The Corporate Transparency Act is undergoing significant updates, including an extension of reporting deadlines for certain filers affected by recent hurricanes. The Financial Crimes Enforcement Network (FinCEN) has announced that these extensions are crucial for businesses impacted by natural disasters, allowing them additional time to comply with the act's requirements. The act mandates that various entities disclose their beneficial ownership information to enhance transparency and combat illicit financial activities. Additionally, community banks are advised to consider subsidiary implications under the act, which is set to enforce a compliance deadline of January 1, 2025. Recent amendments to the Florida Securities and Investor Protection Act, effective October 1, 2024, also introduce key changes regarding private placement and institutional investor exemptions, further impacting the regulatory landscape for businesses in the state. Legal experts are urging companies to prepare for these upcoming changes, as they could significantly affect estate planning and contract execution with government officials.