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The federal Corporate Transparency Act (CTA) is not the only legislation that became effective in 2024, requiring the disclosure of beneficial owners. On December 22, 2023, the New York LLC Transparency Act (NYLTA) was signed into law, aimed at pursuing unlawful activity, including wage theft and money laundering. Patterned after the CTA, the NYLTA...

Safety risk assessments are becoming a preferred regulatory tool around the world. Online safety laws in Australia, Ireland, the United Kingdom, and the United States will require a range of providers to evaluate the safety and user-generated content risks associated with their online services. While the specific assessment requirements vary across...

The Corporate Transparency Act (CTA) has the potential to significantly change the privacy landscape for family offices and other organizations. Passed on January 1, 2021, it established a set of beneficial ownership reporting rules that require compliance with certain disclosure rules regardless of whether “reporting companies” were established be...

As companies and service organizations increasingly use third-party service for outsourced services, there is more demand for a detailed understanding of the processes and controls of these third-party service providers. To show they have the right processes and internal controls in place, it’s crucial to provide a System and Organization Controls ...

At its core, the New York LLC Transparency Act (NYLTA) aims to bolster transparency and combat unlawful activities by requiring the disclosure of beneficial ownership information (BOI) by limited liability companies (LLCs) organized under or operating within New York. While the NYLTA was initially slated to take effect during 2024, an amendment has...

As tax strategy becomes more central than ever to business success, tax leaders must adopt new capabilities beyond those traditionally required to lead the tax function. Essential to this evolution is the ability to develop and execute a forward-looking tax roadmap that fully integrates emerging technologies such as artificial intelligence (AI). ...

Cryptocurrency has revolutionized the financial markets but also created tax traps for the unwary investor. Building on proposed regulations issued in 2023, the IRS has increased its oversight of cryptocurrency transactions by requiring brokers, beginning in 2025, to report investor sales and exchanges in connection with such transactions. Taxpayer...

The U.S. Securities and Exchange Commission (SEC) released the Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure Rules in August 2023, requiring registrants to provide and report timely information about their cyber risk so that investors can make informed investment decisions. With the rules in place, the SEC expects tha...

This report, which is rich with actionable data and insights from over 4,576 risk and human resource professionals, is your guide for a proactive, predictive, and disciplined approach to people risk management. It outlines key workforce threats under five pillars of risk—including technological change and disruption, health, well-being and safety, ...

Amid the growing excitement surrounding generative artificial intelligence (AI) and other emerging technologies, CFOs in asset management and banking remain keenly focused on the impact that these tools can have on their clients. AI is enabling asset management firms to provide investors with valuable insights from extensive datasets, assisting the...

For board members and non-executive directors, generative AI stands as a pivotal innovation that offers unprecedented opportunities to drive business value, improve productivity, reach broader audiences, streamline operations, and help address complicated global issues. However, it also raises complex business and ethical questions. To gain the ful...

For business owners and their advisors, it’s probably not surprising that buying another company or other assets requires moving with speed and diligence. But gaining an edge—and winning—on the buy side is a bit more complicated. Effective companies tend to deploy a series of purposeful tactics and avoid common mistakes when pursuing acquisitions. ...

If you’re a business owner of a registered entity such as a corporation, partnership, or LLC, or the trustee or beneficiary of a trust that owns such an entity, you may be subject to a reporting obligation under the Corporate Transparency Act (CTA) that was enacted on January 1, 2021. By mandating the disclosure of beneficial ownership information,...

For leaders of founder-owned businesses, raising significant capital without relinquishing control can seem challenging. But investors focused on non-control transactions are becoming more common. Non-control-oriented funds have boomed, fueling demand for minority recapitalizations and enabling business owners to maximize the valuation of their com...

Unless your entity qualifies for 1 of the 23 exemptions, all entities—including limited liability companies and limited partnerships—created prior to January 1, 2024 are required to file reports under the Corporate Transparency Act (CTA) by January 1, 2025. Willful violations can result in civil and criminal penalties for failure to comply with the...