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The Corporate Transparency Act: What You Need to Know Now

This is the slide deck for the presentation

The Corporate Transparency Act – Preparing for the Federal Database of Beneficial Ownership Information

The Anti-Money Laundering Act of 2020, which is part of the National Defense Authorization Act for Fiscal Year 2021 (“NDAA”) and includes the Corporate Transparency Act, became law effective with Congress’ override on January 1, 2021 of former President Trump’s veto of the NDAA. The Corporate Transparency Act requires certain business entities (each defined as a “reporting company”) to file, in the absence of an exemption, information on their “beneficial owners” with the Financial Crimes Enforcement Network (“FinCEN”) of the U.S. Department of Treasury (“Treasury”). The information will not be publicly available, but FinCEN is authorized to disclose the information: to U.S. federal law enforcement agencies, with court approval, to certain other enforcement agencies, to non-U.S. law enforcement agencies, prosecutors or judges based upon a request of a U.S. federal law enforcement agency, and with consent of the reporting company, to financial institutions and their regulators

The New Corporate Transparency Act: What You Need To Know

This is the PowerPoint slide deck for the presentation.

The Convergence of Artificial Intelligence and Distributed Autonomous Organizations: (Auto)Generating New Legal Issues

Artificial intelligence is all about decision-making. We use ChatGPT to let the computer decide what we want to say, or how we want to say it. We use other forms of AI to handle sometimes complex tasks without human intervention in a dynamic fashion that accommodates a given situation. Currently, however, DAOs employ “static” decision-making because the smart contracts (code) that makes up the DAO is immutably set on the blockchain, and thus the DAOs decision-making is intended to be determinative. This notion that DAOs are deterministic is an underlying assumption made by investors and legislatures when selecting or devising corporate forms for DAOs. However, technologically, there is nothing to prevent the combination of DAOs with AI, but that combination makes the DAO indeterminate and thus that combination calls into question the underlying assumptions implicit in current statutes.