By Aaron Nicodemus2022-09-29T19:41:00
The Financial Crimes Enforcement Network (FinCEN) finalized its beneficial ownership rule, which will require certain reporting companies to file basic information with the agency about who controls their finances.
The submitted information will be contained in a beneficial ownership registry overseen by FinCEN, a bureau of the U.S. Treasury Department, that will likely be accessible to law enforcement, financial institutions, and other “authorized users” but not the public.
The final rule, scheduled to be published in the Federal Register on Friday and take effect Jan. 1, 2024, will require reporting companies (both foreign and domestic) that file incorporation paperwork with secretaries of state or tribal authorities to also file beneficial ownership information with FinCEN.
2022-12-16T15:24:00Z By Aaron Nicodemus
The Treasury Department’s Financial Crimes Enforcement Network released a notice of proposed rulemaking that outlines what agencies and entities should be allowed to access the beneficial ownership registry that is in the works.
2022-09-16T14:30:00Z By Aaron Nicodemus
Determining the ultimate beneficial owner of individuals and companies your firm does business with can be a tricky thing. The most efficient investigations require an understanding of your firm’s risk appetite and appropriate technology to automate searches.
2022-08-16T17:00:00Z By Aaron Nicodemus
Charges levied by the Securities and Exchange Commission regarding an international scheme in which hackers accessed online brokerage accounts to manipulate stock prices impart cybersecurity and beneficial ownership lessons for compliance professionals.
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Delays to the U.K.’s Audit Reform and Corporate Governance Bill and creation of the ARGA regulator have sparked criticism. On Sept. 8, 66 MPs sent a letter to the Prime Minister urging reforms be returned to the Parliamentary agenda.
2025-09-08T05:00:00Z By Oscar Gonzalez
The FTC officially withdrew its appeal in a federal court case over its ban on employer noncompete clauses that it passed last year. The agency, however, says it wants public input regarding the effects of employer noncompete agreements.
2025-09-05T18:42:00Z By Adrianne Appel
The Department of Health and Human Services is stepping up its enforcement against hospitals and other health entities that block the sharing of electronic health records.
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