Our Road to the World Cup Focus Group – RTWC2026 Focus Group, composed of Alan K. Fertel, Chad S. Friedman, Fabio Giallanza, Marlon A. Hill, Mitchell A. Bierman, and Nelson Slosbergas, was recognized for its innovative approach to providing professional assistance to clients preparing for the 2026 World Cup.

The RTWC2026 Focus Group will be at the forefront of the Firm’s efforts in assisting clients with their World Cup-related business activities. With its multilingual and multicultural team, the RTWC2026 Focus Group is well versed in serving domestic as well as international businesses and organizations in French, Italian, Mandarin Chinese, Portuguese, Spanish and Hebrew.

The firm’s RTWC2026 Focus Group will be honored at the DBR’s Florida Legal Awards event on April 4, 2024. 

To view the full list of honorees and finalists, click here.

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The World Cup will be held in 3 host countries: the United States, Mexico, and Canada from June 11 to July 19, 2026. As the largest FIFA World Cup with forty-eight (48) participating teams, the 2026 World Cup will draw millions of visitors and the support of numerous local and multinational sponsors.

Miami has been selected as one of 16 host cities in the United States and the Hard Rock stadium in Miami Gardens will be the venue for matches. Other locales in Miami-Dade County and around South Florida, including those surrounding major transportation hubs, universities, and other public venues, will benefit from the hosting of this international sporting event.

WSHC+B has a proven track record in assisting both public and private entities with the production and hosting of major sporting and cultural events in Miami and South Florida.  The focus group, named the Road to The World Cup – RTWC2026 Group, is composed of professionals practicing in the areas of governmental affairs, sports and entertainment, immigration, intellectual property, business transactions, labor & employment, and real property.

Attorneys at WSHC+B have represented event stakeholders and producers during various stages of event planning, promotion, and final production, including the challenges of balancing neighborhood quality of life and the economic impact of the events. WSHC+B attorneys have been involved with, in different capacities, major events such as Superbowls, NBA championships, Miss Universe, Formula 1 races, Art Basel Miami Beach, NASCAR, Miami Caribbean Carnival, international tennis tournaments, and the Miami International Boat Show, among others.

The RTWC2026 Group will be at the forefront of the Firm’s efforts in assisting clients with their World Cup-related business activities. With its multilingual and multicultural team, the RTWC2026 Group is well versed in serving domestic as well as international businesses and organizations in French, Italian, Mandarin Chinese, Portuguese, Spanish and Hebrew.

Clients may leverage the expertise of the RTWC2026 Group to receive assistance in such matters as participating in: 

• Logistics, permitting, and public space use agreements for major public events;
• Government procurement procedures and compliance matters;
• Negotiating sponsorship or endorsement agreements;
• Developing immigration plans for the movement of talent and personnel;
• Drafting international commercial contracts and strategic guidance for the licensing or leasing of real property for special events. 

About Weiss Serota Helfman Cole + Bierman, P.L.:

Weiss Serota Helfman Cole + Bierman, P.L. is a prominent Florida law firm serving corporate, governmental and individual clients with an integrated array of professional services including commercial litigation, land-use and real estate law, construction law, telecommunications law, labor and employment law, government law and governmental relations. The firm has offices in Miami, Ft. Lauderdale, Boca Raton, Tampa and Gainesville. For more information, visit www.wsh-law.com.?utm_source=rss&utm_medium=rss

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When the CTA became law, it gave the Secretary of Treasury a deadline of one year to implement its contents. The requirements of the CTA will be enforceable when final regulations become effective. On December 7, 2021, FinCEN issued proposed regulations (the “Proposed Regulations”) inviting comments until February 7, 2022.

When the comment period closed, FinCEN had received over 230 comments.

Who has an obligation to report?

Under the Proposed Regulations, all entities formed under the laws of a U.S. state or territory and all foreign entities registered to do business in a U.S. state or territory will have the obligation to report their beneficial ownership information.

The Proposed Regulations carve out several exceptions from the status of “reporting company.” Most significantly, entities with over 20 employees or more than $5,000,000 in gross revenue, as reflected in a federal income tax return, are not reporting companies.

In addition to disclosing beneficial ownership information, reporting companies will also have to disclose information about the “Company Applicant,” defined as the individual who files the document legally forming the entity, including any person who directs such filing. As a result, information on the decision-maker, along with information regarding who materially filed the organizational document (such as an employee of a law firm or corporate formation business), will have to be disclosed to FinCEN.

What is the content of a report?

The CTA requires disclosure of the following information for each beneficial owner of an entity:

(i) full legal name; (ii) date of birth; (iii) current, as of the date on which the report is delivered, residential or business street address

The CTA defines “beneficial owner” as any individual who, directly or indirectly, “(i) exercises substantial control over the entity; or (ii) owns or controls not less than 25 percent of the ownership interests of the entity.” The Proposed Regulations expanded on the notion of “substantial control” by indicating that substantial control can be expressed as “(1) service as a senior officer of a reporting company; (2) authority over the appointment or removal of any senior officer or the dominant majority of the board of directors (or similar body) of a reporting company; or (3) direction, determination, or decision of, or substantial influence over, important matters of a reporting company.”

It is important to note that the information required to be disclosed will not be publicly available. FinCEN will have to maintain this information confidential and limit its use and dissemination for law enforcement purposes.

When is a report due?

For newly formed entities, a beneficial ownership report is due within 14 days after formation. As to existing entities, initial reports will be due within 1 year after the implementation of FinCEN’s final regulations.

When previously-filed beneficial ownership information changes (for example, as a result of a transfer or death), reporting companies will have 30 days to file an updated report.

The CTA indicates that failure to provide a report will result in a civil penalty of up to $500 for each day of noncompliance plus a fine of up to $10,000. Noncompliance can trigger more severe criminal sanctions, including up to two years’ imprisonment.

How is a report filed?

In its December 7, 2021 notice of proposed rulemaking, FinCEN indicated that in addition to its significant regulatory effort, it is designing and building a new IT system — the Beneficial Ownership Secure System, or BOSS — to collect and provide access to beneficial ownership information. So, it is expected that the filing of beneficial ownership information reports will be electronic.

The issuance of final regulations by FinCEN and their effective date remains unclear at the moment. Presumably, FinCEN will wait to have the BOSS system up and running before launching the new reporting requirements.

The information contained in this document does not constitute legal advice.

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