EdgarAgents (EA)’s Post

🚨 Why FinCEN Matters 🚨 The Financial Crimes Enforcement Network (FinCEN) fights financial crime by ensuring transparency 🛡️. Starting Jan. 1, 2024, many U.S. businesses must file Beneficial Ownership Information (BOI) 📝 under the Corporate Transparency Act. 💡 Why It’s Important: This rule helps prevent money laundering, tax evasion, and illegal shell companies, keeping the financial system secure 🔒. Transparency = Trust 💼 Let’s stay compliant and protect our economy! #CTA #FinCEN #Compliance

(SEC) Today, registered investment advisers advise 57 million clients. This includes advising on more than $37 trillion in registered funds, $27 trillion in private funds, and $49 trillion in separately managed accounts. 🔹 SEC oversees approximately 40,000 entities—including approximately 13,000 registered funds, approximately 15,400 investment advisers, about 3,400 broker-dealers, 25 national securities exchanges, 108 alternative trading systems, 10 credit rating agencies, and six active registered clearing agencies, among other external entities. 🔹 The SEC oversees the Financial Industry Regulatory Authority (FINRA), the Municipal Securities Rulemaking Board (MSRB), and the Securities Investor Protection Corporation (SIPC). 🔹 In addition, the Commission provides oversight over standard-setting and rulemaking by the Public Company Accounting Oversight Board (PCAOB) and the Financial Accounting Standards Board (FASB). Link to SEC Testimony https://lnkd.in/eNDvnDbf #SEC #FINRA #FinancialServices #regulatoryauthority #investmentadvisors #advisors #brokerdealers #agencies #registereddunds #privatefunds #Buckler #compliance #regulatorycompliance #riskmanagement #governance #industryoverview

🚨 Why FinCEN Matters 🚨 The Financial Crimes Enforcement Network (FinCEN) fights financial crime by ensuring transparency 🛡️. Starting Jan. 1, 2024, many U.S. businesses must file Beneficial Ownership Information (BOI) 📝 under the Corporate Transparency Act. 💡 Why It’s Important: This rule helps prevent money laundering, tax evasion, and illegal shell companies, keeping the financial system secure 🔒. Transparency = Trust 💼 Let’s stay compliant and protect our economy! #CTA #FinCEN #Compliance

There is still a lot of confusion about companies' reporting obligations under the Corporate Transparency Act, but FinCEN just updated its guidance to answer some of the lingering questions people have. The Client Alert I co-authored for Squire Patton Boggs provides an overview of FinCEN's updated guidance (and contains a link to our previous Client Alert about the CTA). #corporatetransparencyact #cta #corporategovernance

The UK's Financial Conduct Authority has criticized Macintyre Hudson LLP for inadequately preparing client asset reports, failing to inform the regulator of rule breaches by firms it audited. This lapse, occurring from 2015 to 2019, risked consumer funds and included errors in documentation and asset management. #Financialregulator, #Clientassets, #Auditingstandards, #Consumerprotection, #Financialstability, #FCA, #MacintyreHudson, #Forex, #Fintech

#FinCEN, like the banking regulators, has an interesting understanding of the word "priority." Obtaining BOI reports from companies that merge out of existence within 30 days does seem as important as say, foreign companies that are ignoring state business registration laws. But join Adam Kanter and I to learn why FinCEN has made #CTA reporting by dissolved companies it focus for the summer. https://lnkd.in/eg87Jbmq

The injunction on the Corporate Transparency Act has been reinstated by a merits panel of the Fifth Circuit. This means that reporting companies are – once again – no longer required to file beneficial ownership information with FinCEN. Read more: https://bit.ly/40ez98H

Heads Up Businesses! Beware of Corporate Transparency Act Scams The new Corporate Transparency Act (CTA) is here, but watch out for scammers trying to take advantage of it! FinCEN, the government agency behind the CTA, is NEVER going to send you unsolicited emails, calls, texts or letters. These are scams! If you get something suspicious about the CTA, don't respond, and reach out to us directly for help! Let's keep our businesses safe and informed! #CTAScamAlert #FinCEN #BeSafe

Are you ready for January 13, 2025? Recent updates to the Corporate Transparency Act (CTA) are impacting reporting deadlines for businesses across the United States. Following a December 23, 2024 decision by the Fifth Circuit, FinCEN has extended compliance deadlines for reporting companies. Shareholder Blake Cooper breaks down what you need to know before the deadline quickly approaches. Learn more: https://lnkd.in/gu38EpxB #Buchalter #CTA #Compliance #FinCEN #BusinessLaw

Save 📌 and Share with 3 people 👥 🚨 Attention entity owners! If you want to avoid hefty fines from FinCEN, here are the six criteria your unused entity must meet: 1️⃣ Existing before Jan 1, 2020 ✅ 2️⃣ Not conducting active business 🛑 3️⃣ No foreign ownership 🌍 4️⃣ No change in ownership in the last 12 months ↔️ 5️⃣ Transactions under $1,000 in the past year 💰 6️⃣ No assets, interests, or holdings anywhere 🚫 Make sure your entity ticks all these boxes to stay clear of financial headaches! #Compliance #FinCEN #EntityManagement https://lnkd.in/dyC486uv Give this post a Like 👍 Follow us on Insta: ms.trusts411 🙌 Let's connect on LinkedIn 🤝 DM for Trust Planning 💵 Email: trusts@legacytaxadvisorsllc.com Website: legacytaxadvisorsllc.com --- Register to join our FREE trust webinar this FRIDAY at 10:30am EST, Securing your Legacy - The Advantages of Trusts in Estate Planning 💻 Registration Link: https://lnkd.in/dPxGds2n If you can't attend, DM your email address for the webinar recording 🙌