FinCEN Moving Quickly to Regulate Beneficial Ownership of US Entities

On April 5th, the Financial Crimes Enforcement Network of the Treasury Department (FinCEN) issued an advance notice of proposed rulemaking (ANPRM) to solicit public comment on questions pertinent to the implementation of the "Corporate Transparency Act" (CTA), enacted into law as part of the National Defense Authorization Act for Fiscal Year 2021. The ANPRM seeks … Continue reading FinCEN Moving Quickly to Regulate Beneficial Ownership of US Entities

Bye-Bye Shell Companies! Beneficial Ownership Reporting Now Required by the USA 

It’s finally here!  We now have a new law mandating creation of a national database of beneficial owners of US businesses (and foreign businesses registered to do business in the US).  It’s been a long time in coming and is being hailed as a huge anti-corruption and anti-money laundering reform .  There have been several … Continue reading Bye-Bye Shell Companies! Beneficial Ownership Reporting Now Required by the USA