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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-03-29T18:38:00
The reporting requirements of the beneficial ownership information (BOI) registry being developed by the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) will likely be revised following harsh criticism from lawmakers and businesses.
Himamauli Das, FinCEN’s acting director, said in a statement to multiple media outlets, including the Wall Street Journal, that the agency was “working to issue an updated beneficial ownership information reporting form as soon as possible.”
FinCEN and the Treasury Department did not respond to a request seeking confirmation of the statement.
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News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
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2023-09-27T20:13:00Z By Kyle Brasseur
The Financial Crimes Enforcement Network announced a notice of proposed rulemaking to extend the deadline for companies created or registered in 2024 to file their initial beneficial ownership information reports.
2023-09-18T18:49:00Z By Kyle Brasseur
Nearly three months from the effective date of its beneficial ownership reporting rule, the Financial Crimes Enforcement Network released guidance for small businesses to determine whether they must comply and what information they might be required to provide.
2023-07-13T16:29:00Z By Kyle Brasseur
Treasury Secretary Janet Yellen announced the appointment of Andrea Gacki as director of the Financial Crimes Enforcement Network.
2024-07-02T19:43:00Z By Aaron Nicodemus
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
2024-06-28T19:55:00Z By Aaron Nicodemus
The Supreme Court of the United States overturned a long-held precedent in which courts deferred to federal agencies in interpreting complex or ambiguous regulations–a decision that could make thousands of federal regulations more vulnerable to legal challenges.
2024-06-28T17:00:00Z By Aaron Nicodemus
Financial institutions would be required to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs under a new rule proposed by the Treasury Department’s Financial Crimes Enforcement Network.
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