated FAQs to Assist in Reporting Compliance

Polsinelli on

The Financial Crimes Enforcement Network (“FinCEN”) recently published updates to its list of Frequently Asked Questions (“FAQs”) to assist entities in complying with the beneficial ownership reporting requirements of the...more

Kelley Drye & Warren LLP

Instructions for Filing Beneficial Ownership Information Reports under the Corporate Transparency Act

On January 1, 2024, the new beneficial ownership information reporting requirements (BOIR) went into effect under the Corporate Transparency Act (CTA). Among other things, beneficial ownership reporting is intended to make it...more

K2 Integrity

SEC Division of Examination Risk Alert Highlights Deficiencies in Broker-Dealers’ AML Compliance Programs

K2 Integrity on

The U.S. Securities and Exchange Commission (SEC) is responsible for protecting investors and ensuring the integrity of the securities markets. As part of this mission, the SEC requires broker-dealers to comply with...more

Best Best & Krieger LLP

What You Need to Know About the U.S. Corporate Transparency Act

Practical Issues for Entity Management - The Corporate Transparency Act (CTA) is new legislation passed by Congress as part of the Anti-Money Laundering Act of 2020. This legislation sets forth uniform beneficial ownership...more

Sands Anderson PC

Corporate Transparency Act: The Coming Federal Reporting Requirements for Smaller Businesses

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More regulatory requirements are coming from the federal government for small to mid-sized businesses. Other than tax filing requirements, such as obtaining a tax ID number or possible securities filings, the federal...more

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