All Corporate Transparency Act articles
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News BriefU.S. BOI efforts earn it upgraded rating from FATF
The United States’s progress on implementing the beneficial ownership information reporting requirements contained within the Corporate Transparency Act earned it praise from the intergovernmental Financial Action Task Force.
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PremiumJudge’s ruling calls FinCEN beneficial ownership registry into question
A federal court judge in Alabama ruled the Corporate Transparency Act was beyond Congress’s power, potentially throwing the effectiveness of the Financial Crimes Enforcement Network beneficial ownership information registry into doubt.
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PremiumFinCEN head: Agency seeking to educate, not punish, BOI reporters
The Financial Crimes Enforcement Network will focus its attention regarding compliance with its new beneficial ownership reporting requirements on education and outreach during the first year of implementation, although “willful violations” will still merit punishment.
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PremiumNeed to know: FinCEN beneficial ownership information reporting
Many reporting companies are still unsure whether their organization is required to file beneficial ownership information with the Financial Crimes Enforcement Network or are completely unaware of the new requirements. For those with questions, we have answers.
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News BriefFinCEN sets access rules for beneficial ownership registry
The Financial Crimes Enforcement Network made several changes suggested by commenters to a new rule allowing limited access to its beneficial ownership information registry.
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PremiumSurvey: FinCEN beneficial ownership rule still a mystery to many
A survey of U.S.-based businesses—as well as the law firms and certified public accountants who serve them—uncovered a shocking lack of understanding and preparedness for looming beneficial ownership reporting requirements.
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News BriefFinCEN alerts banks to payroll tax, workers’ compensation schemes
The Financial Crimes Enforcement Network issued a notice to financial institutions regarding its observations of increasing payroll tax evasion and workers’ compensation fraud taking place in the U.S. residential and commercial real estate construction industries.
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PremiumABA resolution latest effort to separate lawyers from clients’ crimes
Under increasing pressure from federal lawmakers and regulators, the American Bar Association agreed to strengthen the obligations lawyers must meet when weighing whether to stop representing clients who might be using their services to commit financial crimes.
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ArticleFinCEN proposes restricted access to beneficial ownership registry
The Treasury Department’s Financial Crimes Enforcement Network released a notice of proposed rulemaking that outlines what agencies and entities should be allowed to access the beneficial ownership registry that is in the works.
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ArticlePandora Papers exposed gaps in AML compliance. Is beneficial ownership registry the answer?
FinCEN’s upcoming ultimate beneficial ownership registry could help to combat some of the anti-money laundering deficiencies put on display by the Pandora Papers, but not until Congress gets serious about funding the initiative.
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ArticleBill to expose shell companies passes House vote
A proposed bill to crack down on anonymous shell companies passed a House of Representatives vote Tuesday and will progress to the Senate.
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ArticleCongress shows new resolve to combat shell companies
The United States seems poised to finally tackle issues surrounding shell companies and their often-opaque beneficial ownership structures.