Kutak Rock partners Marc Lieberman and Lisa Sarver authored an article, "Must Corporations Whose Shares are Owned by Government Retirement Systems Report Such Ownership Under the New Corporate Transparency Act?" for the April 2021 issue of The NAPPA Report, the official publication of the National Association of Public Pension Attorneys.

Congress recently passed the Corporate Transparency Act (The “Act”), the most stringent anti-money laundering law passed in over a decade. In the article, Mr. Lieberman and Ms. Sarver examine the Act which requires corporations, limited liability companies, and “other similar” entities to disclose certain information about their beneficial owners.

According to the article, “Most government retirement systems own interests in both publicly traded and privately traded corporations and limited liability companies. The question then becomes whether the companies whose shares are owned by such systems must report the systems’ beneficial ownership under the Act.” The authors examine why such disclosure should not be required and urge NAPPA to form a task force dedicated to lobbying Treasury to clearly specify in the Act’s implementing regulations that companies are not required to report the interests of government retirement systems under the Act.

Read the article from Mr. Lieberman and Ms. Sarver in The NAPPA Report.

As Chair of the Firm’s Institutional Investments Group, Mr. Lieberman’s practice focuses on the representation of institutional investors in connection with their alternative investments. 

Ms. Sarver chairs Kutak Rock’s Omaha Corporate Finance Group and focuses her practice on the representation of public and private companies in the areas of mergers and acquisitions, divestitures, recapitalizations, restructurings, financings and a wide range of corporate governance and other regulatory matters.