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BSA/AML Beneficial Ownership Rules - Webinar (Recorded)

  • Webinar

  • 65 Minutes
  • November 2023
  • Lorman Business Center, Inc.
  • ID: 5897123

Learn to navigate the landscape of beneficial ownership reporting, ensuring your company remains lawfully aligned with evolving regulatory demands.

Starting at the beginning of 2024, U.S. companies will have to report beneficial ownership information to the Financial Crimes Enforcement Network. The regulations governing beneficial ownership reporting can be complicated, particularly for companies with complex ownership structures, and the consequences for failing to report can be significant - even criminal. This presentation will help corporate executives and compliance officers understand the reporting obligations imposed upon reporting companies both in the U.S. and outside the U.S. Through the webinar, participants will gain an understanding of what companies must report, what companies are exempt from reporting, and what constitutes beneficial ownership. The presentation will go into detail on some of the complex questions created by the CTA, including what constitutes substantial control over a reporting company, and how companies should structure their compliance functions to best monitor their beneficial ownership and keep current on their reporting obligations.

Learning Objectives

  • You will be able to define the reporting company under the CTA, including key exemptions.
  • You will be able to describe who is considered a beneficial owner of a U.S. reporting company.
  • You will be able to explain the consequences for failing to report beneficial ownership.
  • You will be able to recognize ongoing compliance obligations.


Overview and History of the Corporate Transparency Act
  • Passage of the CTA as Part of the National Defense Authorization Act of 2021
  • Beneficial Ownership Reporting Around the World
  • Regulatory Requirements in the CTA
  • Overview of Key Cta Rulemakings
Reporting Obligations for U.S. Companies
  • Who Must Report
  • What Must Be Reported
  • When Must Companies Report
  • Consequences for Failure to Report
  • Who Can Access the Beneficial Ownership Information
Difficult Reporting Questions
  • What Constitutes Ownership of a Reporting Company
  • What Constitutes Substantial Control Over a Reporting Company
  • How Should Companies Prepare to Update Their Reporting Obligations
What’s Next
  • Additional Upcoming Rulemakings
  • Other Reports


  • Ian A. Herbert
  • Ian A. Herbert,
    Miller & Chevalier Chartered

    • Counsel at Miller & Chevalier Chartered in Washington, D.C.
    • Represents global companies, financial services companies, and executives through government investigations and related investigations, focusing on a range of issues such as bribery, tax fraud, money laundering, and financial crimes
    • Experienced engaging with the Department of Justice (DOJ), Securities and Exchange Commission (SEC), and other federal and state regulators
    • Represented more than a dozen bank employees in connection with investigations by the SEC and the Office of Comptroller of the Currency
    • Writes regularly on issues related to white-collar criminal enforcement and money laundering and is an editor of both the Executives at Risk newsletter, which reports on noteworthy cases and investigations impacting corporate executives, and the Money Laundering Enforcement Trends newsletter, which focuses on developments in money laundering regulation and enforcement
    • J.D. degree, New York University School of Law; B.A. degree, University of Michigan

Who Should Attend

This live webinar is designed for presidents, compliance officers, vice presidents, branch managers, business owners and managers, loan officers, loan department personnel, mortgage brokers,accountants, underwriters.