In 2021, Congress enacted the bipartisan Corporate Transparency Act (CTA) to curb illicit finance. This law requires many companies doing business in the United States to report information about who ultimately owns or controls them. Under the CTA, companies are obligated to file this beneficial ownership information (BOI) with the US Financial Crimes Enforcement Network (FinCEN).
Stay up to date with the latest resources regarding the CTA's enforcement. These legal updates and podcast episode summarize the implications of the latest rulings for companies and possible next steps by the courts and Congress.
Listen to the Podcast
Join us for a new episode of Financial Services Focus with partners Gina Parlovecchio and Matthew Bisanz, and associate Kelly Truesdale, as they discuss FinCEN’s recent confirmation that reporting companies are not required to file beneficial ownership reports for as long as the current nationwide injunction of the CTA remains in effect. In this episode, we cover how we got here, the court's reasoning for this decision, the next steps the government is likely to take, and what companies can do to prepare now.
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