Tag: Beneficial Ownership

The world of finance is on the brink of a significant transformation, especially for investment advisors in the United States. On February 15th, 2024, a pivotal announcement was made by the Financial Crimes Enforcement Network (FinCEN) that is set to redefine the landscape of anti-money laundering (AML) and counter-financing of terrorism (CFT) compliance.

The European Union (EU) has made a significant leap forward in the fight against money laundering and terrorist financing with a provisional agreement on an anti-money laundering (AML) package. This agreement, pending full approval, is set to fortify the EU's financial system and protect its citizens by introducing sweeping changes across various sectors.

The European Union (EU) has recently made a significant stride in fortifying its defenses against money laundering and terrorist financing. A provisional agreement reached...

Big changes are sweeping through Europe's financial landscape, thanks to the introduction of stringent Anti-Money Laundering (AML) laws. These new regulations are particularly significant for high net worth individuals (HNWIs) and businesses in the luxury sector. The mandate? Heightened vigilance and transparency in financial dealings, aiming to curtail the misuse of funds.

The Corporate Transparency Act (CTA) ushered in a significant shift in beneficial ownership reporting requirements starting from January 1, 2024. This change is more...

In a recent post by Fenergo, the firm took a deeper look into the rules and requirements surrounding the area of beneficial ownership.

The role of AI has ballooned in recent years, and the recent introduction of GenAI platform ChatGPT has seen the sector soar further.

Moody's Analytics recently put a spotlight on the ongoing ultimate beneficial ownership (UBO) rule enhancements in the Asia Pacific region.