Bob Lamm, who leads Gunster’s Securities Law & Corporate Governance practice, recently spoke with Inc. regarding the Corporate Transparency Act (CTA), which is set to go into effect on January 1, 2024. The CTA requires companies to file a report with the U.S. Department of the Treasury identifying their individual beneficial owners, as part of a global effort to counter money laundering and terrorist financing.
Lamm notes it may be challenging for companies to initially adjust to the new rules. “The whole notion of providing beneficial ownership information is foreign to many companies,” he observes. Lamm also goes on to share what small businesses should be doing right now to prepare.
Bob Lamm chairs the Gunster’s Securities Law & Corporate Governance practice. Bob previously served as assistant general counsel and assistant secretary of Pfizer. His prior experience includes senior legal positions at W. R. Grace, CA Technologies, and Financial Guaranty Insurance Company. He also has extensive experience with small and mid-cap companies, as well as nonprofit entities. In addition to his role at Gunster, Bob is an independent senior advisor to the Deloitte Center for Board Effectiveness.
