The Corporate Transparency Act: A Legal, Political, and Regulatory Battle Over Beneficial Ownership Disclosure Client Alert Digest
The Corporate Transparency Act (CTA), as enacted, mandates that certain U.S. and foreign entities disclose their beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN), aiming to curb illicit financial activities facilitated by anonymous shell companies. However, in March 2025, the Department of the Treasury announced a significant shift in how the CTA would be implemented, along with FinCEN’s...