Implications Of The Corporate Transparency Act For US Special Purpose Vehicles, Wealth Structuring
The newly enacted Corporate Transparency Act (CTA) represents one of the most significant developments in US anti-money laundering efforts in recent years. Many US entities (and non-US entities registered to do business in the US) will now be required to report their beneficial owners to FinCEN, a unit of the US Treasury Department. The CTA will impact a wide range of practitioners as the law has clear implications for the broader corporate responsibility agenda and will add an additional layer of complexity to mergers and acquisitions, structured finance and other corporate transactions that use special purpose vehicles, as well as affect private wealth structures such as closely-held companies and other arrangements that have historically been used to achieve various strategic and privacy objectives.
This presentation will cover the key features of the CTA, the entities that are covered by the new legislation (and those that are not), the implications of the CTA for transactions involving SPVs, wealth structuring and financial institutions, and questions that will need to be addressed in the implementing regulations or by practitioners.
Presented by: Jeremy Kuester & Kerry O'Rourke Perri
CLE: 1.0 general credit
States Pre-Approved: AR, CA, ME, MO, NJ, NY, OK, PA, VT
(AK, AZ, CT, NH eligible to claim credit)
States Pending Approval: CO, GA, IL, NC, OH, TX, UT
We will apply for approval in other US states as registrations warrant,* with exception to the following: KS, RI, VA, WA**
* Approval process times will vary
** We will supply you with the information needed to self-apply