News & Analysis as of

Beneficial Owner

McDermott Will & Emery

Weekly IRS Roundup October 11 – October 15, 2021

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 11, 2021 – October 15, 2021... October 12, 2021: The IRS released a notice, announcing...more

Shearman & Sterling LLP

Pandora Papers Fallout: Proposed US Legislation Targets “Enablers” of Money Laundering

Shearman & Sterling LLP on

The release of the Pandora Papers, a leak of approximately 12 million documents, exposed how foreign leaders and private actors use tax havens to conceal their wealth, with the United States a destination of choice. For...more

Thomson Reuters Regulatory Intelligence and...

“Pandora Papers” highlight anti-money laundering program risks for compliance officers

Compliance officers shouldn't focus on the scandalous details of the "Pandora Papers", but instead should examine the risks to their AML programs the leak highlighted - Compliance professionals should focus on the anti-money...more

FTI Consulting

Beneficial Ownership Information in South Africa

FTI Consulting on

[co-author: Avi Gray] South Africa’s protracted fight against corruption and financial crime necessitates the deployment of new and effective countermeasures to combat criminality. Open access to timely and accurate...more

McGlinchey Stafford

What Will the Corporate Transparency Act Mean for Your Business? [More with McGlinchey, Ep. 30]

McGlinchey Stafford on

Unless you are an exempt entity, the new Corporate Transparency Act (CTA) will require you to disclose the beneficial owners of your company to the United States government. Businesses will not be required to do so, however,...more

Gray Reed

The Corporate Transparency Act: What You Need to Know About Mandatory Beneficial Ownership Reporting Requirements Coming Soon

Gray Reed on

By January 1, 2022, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) will publish regulations regarding mandatory beneficial ownership reporting requirements (Reporting Requirements) as...more

Dentons

Next Steps for B.C.’s Land Owner Transparency Act

Dentons on

The Land Owner Transparency Act came into force in British Columbia on November 30, 2020. This law created a publicly accessible database of information about certain individuals with an indirect interest in land in British...more

Nexsen Pruet, PLLC

The new Corporate Transparency Act and its potential impact on North Carolina commercial real estate attorneys

Nexsen Pruet, PLLC on

The Corporate Transparency Act of 2019 (“CTA”) was enacted January 1, 2021, as part of the Anti-Money Laundering Act of 2020 (“AMLA”), which is part of the National Defense Authorization Act for Fiscal Year 2021 (“NDAA”)....more

Hahn Loeser & Parks LLP

The Corporate Transparency Act To Take Effect In The Coming Year: What Business Owners Need To Know

U.S. companies will soon face new reporting requirements under the Corporate Transparency Act (“CTA”). The new law will require entities identified as reporting companies to provide information about their beneficial owners....more

Pillsbury Winthrop Shaw Pittman LLP

U.S. Capital Markets Regulations Affecting U.S. Companies

Capital markets in the United States provide an unparalleled source of investment capital, measured in trillions of dollars. U.S. markets and rules allow companies to raise funds on an expedited and economically efficient...more

Morgan Lewis

New German Financial Law Expands Reporting Obligations for German Entities

Morgan Lewis on

The recent reform of the German transparency register affects almost all companies in Germany and greatly expands the reporting obligations for German entities. The Transparency Register and Financial Information Act...more

Dentons

Transparency register – act now!

Dentons on

On August 1, 2021, the Transparency Register and Financial Information Act (Transparenzregister- und Finanzinformationsgesetz (referred to herein as TraFinG), which was passed by the German parliament (Bundestag) on June 10,...more

Ballard Spahr LLP

AML Act Deadlines Through January 1, 2022 – A Daunting List

Ballard Spahr LLP on

The Financial Crimes Enforcement Network (“FinCEN”) recently complied with two important deadlines under the Anti-Money Laundering Act (“AML Act”) — issuing national priorities for AML and countering the financing of...more

Eversheds Sutherland (US) LLP

FinCEN on fire: Rapid release of AML Act updates

On June 30, 2021, the Financial Crimes Enforcement Network (FinCEN) provided an update on implementation of the Anti-Money Laundering Act of 2020 (AML Act) and issued the first government-wide priorities for anti-money...more

King & Spalding

FinCEN Issues Anti-Money Laundering and Countering the Financing of Terrorism Priorities

King & Spalding on

FinCEN announces eight areas of focus and advises preparation for issuance of new regulations - On June 30, 2021, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued the first...more

Ballard Spahr LLP

FATF Concludes Fourth Plenary on Money Laundering and Terrorist Financing Risks

Ballard Spahr LLP on

FATF Issues White Paper Addressing Challenges Facing Beneficial Ownership Collection - First Post in a Series on the FATF Plenary Outcomes - The Financial Action Task Force (“FATF”) held its fourth Plenary, virtually,...more

Dentons

Costa Rica: Penalties for not complying with Ultimate Beneficial Owner (UBO)

Dentons on

The Tax Administration has notified the penalties for not complying in time with the obligation to present the Ultimate Beneficial Owner statement....more

Nutter McClennen & Fish LLP

The Corporate Transparency Act: FinCEN to Collect Beneficial Ownership Information

The Corporate Transparency Act (“CTA”) was enacted as part of the Anti-Money Laundering Act of 2020. The purpose of the CTA is to deter anonymous owners of corporations, limited liability companies, and other entities from...more

Thomson Reuters Regulatory Intelligence and...

The AMLA & the future of financial crime regulation: Q&A with K2 Integrity’s Chip Poncy

Chip Poncy of K2 Integrity recently answered questions about financial regulation, the recent Anti-Money Laundering Act of 2020, and what to expect going forward - The Biden administration has delivered bold action within...more

K&L Gates LLP

Ultimate Beneficial Ownership Rules in Qatar (2020)

K&L Gates LLP on

On 18 April 2021, the Ministry of Commerce and Industry (MoCI) announced the enforcement of certain provisions of Law number (1) of the year 2020 and its executive regulations issued by the Council of Ministers’ decision...more

Pietragallo Gordon Alfano Bosick & Raspanti,...

Beneficials Owners Be Aware

In an effort to curtail corruption, President Biden’s new memorandum requires U.S. Companies to disclose their beneficial ownership to the Department of the Treasury....more

Saul Ewing Arnstein & Lehr LLP

FinCEN Seeks Public Comment on Opaque Corporate Transparency Act

The Financial Crimes Enforcement Network of the Department of Treasury (FinCEN) has made it clear that the reporting obligations imposed on corporations, LLCs, and other “similar” entities under the new Corporate Transparency...more

Mayer Brown Free Writings + Perspectives

SEC Rulemaking Agenda Released

Last week, the Office of Information and Regulatory Affairs released the Spring 2021 Unified Agenda of Regulatory and Deregulatory Actions, which includes the Securities and Exchange Commission’s rulemaking agenda....more

Mitchell, Williams, Selig, Gates & Woodyard,...

Reporting Requirements under the Corporate Transparency Act may Effect More Entities than Anticipated

Congress recently passed the Corporate Transparency Act (CTA) requiring private companies to disclose their beneficial owners to the United States Department of the Treasury’s Financial Crime Enforcement Network (FinCEN). The...more

Dentons

Register of ultimate beneficial owners is coming in Hungary too

Dentons on

The ultimate beneficial owners’ (“UBOs”) register (“Register”) is introduced, as the 4th and 5th anti-money laundering EU directives have been implemented in Hungary as of May 22, 2021. The UBO Register will work as a central...more

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Updated: Apr 27, 2021:

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Information for EU and Swiss Residents

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Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

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Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

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Updates to This Policy

We may update this cookie policy and our Privacy Policy from time-to-time, particularly as technology changes. You can always check this page for the latest version. We may also notify you of changes to our privacy policy by email.

Contacting JD Supra

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