A new federal law requires real estate broker-owned business entities to disclose personal information and photographs of persons with ownership and control over their business....more
CTA Denial #4: “That can’t be constitutional.”
A lone small business advocacy group, National Small Business United (affiliated with the National Small Business Association), has filed suit against the U.S. Department of...more
CTA Denial #3: “My industry’s lobbyists would never allow such a law to get passed.”
Lobbyists had staved off attempts to implement the CTA, and its predecessor bills, for decades....more
11/9/2023
/ Anti-Corruption ,
Anti-Money Laundering ,
Beneficial Owner ,
Corporate Transparency Act ,
Corporate Veil ,
Corruption ,
Financial Crimes ,
Financial Regulatory Reform ,
FinCEN ,
National Security ,
NPRM ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Shell Corporations
A new federal law requires health care business entities to disclose personal information and photographs of persons with ownership and control over their business. The Centers for Medicare & Medicaid (CMS) and other federal...more
11/2/2023
/ Beneficial Owner ,
Business Ownership ,
Centers for Medicare & Medicaid Services (CMS) ,
Corporate Transparency Act ,
Disclosure Requirements ,
Financial Crimes ,
FinCEN ,
Health Care Providers ,
Healthcare ,
Regulatory Requirements ,
Reporting Requirements
CTA Denial #2: “I have a small business. The Corporate Transparency Act only applies to large businesses.”
The CTA’s impact on small businesses is counterintuitive to many business owners, who erroneously believe that...more
CTA Denial #1: “I am a sophisticated business owner, and I have never heard of this.”
The enactment of the CTA in 2021 came as a shock to many (to some, a much later aftershock)....more
A new federal law requires businesses to disclose personal information and photographs of their owners and control persons, including retained fractional executives.
Why this matters for you. From Wall Street to Main...more
The U.S. Department of Treasury, on behalf of the Financial Crimes Enforcement Network (“FinCEN”), has invited the public to submit comments on the information to be collected in the beneficial ownership information (“BOI”)...more
The Financial Crimes Enforcement Network (“FinCEN”) is proposing to amend the beneficial ownership information (“BOI”) reporting rule (the “Reporting Rule”) to extend the filing deadline for certain companies to file their...more
The Public Company Accounting Reform and Investor Protections Act of 2002, commonly known as the “Sarbanes-Oxley Act,” or “SOX” for short, has been in effect for twenty years, and as we celebrate the Act’s platinum...more
With the recent release of the “Pandora Papers,” renewed attention is focused on corporate ownership transparency. Earlier this year, Congress passed the Corporate Transparency Act (“CTA”). The CTA was enacted to combat the...more
10/6/2021
/ Corporate Transparency Act ,
Financial Fraud ,
FinCEN ,
International Consortium of Investigative Journalists (ICIJ) ,
Money Laundering ,
Offshore Companies ,
Offshore Funds ,
Pandora Papers ,
Shell Corporations ,
Tax Evasion ,
Tax Haven ,
White Collar Crimes
Executive Summary -
The U.S. Congress recently passed the Corporate Transparency Act (“CTA”) as part of the 2021 National Defense Authorization Act. The CTA requires certain corporations, limited liability companies and...more
3/17/2021
/ Anti-Money Laundering ,
Beneficial Owner ,
BSA/AML ,
Corporate Transparency Act ,
Customer Due Diligence (CDD) ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Know Your Customers ,
National Security ,
NDAA ,
New Legislation ,
Reporting Requirements ,
Shell Corporations
Lawson v. FMR LLC -
In a decision giving private company employers cause to reassess their employee policies and protocols, on March 4, 2014 the U.S. Supreme Court issued a split decision in Lawson v. FMR LLC that...more