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FinCEN › National Security

The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of... more +
The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of money laundering, terrorist financing and other financial crimes by collecting, monitoring, and analyzing financial transaction data. Such data is disseminated to both domestic and international law enforcement agencies. less -
White & Case LLP

FinCEN Issues Final Sweeping AML Requirements for Registered Investment Advisers & ERAs

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On August 28, 2024, FinCEN issued a long-awaited final rule meant to address illicit finance activities and national security threats in the asset management industry. The new rule imposes similar requirements on investment...more

Stinson LLP

The Final Countdown: Major CTA Reporting Deadline Rapidly Approaching

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Barring any unforeseen changes, the Corporate Transparency Act's (CTA) major reporting deadline arrives on January 1, 2025. The CTA requires all existing reporting companies (those entities formed prior to January 1, 2024) to...more

DLA Piper

National Security Risks Headline New AML Requirements for Investment Advisers – and More to Come?

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Last week, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a widely anticipated final rule to police the estimated $125 trillion-plus investment adviser market. The new rule extends...more

Polsinelli

New Government Reporting Requirements That May Apply To You

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If you or your trust owns an interest in a corporation, limited liability company, partnership, or other type of entity, subject to limited exceptions, you are likely required to provide certain information to the FinCEN...more

Torres Trade Law, PLLC

The Corporate Transparency Act: Treasury’s New Back Door for Finding CFIUS Non-Notified Transactions

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Much has been written about the Corporate Transparency Act (“CTA”), which was enacted on January 1, 2021, and went into effect on January 1, 2024. Briefly, the CTA requires “reporting companies” to disclose beneficial...more

Falcon Rappaport & Berkman LLP

Dissolved But Not Forgotten: CTA Compliance for Companies Dissolved After January 2024

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The Corporate Transparency Act (“CTA”) was signed by Congress back in January of 2021, but the Beneficial Ownership Information Reports (“BOI Reports”) were not required until January 1, 2024. Over the past six months,...more

The Volkov Law Group

Congress Extends Sanctions Statute of Limitations And Addresses Other National Security Issues

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On April 24, 2024, President Biden signed into law a sweeping national security legislative package that included the 21st Century Peace Through Strength Act, which includes measures to promote sanctions and export controls...more

K2 Integrity

[Webinar] AML/CFT Rules for Investment Advisers - June 12th, 9:30 am PT

K2 Integrity on

On 13 February 2024, the Financial Crimes Enforcement Network (FinCEN) issued a groundbreaking Notice of Proposed Rulemaking (NPRM) to combat illicit finance and national security threats in the investment adviser sector. The...more

Robinson & Cole LLP

Corporate Transparency Act: Beware of Filing Scams

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Since the Corporate Transparency Act took effect on January 1, 2024, scammers have seized the opportunity to send notices to owners of recently formed companies offering “filing services.” In response to these scams, FinCEN...more

Cadwalader, Wickersham & Taft LLP

Challenges to the Corporate Transparency Act

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The Corporate Transparency Act (the “CTA”), which became effective on January 1, 2024, requires certain domestic and foreign companies doing business in the United States to file a beneficial ownership report with the U.S....more

Cadwalader, Wickersham & Taft LLP

Not So Sweet Home Alabama

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In a recent opinion out of the U.S. District Court for the Northern District of Alabama, the newly-effective Corporate Transparency Act (“CTA”) has been found unconstitutional. In National Small Business United v. Janet...more

Whiteford

Corporate Transparency Act Guidelines - April 2024

Whiteford on

The Corporate Transparency Act’s (the “CTA”) reporting requirements are effective as of January 1, 2024. As a result, many companies in the United States will have to report information about their beneficial owners, i.e.,...more

Hinckley Allen

Federal Court Declares Corporate Transparency Act Unconstitutional: Implications and Recommendations for Businesses

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On March 1, 2024, Judge Liles C. Burke of the Northern District of Alabama, Northeastern Division, ruled in U.S. v. Yellen that the Corporate Transparency Act (the “Act”) is unconstitutional. The federal district court found...more

Pullman & Comley, LLC

Corporate Transparency Act Deemed Unconstitutional in Narrow Alabama District Court Decision

Pullman & Comley, LLC on

On March 1, 2024 the United States District Court for the Northern District of Alabama Northeastern Division granted National Small Business United d/b/a the National Small Business Association its motion for summary judgment...more

Cadwalader, Wickersham & Taft LLP

Court Finds Corporate Transparency Act Unconstitutional and Unenforceable as to NSBA Members

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On March 1, 2024, the U.S. District Court for the Northern District of Alabama ruled that the Corporate Transparency Act (“CTA”) is unconstitutional. The CTA requires many U.S. entities to disclose their individual beneficial...more

Kramer Levin Naftalis & Frankel LLP

Les nouvelles obligations américaines de déclaration des bénéficiaires effectifs

Kramer Levin Naftalis & Frankel LLP on

Face aux critiques récurrentes de l’opacité des entités américaines et après de multiples projets de réforme inaboutis (dont l’un proposé en 2008 par Barack Obama, alors sénateur, ou un autre ayant fait l’objet du veto du...more

Nossaman LLP

No Exception for the Masses: Update on the Corporate Transparency Act

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As many of you may have seen in the news, on March 1, 2024, a federal district court in Alabama found the Corporate Transparency Act (CTA) unconstitutional. The suit, National Small Business United v. Yellen (National Small...more

Husch Blackwell LLP

The Corporate Transparency Act Is Unconstitutional—But Not for You

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On Friday March 1, 2024, the U.S. District Court for the Northern District of Alabama in NSBA v. Yellen ruled that the Corporate Transparency Act (CTA) is unconstitutional because it cannot be justified as an exercise of...more

Vinson & Elkins LLP

The Corporate Transparency Act - NSBU v. Yellen

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In a key development relating to the Corporate Transparency Act (the “CTA”), on March 1, 2024, U.S. District Judge Liles C. Burke of the Northern District of Alabama issued a memorandum opinion and final judgment ruling the...more

Dechert LLP

Treasury Proposes Investment Advisers AML/CFT Program Rule

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Treasury proposed a new rule that would require investment advisers to establish an AML/CFT program and file certain reports, such as Suspicious Activity Reports (SARs), with FinCEN (Proposed Rule). The Proposed Rule...more

K2 Integrity

FINCast Ep. 39 – State of Russia Sanctions Two Years After the Invasion

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On FINCast Episode 39, Juan Zarate sits down with K2 Integrity’s Katya Hazard and Amir Fadavi to discuss the state of Russia-related sanctions and to explore what has worked and what may require further coordinated efforts to...more

Eversheds Sutherland (US) LLP

The Corporate Transparency Act is unconstitutional - For some, and for now

Eversheds Sutherland (US) LLP on

On March 1, 2024, the United States District Court for the Northern District of Alabama found that the Corporate Transparency Act (CTA) is unconstitutional because it exceeds Congress’ legislative power. The 53-page opinion...more

Mayer Brown

Federal Court Declares the Corporate Transparency Act Unconstitutional

Mayer Brown on

On March 1, 2024, the US District Court for the Northern District of Alabama declared the Corporate Transparency Act (“CTA”) unconstitutional, and suspended its enforcement against the plaintiffs in that case. While most...more

Lowndes

Alabama District Court Declares Corporate Transparency Act Unconstitutional

Lowndes on

On March 1, 2024, the United States District Court for the Northern District of Alabama ruled that the Corporate Transparency Act (CTA) exceeds the constitutional limits on Congress’s legislative power and is therefore...more

K&L Gates LLP

When Transparency Becomes Opaque: District Court Finds Corporate Transparency Act Unconstitutional

K&L Gates LLP on

Executive Summary - On 1 March 2024, the US District Court for the Northern District of Alabama issued an opinion holding the Corporate Transparency Act (CTA) unconstitutional....more

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