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I’ve told her, “Hey, I need you to make visuals of these workflows and really walk through it with advisors and CSAs and associate advisors so that we’re not missing anything from compliance, we’re giving the client experience that we want to be giving.” And then we look at estate planning. Cean: Yeah.
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The CTA seeks to pull smaller shell companies and holding companies into the regulatory framework, which means the brunt of CTA compliance falls on smaller businesses. LP has formed the CTA Task Force to consult on these burgeoning issues of FinCEN compliance and complexities of beneficial ownership.
Source: How a reimagined tax and finance function can improve your bottom line, EY 2020. According to the survey, businesses are seeking a model that balances different priorities that transcend routine compliance tasks.
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