Previously, we published a blog post informing readers of the new federal Corporate Transparency Act (“the CTA”) and similar  New York state law requiring all corporations and limited liability companies, inter alia, to disclose their beneficial owners. Under the CTA, the disclosures must be made to the Financial Crimes Enforcement Network (FinCEN). Since publication of … Read more

The federal government recently passed a law requiring most companies to disclose their beneficial owners. The chief purpose of the statute is to prevent financial crimes. By mandating such disclosure, the Corporate Transparency Act (the “Act”) makes it difficult for individuals to conceal illegal activities using shell companies. New York State has also enacted its … Read more