FinCEN recently flexed its enforcement muscles by bringing criminal charges against a New Orleans man for failing to register his money transmitting business.
Money Transmitting Business
The U.S. Treasury...Read More
A Treasury Department official confirmed this week the government's commitment to issue CTA rules by year-end.
The Corporate Transparency Act was passed by Congress over President Trump's veto in December, 2020. ...Read More
The biggest law firms are calling their clients' attention to the Corporate Transparency Act of 2020.
Sidley & Austin's memorandum to clients identifies many of the key issues that are undefined in the new...Read More
The American Banking Association made three big points in their comment letter to FinCEN on its pending ANPRM to implement the Corporate Transparency Act.
U.S. Banks have been tracking the beneficial ownership of...Read More
Peter Stone, an investigative journalist, claims that America has become of the "money laundering capital of the world."Stone claims that the U.S. earned this title because it lacks controls over money flows and...Read More
The National Association of Manufacturers (NAM) has submitted comments on FinCEN's Advance Notice of Public Rule Making (ANPRM). The NAM represents 14,000 companies, most of which are small and medium-sized...Read More
On April 11, 2021, the Treasury Department's Financial Crimes Enforcement Network (FinCEN) announced that Michael Mosier would be the Acting Director. FinCEN had also announced the departure of Director Kenneth...Read More
In its Advance Notice of Public Rulemaking, FinCEN asked for comment on 48 separate questions arising under the Corporate Transparency Act (the "Act"). FinCEN Report Company has recently submitted written comments on...Read More
FinCEN Report Company, the leading provider of filing services for beneficial ownership reports under the Corporate Transparency Act of 2020 (the "CTA"), has filed comments on the new law.FinCEN stands for the...Read More
FinCEN - the Financial Crimes Enforcement Network - announced on April 1, 2021 its Advanced Notice of Public Rulemaking on the implementation of the beneficial ownership reporting requirements created by the 2020...Read More
FinCEN Director Kenneth Blanco in prepared remarks earlier this week spoke about FinCEN's upcoming notice of proposed rule making to adopt regulations under the Corporate Transparency Act of 2020.As described in an...Read More