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The Corporate Transparency Act (“CTA”) became effective on January 1, 2024. The CTA requires numerous businesses operating in the U.S. to report to the United States Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) certain information about those natural persons who (1) exercise substantial control over the business and/or (2) directly or indirectly, own at least 25% of the ownership interests in the business. FinCEN will use this information in order to create a national, non-public database for use by certain federal and state security and law enforcement agencies in order to prevent the use of shell companies for illegal activities. The CTA will impact many businesses and all Chamber members will benefit from an understanding of the CTA and its compliance requirements. Updike, Kelly & Spellacy’s Michael Palmieri will be discussing the CTA during a webinar on April 3, 2024 from 8:30 am – 10:00 am.


Michael J. Palmieri is a Shareholder practicing in Updike, Kelly & Spellacy’s New Haven office. Mr. Palmieri has substantial experience representing small and medium sized companies on a wide variety of legal matters, including

Corporate and Project Finance, Corporate Governance and Compliance, Securities Regulation, Securities Transactions, Mergers and Acquisitions and Commercial Agreements. Mr. Palmieri is well versed with the legal intricacies and compliance requirements of the recently transacted Corporate Transparency Act. Prior to joining the Firm, Mr. Palmieri was the Senior Vice President, General Counsel and Secretary of a Connecticut-based wind energy company, where he was responsible for all legal matters.

Mr. Palmieri received his J.D. from the Duke University School of Law in Durham, North Carolina, and his B.A., cum laude, from the University of Pennsylvania in Philadelphia, Pennsylvania.

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