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Fallout from Pandora Papers

Fallout from the Pandora Papers continues as the President of Ecuador is under investigation and European leaders are criticizing the U.S. for its lack of money laundering controls. Investigation in Ecuador Ecuadoran President Guillermo Lasso is under investigation in his country for tax fraud.  Documents in the Pandora Papers linked Lasso to two private foundations

Pandora Papers Draw Attention to Corporate Transparency Act

The Pandora Papers are drawing attention to the Corporate Transparency Act. Opinion writers in The Washington Post credit the bombshell investigative reporting for underscoring the need to implement this new law. Pandora Papers Writers from the International Consortium of Investigative Journalists last week published thousands of pages of documents.  The trove, known as the Pandora

By |2021-10-10T13:10:44+00:00October 10th, 2021|Categories: corporate transparency act, FinCEN, Money laundering, Pandora Papers|Tags: , , |Comments Off on Pandora Papers Draw Attention to Corporate Transparency Act

FinCEN Needs to Define “Substantial Control” in Regulations

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 the question of the meaning of "substantial control" in the Act. The Act defines the “beneficial owner” of an entity, subject to certain

By |2021-10-02T20:03:29+00:00April 27th, 2021|Categories: corporate transparency act, FinCEN, makes public comments, Uncategorized|Tags: , , , , |Comments Off on FinCEN Needs to Define “Substantial Control” in Regulations

FinCEN Issues Advanced Notice of Public Rulemaking on CTA Beneficial Ownership Reporting Requirements

FinCEN Issues Advanced Notice of Public Rulemaking on CTA Beneficial Ownership Reporting Requirements 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 Corporate Transparency Act. Comments are due by May 5, 2021.

By |2021-10-02T20:03:30+00:00April 10th, 2021|Categories: corporate transparency act, FinCEN|Tags: , , |Comments Off on FinCEN Issues Advanced Notice of Public Rulemaking on CTA Beneficial Ownership Reporting Requirements
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