Samantha Sigelakis-Minski

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Articles

Déjà Vu All Over Again: Fifth Circuit Vacates Its Own Stay; CTA Compliance Is Now Optional Once Again (For Now)

Jan 6, 2025 | mondaq.com | Robert Johnston |Melissa Wiley |Paula Ladd |Samantha Sigelakis-Minski

In a surprise ruling, yesterday the Fifth Circuit Court ofAppeals vacated its own stay of the Eastern District of Texas'Dec. 3 nationwide preliminary injunction enjoining enforcement ofthe Corporate Transparency Act (CTA).1 On Dec. 23, thatDec.
Investment Advisers Prepare: The BSA Is Here

Sep 3, 2024 | mondaq.com | Scott Moss |Paula Ladd |Samantha Sigelakis-Minski |Robert Johnston

On August 28, the United States Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) issued a final rule (the "Final Rule") subjecting certain registered investment advisers (RIAs) and exempt reporting advisers registered with the Securities and Exchange Commission (SEC) (ERAs; collectively with RIAs, Investment Advisers)1 to the anti-money laundering (AML) and countering the financing of terrorism (CFT) requirements of the Bank Secrecy Act and its amendments (BSA).2...
Government, Public Sector

Sep 3, 2024 | mondaq.com | Paula Ladd |Samantha Sigelakis-Minski |Robert Johnston |Ryan Fennell

LS Lowenstein Sandler More Lowenstein Sandler is a national law firm with over 350 lawyers working from five offices in New York, Palo Alto, New Jersey, Utah, and Washington, D.C. We represent clients in virtually every sector of the global economy, with particular strength in the areas of technology, life sciences, and investment funds.
Investment Advisers Beware: The BSA Is Coming (Maybe)

Feb 23, 2024 | mondaq.com | Robert Johnston |Paula Ladd |Ryan Fennell |Samantha Sigelakis-Minski

The United States Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) has issued a notice of proposed rulemaking (NPRM) that would subject registered investment advisers (RIAs) and exempt reporting advisers (ERAs; collectively with RIAs, Investment Advisers)1 to the anti-money laundering (AML) and countering the financing of terrorism (CFT) requirements of the Bank Secrecy Act (BSA).2 As discussed in our prior Client Alert,3 FinCEN previously advised that an NPRM...
U.S. Treasury Renews Push To Make Investment Advisers Subject To The BSA

Feb 1, 2024 | mondaq.com | Robert Johnston |Paula Ladd |Jimmy Kang |Samantha Sigelakis-Minski

To print this article, all you need is to be registered or login on Mondaq.com. The United States Department of the Treasury (U.S. Treasury) announced that it aims to publish a proposed rule in early 2024 (the 2024 NPRM) that would subject investment advisers to the anti-money laundering (AML) requirements of the Bank Secrecy Act (BSA).1 This is not the first time that lawmakers have attempted to bring investment advisers into the ambit of the BSA.
Governor Signs New York LLC Transparency Act Into Law

Jan 21, 2024 | mondaq.com | Robert Johnston |Melissa Wiley |Paula Ladd |Samantha Sigelakis-Minski

On Dec. 22, New York Governor Kathy Hochul signed the New York Limited Liability Company Transparency Act (NY LLC Transparency Act) into law.1 The NY LLC Transparency Act is modeled on the Corporate Transparency Act (CTA), a federal law aimed at tackling tax evasion and financial crimes, that took effect Jan. 1.2 We discussed how companies can prepare for the CTA in a prior Client Alert and explained the CTA Final Rule and its requirements in a subsequent Client Alert.
About Time: FinCEN Extends Deadline For New Companies Reporting Beneficial Ownership Information

Dec 7, 2023 | mondaq.com | Robert Johnston |Melissa Wiley |Paula Ladd |Samantha Sigelakis-Minski

On November 29, 2023, the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) issued a final rule (RIN 1506-AB62)1, extending the deadline for companies created or registered in 2024 to file beneficial owner information (BOI) reports with FinCEN from 30 calendar days to 90 calendar days.
Keys To Robust AML Programs At Private Funds

Aug 18, 2023 | law360.com | Scott Moss |Jimmy Kang |Samantha Sigelakis-Minski

By Scott Moss, Jimmy Kang and Samantha Sigelakis-Minski (August 18, 2023, 5:31 PM EDT) -- U.S. hedge funds, private equity funds and venture capital funds, and their U.S. general partners, sponsors and managers are not directly subject to the Bank Secrecy Act of 1970 and its amendments.... A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence.
Bipartisan Bill Seeks To Delay FinCEN's Beneficial Ownership Reporting Requirements

Aug 15, 2023 | mondaq.com | Robert Johnston |Paula Ladd |Jimmy Kang |Samantha Sigelakis-Minski

On August 1, a bipartisan bill was introduced to modify the Corporate Transparency Act (CTA).1 The Protect Small Businesses and Prevent Illicit Financial Activity Act (H.R. 5119)2 was introduced in the U.S. House of Representatives by Zachary Nunn, R-Iowa, and Joyce Beatty, D-Ohio, the senior Democrat on the House Financial Services Subcommittee on National Security, Illicit Finance and International Financial Institutions.