The Corporate Transparency Act is going to change dramatically the way that founders and investors in privately-held companies interact with each other. The CTA, once implemented, will require roughly 25 million U.S. companies to file a beneficial ownership report with FinCEN, the Financial Crimes Enforcement Network of the U.S. Treasury. Understanding how the CTA will change the interactions between founders and investors will allow attorneys to modify the contractual relations between those parties in anticipation of the CTA coming into effect.
What You Will Learn :
• The categories of personally-identifiable information (PII) required for each of the company’s “company applicants” and “beneficial owners.”
• Understanding who is a “company applicant”
• Understanding who is a “beneficial owner”
• How does “substantial control” of the reporting company relate to an individual’s status as a “beneficial owner”
• What are the 23 categories of companies that are exempt from filing a beneficial ownership report
• When is a company required to file its first beneficial ownership report
• When is a company required to amend its beneficial ownership report
• Model clauses for shareholder agreements and LLC operating agreements required for CTA compliance
Who Should Attend:
This course is designed for attorneys and paralegals who advise clients on the formation of corporations, partnerships and LLCs. The coursework relates to the preparation of shareholder agreements and LLC operating agreements and provides model clauses that relate to the corporate governance implications of the CTA.
Presenter Bios
Jonathan B. Wilson is an experienced business lawyer who enjoys solving complex business and transactional problems for clients. He applies his more than 30 years of experience as an in-house lawyer, business adviser and strategist to help business executives and owners achieve negotiated solutions to technology and financial transactions.
Mr. Wilson is a member of the firm’s Corporate and Business Department and his practice includes corporate securities, corporate finance and governance, mergers and acquisitions, and intellectual property. He represents Fortune 100, middle-market and start-up companies.
Mr. Wilson was the general counsel or chief legal officer of Interland Inc., Web.com Group Inc. and EasyLink Services International Corp., where he advised senior management and the boards of directors on U.S. Securities and Exchange Commission (SEC) reporting, NASDAQ compliance, Sarbanes-Oxley matters, corporate governance, governmental affairs, contracts, litigation, intellectual property and mergers and acquisitions.
Mr. Wilson spent the first 10 years of his career in private practice with large Atlanta law firms, including a leading international firm and one of the nation’s most prestigious corporate firms.
Mr. Wilson has represented both large and small companies in outsourcing, patent licensing, software licensing, distribution and strategic alliance agreements.
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