Congress recently enacted the Corporate Transparency Act, the most dramatic expansion of disclosure obligations of entities as to their ownership and control in two decades. Non-compliance can result in civil and criminal liability. The Act affects many of our clients. Lawyers, including law firms and in-house counsel, may be exposed to ethical issues and personal liability. Without implementing regulations, the Act’s scope is unclear. Clients and others will be seeking advice. What advice can we give them? Kevin Shepherd, a Partner at Venable, LLP discusses this new law and its implications.