Author:Sean McBride
It’s About to Get Much Harder to Launder Money
In January 2021, Congress passed the Corporate Transparency Act (CTA) as part of the Anti-Money Laundering Act of 2020. The CTA requires entities to list names and addresses connected to both the company and beneficial owners. Ultimately, the goal is to reduce the ease at which shell companies can be formed and used to launder money.
New Mental Health Parity Rules on the Horizon
On July 25, 2023, the Departments of Labor, Health and Human Services, and the Treasury (the agencies) proposed new rules placing heightened compliance standards on health insurers and plans regarding the use of Non-Quantitative Treatment Limitations (NQTLs) for mental health and substance abuse disorder (MHSUD) services. These new rules amend the current reporting requirements with the intent to establish ongoing reporting that more clearly demonstrates whether MHSUD services are provided in compliance with the law.