News & Analysis as of

Exemptions Compliance

Fox Rothschild LLP

The Clock Is Ticking on the Corporate Transparency Act's Year-End Deadline

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Have you or your professional advisers evaluated whether any entities you own, manage, or control are subject to the beneficial ownership reporting requirements of the Corporate Transparency Act (CTA)? If you've done so and...more

Holland & Knight LLP

The (Uncertain) Application of the Corporate Transparency Act to Tribal Entities

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The Financial Crimes Enforcement Network (FinCEN), a unit of the U.S. Department of the Treasury (Treasury Department) charged with administering the Corporate Transparency Act (the CTA), on Aug. 1, 2024, held a Tribal...more

Holland & Knight LLP

FinCEN Issues New Guidance on Reporting Company Filing Requirements

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The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) on July 8, 2024, issued additional FAQs1 providing guidance on Reporting Company filing requirements under the Corporate Transparency Act...more

Pillsbury Winthrop Shaw Pittman LLP

The EU’s AI Act: A Review of the World’s First Comprehensive Law on Artificial Intelligence and What This Means for EU and Non-EU...

The agreed text of the AI Act was published on July 12, 2024, essentially starting the clock on the legal deadlines contained in it. Its obligations will apply in tiered phases, with the first key obligations being enforced...more

BCLP

Retailers, Restaurants and Consumer Products Manufacturers Should Ensure Compliance With State EPR Laws

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Retailers with private label products, restaurants and consumer product manufacturers should consider whether they are subject to state extended producer responsibility (EPR) laws, and therefore should register with the...more

Skadden, Arps, Slate, Meagher & Flom LLP

FAQs About the FTC’s Broad New Ban on Noncompetes

When the Federal Trade Commission (FTC) issued its long-awaited final rule banning virtually all noncompete clauses between workers and employers, it also published 500-plus pages of commentary....more

Morrison & Foerster LLP

Amendment To QPAM Exemption

The Department of Labor (DOL) recently issued a final amendment (“Final Amendment”) to Prohibited Transaction Exemption (PTE) 84-14, which is otherwise known as the “QPAM Exemption.” The QPAM Exemption is a prohibited...more

Venable LLP

Colorado's Landmark AI Law: Essential Insights for Businesses

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On May 17, 2024, Governor Jared Polis signed into law Colorado Senate Bill 24-205 (SB205), pioneering a comprehensive regulatory framework for artificial intelligence (AI) systems....more

Womble Bond Dickinson

The Impact of the Corporate Transparency Act on Companies in a Captive Insurance Structure

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Captive insurance companies are likely exempt from filing a Beneficial Ownership Information (BOI) Report under the insurance company exemption to the Corporate Transparency Act (CTA). Likewise, companies that are owned by...more

Latham & Watkins LLP

Raising the Bar: DOL’s Amendment Sets Higher Standards for QPAM Qualification

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The DOL’s final amendment to the QPAM Exemption sets forth more rigorous compliance requirements and expands the circumstances of ineligibility, potentially affecting the operations and compliance procedures of investment...more

Goodwin

The SEC Amends the Internet Adviser Exemption

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On March 27, 2024, the US Securities and Exchange Commission (SEC) adopted amendments to Rule 203A-2(e) of the Investment Advisers Act of 1940 (the Advisers Act) (the Internet Adviser Exemption)....more

Stark & Stark

SEC Adopts Amendments to Modernize Internet Investment Adviser Registration Exemption

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On March 27, 2024, the Securities and Exchange Commission adopted amendments to modernize the rule for internet investment advisers relying on the exemption that qualifies them for SEC registration as smaller investment...more

Seward & Kissel LLP

DOL Finalizes Amendments to the QPAM Exemption – All QPAMs Must Take Action

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On April 3, 2024, the U.S. Department of Labor (DOL) published significant modifications to Prohibited Transaction Class Exemption 84-14 (the QPAM Exemption). The amendment becomes effective on June 17, 2024; however, certain...more

Bressler, Amery & Ross, P.C.

SEC Updates Internet Adviser Exemption

The U.S. Securities and Exchange Commission has adopted amendments to the increasingly utilized “internet adviser exemption.” The exemption, originally adopted in 2002, has fostered the utilization of digital platforms for...more

Barnea Jaffa Lande & Co.

MiCA and Reverse Solicitation

Non-EU or non-MiCA compliant entities that want to offer or provide crypto-asset services to clients in the EU must be aware of the newly drafted guidelines from the European Securities and Markets Authority (ESMA). The...more

Eversheds Sutherland (US) LLP

No longer in limbo - China’s CAC finalises new regulations regarding cross-border data flows

The much anticipated response to the Consultation initiated by the Cyberspace Administration of China (CAC) last September has finally arrived (read our earlier briefing here). Last Friday, the CAC ended months of speculation...more

BCLP

SEC Narrows Internet Adviser Registration Rule

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On March 27, 2024, the U.S. Securities and Exchange Commission (the “SEC”) adopted amendments to narrow its rule permitting certain internet investment advisers to register with the SEC (the “internet adviser exemption”). ...more

WilmerHale

China Finalizes Rules to Ease Data Export Compliance Burden

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On March 22, 2024, the Cyberspace Administration of China (“CAC”) promulgated the final version of the Provisions on the Promotion and Regulation of Cross-Border Data Flows (the “Final Provisions”), bringing to conclusion the...more

Benesch

FMCSR Waivers and Exemptions - Game Plan When You Can’t Strictly Comply

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Public safety on the roadways is the chief objective of the Federal Motor Carrier Safety Regulations (FMCSRs). Some safety and operations teams will from time to time encounter unique circumstances where strict compliance can...more

Venable LLP

Executive Order to Prevent Access to Americans' Bulk Sensitive Personal Data and Government-Related Data by Countries of Concern

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On February 28, 2024, the Biden Administration issued Executive Order (EO) 13873, focused on restricting certain transactions involving Americans' personal data, as well as sensitive government data, to specific countries....more

BCLP

FinCEN Proposes AML/CFT Rules for Investment Advisers

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On February 13, 2024, the U.S. Treasury Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rulemaking regarding a new proposed rule that would require certain investment advisers to apply anti-money...more

Whitman Legal Solutions, LLC

Rule 506 Offerings Continue to be Popular with Real Estate Companies

Like an accordionist, real estate sponsors often seek to be innovative. Cutting-edge opportunities like crowdfunding and online selling platforms call to them. However, based on statistics from the Securities and Exchange...more

Lippes Mathias LLP

Important Actions for Necessary Businesses and Entities Affected by the New Corporate Transparency

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Entities and Individuals Required to File a Report: Effective January 1, 2024, the Corporate Transparency Act (“CTA”) now requires a significant number of foreign and domestic businesses and entities in the United States...more

WilmerHale

Year In Review: 2023 BIPA Litigation Takeaways

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This post is part of a series of articles we are doing on 2023 data protection litigation trends. Since its enactment in 2008, Illinois’s Biometric Information Privacy Act (BIPA) has produced a wave of privacy-related...more

BCLP

Navigating the Corporate Transparency Act Maze

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With the Corporate Transparency Act (CTA) now in effect, it is crucial for privately held mid-sized and large companies to look into and re-examine their corporate structures to ensure compliance with the new law. While the...more

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