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Managing CTA compliance is going to be a significant task for companies when the Corporate Transparency Act takes effect. This is the first of a series on important compliance procedures that companies should...Read More

We put together these Frequently Asked Questions about the CTA to answer some of the questions readers have sent. So keep sending us your questions so we can add to this list! Frequently Asked Questions About...Read More

FinCEN announced that it had increased penalties for violations of the Bank Security Act. The change modifies 31 CFR 1010.821 by increasing the table of penalties found in that regulation. The change increases...Read More

Him Das, the Acting Director of FinCEN, addressed enforcement priorities in a speech to the American Bankers Association. Industry watchers monitor public statements from FinCEN in light of the organization's...Read More

In its proposed CTA regulations, FinCEN defines "substantial control" in a way that will increase corporate governance and filing obligations for millions of U.S. companies. Corporate Transparency Act...Read More

Lawyers advising corporate clients will have new ethical duties as a result of the Corporate Transparency Act.Congress adopted the Corporate Transparency Act in December 2020. The CTA will take effect when FinCEN...Read More

Are you ready to be a Company Applicant? Do you know what one is? If this term is unfamiliar, you are not alone. Many lawyers, however, will soon need to know whether they are a "company applicant" for their...Read More

FinCEN today published its initial draft regulations to implement the Corporate Transparency Act. Regulators had previously published an advanced notice of public rulemaking to explore issues surround the CTA....Read More

The Financial Crimes Enforcement Network - FinCEN - called attention to environmental crimes in a published notice last week. FinCEN administers rules under the Bank Secrecy Act that obligate banks and other...Read More

FinCEN has issued a new Advisory on Ransomware that expands on its previous report on ransomware trends. The Financial Crimes Enforcement Network (FinCEN) is responsible under the Bank Secrecy Act to develop for...Read More

Congress Members are disappointed with the slow pace of implementing the Corporate Transparency Act according to reporting in the Financial Times. The three Democratic committee chairs have written to Janet Yellen,...Read More

Beneficial ownership rules in Europe and the U.S. are different but changing fast. As part of the National Defense Authorization Act of 2021 Congress adopted the Corporate Transparency Act (or "CTA"). The CTA...Read More