Stephen Quinlivan Quoted on Corporate Transparency Act Vulnerabilities in The International Consortium of Investigative Journalists Article
Minneapolis Partner Stephen Quinlivan was recently quoted in an International Consortium of Investigative Journalists (ICIJ) article on potential vulnerabilities in the recently-passed Corporate Transparency Act. This act will for the first time require millions of U.S. companies to report their true owners to the federal government for inspection, essentially banning anonymous shell companies that criminals frequently use to hide money.
The new law will exempt any firm that has more than $5 million in annual revenue, more than 20 employees, and a physical office in the U.S. Stephen commented on the fact that this exception covers most of his client base.
Steve practices primarily in the areas of mergers and acquisitions, REITs, sports law, securities and international transactions. He also has significant experience counseling boards of directors in corporate governance and liability-related issues. He is also a lead writer on Stinson’s Dodd-Frank blog.