Spencer Fane attorney Ed Burdzinski recently authored an article for Show Me Banker Magazine, a Missouri Independent Bankers Association publication, detailing the first of three Final Rules for a set of new Corporate Transparency Act regulations.
In his article, Legal Eagle Spotlight: Beneficial Ownership Rules Update, Ed explained new updates from the Financial Crimes Enforcement Network (finCEN) to the Beneficial Ownership Rules (“BOR”) promulgated to improve financial transparency and deter illegal activity for various entities. Ed provided the BOR’s background, outlined the details and requirements of the first Final Rule, and noted that finCEN has two more Final Rules on the horizon.
“FinCEN’s Final Rule implementing the reporting of beneficial ownership information of reporting companies is just the first of three rulemakings in connection with the Corporate Transparency Act,” Ed said.
At Spencer Fane, Ed regularly delivers commercial loan documentation for financial institutions, including commercial construction, real estate, and asset-based credit facilities, with an understanding of the internal challenges facing his clients. He also negotiates with borrower representatives, title companies, and other parties, moving the transaction to closing while protecting the lender’s interests. His legal career spans more than three decades and includes 12 years as general counsel of a community bank, providing him with practical industry experience that informs his approach to client service.
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