Banking
Dec. 7, 2022
Beneficial ownership no longer nebular
The final treasury beneficial ownership information regulations will affect millions of businesses and individuals.
Stephen Mihaly
Attorney
KFB Rice, LLP
William Norman
Senior partner
Norman & Zak
Howard S. Fisher
Partner
Fisher & Fisher
The Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury Department finalized regulations on Sept. 30, pursuant to the Corporate Transparency Act (CTA) enacted on Jan. 1, 2021 as part of the National Defense Authorization Act. The purpose of the CTA is to prevent money laundering, tax evasion and other criminal activity by requiring all entities ("reporting companies") with investments or business activities in the U.S. to report all of their ...
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