March 6, 2024
Timely Takes Podcast: The Corporate Transparency Act’s Implications for Public Companies
In January, Liz shared this Locke Lord blog explaining why the “public company” exemption for the Corporate Transparency Act isn’t enough to insulate public companies from having to conduct a compliance review for all subsidiaries or investment entities and install new internal controls. And since public companies are unlikely to have benefited from the limited injunction in National Small Business United v. Yellen (N.D. Ala.; 3/24), preparing for CTA compliance is still necessary — for now — if and until there’s a national injunction or further guidance is provided.
In the latest Timely Takes Podcast, John speaks with Rob Evans and Ryan Last of Locke Lord for more on public company CTA compliance. In the podcast, Rob and Ryan discuss when the CTA applies, set forth the key dates and then identify tasks involved in preparing a public company for compliance with the CTA going forward, giving a framework that public company counsel may consider for CTA compliance.
– Meredith Ervine