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FCPA Compliance Report

FCPA Compliance Report – Jonathan Wilson on The NSBU Decision

Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance.

In this edition of the FCPA Compliance Report, Tom welcomes back Jonathan Wilson, one of the country’s top experts on the Corporate Transparency Act. We dissect the court decision in the case of the National Small Business Union, which invalidated the CTA and what it might mean for the law going forward.

Jonathan Wilson is a well-respected figure in corporate transparency and has established an impressive body of work around the Corporate Transparency Act. He is the founder of FinCEN Report, a company that helps businesses and others comply with the CTA.

Wilson’s perspective on the Act hinges on his understanding of its legal implications and practical considerations, warning companies that, despite a recent district court decision, they are still required to meet filing obligations. We take a deep dive into the court opinion, how it applied (or misapplied) US law and explain the need for continued compliance with the law.

Even with this court decision, Wilson’s advice is clear, companies must continue with compliance efforts and fulfill their reporting requirements, as delays will not alter the facts or obligations of the Act. The invalidation of the CTA is only applicable to the named plaintiff in the Northern District of Alabama so all others must continue to comply with the law.

Key Highlights:

  • CTA Overturned—Is Interstate Commerce Affected?
  • What is the US National Security Interest?
  • Beneficial Owner Disclosure in Money Laundering
  • Senate Ratification of International Treaties
  • Navigating Legal Compliance in Competitive Business Environment

 

Resources:

Jonathan Wilson on LinkedIn

FinCEN Report

National Small Business Union decision

Tom Fox

Instagram

Facebook

YouTube

Twitter

LinkedIn

 

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SBR - Authors' Podcast

SBR Authors Podcast: Jonathan Wilson on the Corporate Transparency Act

Welcome to the Sunday Book Review, the Authors Podcast! Don’t miss out on this episode of SBR-Author’s Podcast, where Tom sits down with Jonathan Wilson on his book The Corporate Transparency Act Compliance Guide.

Jonathan Wilson is a seasoned attorney specializing in middle market M&A and securities, with a particular emphasis on private offerings and working with startups and growing businesses. His perspective on the topic of FinCEN Report Company assists with Corporate Transparency Act compliance is shaped by his extensive experience in corporate compliance and his authorship of the Corporate Transparency Act Compliance Guide. Jonathan recognized the potential confusion the Act could cause for business owners and their lawyers, prompting him to write a comprehensive guide to help them identify beneficial owners and file the necessary reports. He also founded the FinCEN Report Company, an online filing service that aids businesses in meeting the reporting requirements of the Corporate Transparency Act. Join Tom Fox and Jonathan Wilson on this episode of the Sunday Book Review-Author’s Edition podcast to delve deeper into this topic.

Key Highlights Include:

  • Corporate Transparency Act Compliance Simplified
  • Combatting Money Laundering through Corporate Transparency
  • Exemptions Based on Company Size and Income
  • Formation Date-Based Reporting Deadlines
  • The Importance of Compliance Officer and Policy

Resources:

Jonathan Wilson on Linkedin

The FinCEN Report Company

The Corporate Transparency Act Compliance Guide

Tom Fox

Threads

Instagram

Facebook

YouTube

Twitter

LinkedIn

Categories
FCPA Compliance Report

FCPA Compliance Report – Jonathan Wilson on Simplifying Corporate Transparency

Welcome to the award-winning FCPA Compliance Report, the longest running podcast in compliance. In this episode, Tom Fox welcome Jonathan Wilson, lawyer and co-founder of the FinCEN Report Company which will simplify the process of filing beneficial ownership reports under the Corporate Transparency Act.

The Corporate Transparency Act, a bipartisan law passed in 2020 to combat corporate anonymity and money laundering in the US. The law requires companies to disclose personal information about individuals with ownership stakes or substantial control. The FinCEN Report Company offers an online filing engine for secure and easy report submission. This new tool facilitates collaboration between attorneys and clients, ensuring authorized access to information. The Corporate Transparency Act aims to protect the integrity of the financial system and prevent illicit activities by creating a database accessible to banks and law enforcement. Although the law’s implementation has been delayed, businesses need to prepare for initial beneficial ownership reports. The law is crucial in combating money laundering globally, aligning the US with Western Europe in anti-money laundering efforts and promoting international cooperation.

 Key Highlights

·      The FinCEN Report: Simplifying Corporate Transparency

·      Corporate Transparency Act and Law Firm Collaboration

·      Corporate Transparency Act Implementation

·      Challenges of Identifying Beneficial Owners

·      The Corporate Transparency Act: Combating Money Laundering

Resources

Jonathan Wilson on LinkedIn

The FinCEN Report Company

Tom Fox

Instagram

Facebook

YouTube

Twitter

LinkedIn