Company: EVCM
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001853145-25-000009
Chunk: 73

Company: EverCommerce Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 1A
Chunk 73
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 payment processors such as Worldpay, we must comply with certain laws. Our failure to comply could materially harm our business.

The local, state and federal laws, rules, regulations, licensing schemes and industry standards that govern our business include, or may in the future include, those relating to underwriting, foreign exchange, payments services (such as money transmission), anti-money laundering, combating terrorist financing, escheatment, international sanctions regimes and other applicable rules, regulations, and laws.

As we expand into new jurisdictions, the number of foreign laws, rules, regulations, licensing schemes and standards governing our business will expand as well. In addition, as our business and solutions continue to develop and expand, we may become subject to additional laws, rules, regulations, licensing schemes and standards. We may not always be able to accurately predict the scope or applicability of certain laws, rules, regulations, licensing schemes, or standards to our business, particularly as we expand into new areas of operations, which could have a significant negative effect on our existing business and our ability to pursue future plans.

Evaluation of our compliance efforts, as well as the questions of whether and to what extent our solutions and services could be considered money transmission, are matters of regulatory interpretation and could change over time. We have taken the position that in all cases where we do not participate in the authorization of transactions, flow of funds or settlement of funds, that a solution or service does not meet the definition of a “money service business” under the Bank Secrecy Act, 31 USC 5311 (and therefore we are not subject to the requirements set forth in the BSA and its implementing regulations). In the future, if regulators disagree with our position with respect to money transmission or other potentially applicable laws, including those related to money transmission, or if new guidance or interpretations thereof are issued, we could be subject to investigations and resulting liability, including governmental fines, restrictions on our business, or other sanctions, and we could be forced to cease conducting certain aspects of our business with residents of certain jurisdictions, be forced to change our business practices in certain jurisdictions, or be required to obtain licenses or regulatory approvals, including state money transmitter licenses. There can be no assurance that we will be able to obtain or maintain any such licenses, and, even if we were able to do so, there could be substantial costs and potential changes to our solutions or services involved in maintaining such licenses, which could have a material and adverse effect on our business. In addition, we could be subject to fines or