In a significant step towards modernizing Bank Secrecy Act compliance, FinCEN and the federal banking agencies are providing flexibility in “know your customer” requirements for banks.
Davis Polk partner and White Collar Defense & Investigations practice chair Neil MacBride, AML/CFT head Dan Stipano, partners Paul Marquardt and David Portilla and associate Josh Slifka a...
Webinar
1.0 CA - General; NY - Professional Practice / Practice Management
Please join us as we unpack how the Trump administration’s policies will potentially impact financial institutions and how firms can manage an evolving compliance landscape. Topics incl...
U.S. companies and U.S. persons are now exempt from the beneficial ownership reporting requirements under the Corporate Transparency Act and Beneficial Ownership Information Reporting Rule.
The Treasury Department’s decision to suspend enforcement of the CTA and BOI Reporting Rule means that beneficial ownership reporting under the CTA is now voluntary for U.S. citizens an...
FinCEN announced that it will not impose fines or penalties on companies that do not submit their beneficial ownership information reports by the upcoming deadline of March 21, 2025. The ...
A U.S. District Court stayed the remaining nationwide injunction against the Corporate Transparency Act, thereby reinstating the reporting requirements under the BOI Reporting Rule. In a ...
Davis Polk AML/CTF practice head Dan Stipano authored “Corporate Transparency Act enforcement needs an overhaul” in American Banker. In the piece, Dan examines the Beneficial Ownershi...
While the Supreme Court granted the government’s motion to stay the nationwide injunction issued in Texas Top Cop Shop, Inc. v. McHenry, reporting companies are still not required to su...
Reversing an order issued earlier this week, the Fifth Circuit reinstated the nationwide injunction on enforcement of the Corporate Transparency Act, placing reporting requirements back o...
