FinCEN Seeks Comments on Corporate Transparency Act Implementation
By EsqSocial Corporation 08/04/21
Seventh Post in an Extended Series on Legislative Changes to BSA/AML Regulatory Regime - On April 5, 2021, the Financial Crimes Enforcement Network (“FinCEN”) issued an advance notice of proposed rulemaking (“ANPRM”) to solicit public comment on questions pertaining to the implementation of the Corporate Transparency Act (“CTA”), passed as part of the Anti-Money Laundering Act of 2020 (“AMLA”). The CTA requires certain legal entities to report their beneficial owners at the time of their...
By: Ballard Spahr LLP