On February 24, 2021, Davis Polk partner Dan Stipano will speak at the American Bar Association’s “In the Know: Developments in Beneficial Ownership Reporting and Anti-Money Laundering Law” virtual event. Topics discussed will include the Corporate Transparency Act, adopted as Title LXIV (64) of the 2021 National Defense Authorization Act, including:
- Who is affected by this newly passed legislation and the compliance requirements.
- What qualifies as a “beneficial owner” of an entity and what is excluded.
- What are the penalties for failure to file accurate information.
- Who must file complete the filing and who is exempt.
- What effect might this filing have on small business entity organic documents.
- What potential ethical landmines should attorneys avoid.
- How should you start preparing your clients for the BO filings.
- What will be the timeline for the implementation of this legislation.
For more information, please visit the event website.