On March 21, FinCEN released a statement that echoes the U.S. Department of the Treasury’s announcement on March 2, removing all beneficial ownership reporting obligations for U.S. companies and persons under the Corporate...more
3/28/2025
/ Beneficial Owner ,
Business Entities ,
Business Ownership ,
Corporate Transparency Act ,
Filing Requirements ,
Final Rules ,
FinCEN ,
Foreign Entities ,
Interim Final Rules (IFR) ,
Reporting Requirements ,
U.S. Treasury
On February 19, 2025, FinCEN released a statement that BOI reporting obligations under the CTA are back in effect, after a recent U.S. District Court decision in the ongoing case of Smith et al. v. U.S. Department of the...more
2/20/2025
/ Beneficial Owner ,
Business Entities ,
Business Ownership ,
Compliance ,
Corporate Transparency Act ,
Data Privacy ,
Data Protection ,
Disclosure Requirements ,
Filing Deadlines ,
FinCEN ,
National Security ,
Regulatory Requirements ,
Reporting Requirements ,
U.S. Treasury
On Jan. 24, 2025, FinCEN released a statement (screenshot below) acknowledging that the Corporate Transparency Act (CTA) remains enjoined given yet another injunction that has relieved business owners across the nation from...more
On December 26, 2024, a merits panel of the Fifth Circuit Court of Appeals vacated the stay entered on December 23, 2024, by its own motions panel against the December 3, 2024, nationwide injunction of the Corporate...more
12/30/2024
/ Beneficial Owner ,
Business Entities ,
Business Ownership ,
Compliance ,
Corporate Transparency Act ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Requirements ,
Reporting Requirements ,
Stays
UPDATE: Main Reporting Deadline Extended to January 13, 2025 - On December 23, 2024, the Fifth Circuit issued an order granting a stay of the December 3 nationwide injunction against the Corporate Transparency Act (CTA) that...more
12/27/2024
/ Beneficial Owner ,
Business Entities ,
Business Ownership ,
Compliance ,
Corporate Transparency Act ,
Deadlines ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Requirements ,
Reporting Requirements ,
Stays
Once again, the Corporate Transparency Act (CTA) has been met with a judicial roadblock, this time being enjoined nationwide and declared “likely unconstitutional.” On Dec. 3, 2024, U.S. District Court Judge Amos L. Mazzant...more
The Financial Crimes Enforcement Network (FinCEN) recently announced plans to provide relief to victims of recent hurricanes and natural disasters, including Hurricane Helene. FinCEN is providing an additional six months to...more
10/30/2024
/ Anti-Money Laundering ,
Beneficial Owner ,
Corporate Transparency Act ,
Filing Deadlines ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Hurricane Season ,
Money Laundering ,
Relief Measures ,
Reporting Requirements
Since we’re closing in on the end of 2024, we want to provide this update to our clients concerning the upcoming reporting deadline under the Corporate Transparency Act (CTA). If your entity was created or registered to do...more
In a notice issued by FinCEN on March 4, 2024, the regulator advised that it will “comply with the court’s order for as long as it remains in effect” and will not enforce the CTA against the named plaintiffs in the instant...more
Pursuant to the Corporate Transparency Act (CTA), certain “Regulated Entities” must now file information concerning their beneficial ownership information (BOI) with the Financial Crimes Enforcement Network (FinCEN) so that...more
Pursuant to the Corporate Transparency Act (CTA), certain “Regulated Entities” must now file information concerning their beneficial ownership information (BOI) with the Financial Crimes Enforcement Network (FinCEN) so that...more
In what amounts to a significant departure from centuries of precedent, millions of private companies will soon be required to file both initial and episodic disclosure reports regarding beneficial ownership and control with...more
In a recent decision, the Delaware Court of Chancery determined for the first time that corporate officers owe a duty of oversight under Delaware Law. The case, In re McDonald’s Corporation Stockholder Derivative Litigation,...more
3/24/2023
/ Board of Directors ,
Breach of Duty ,
Caremark claim ,
Corporate Culture ,
Corporate Officers ,
Duty of Oversight ,
Employee Misconduct ,
Employees ,
Fiduciary Duty ,
McDonalds ,
Sexual Harassment
Earlier this month, the SEC proposed an order that would exempt “Finders” — individuals who connect private issuers with accredited investors — from federal broker registration requirements, provided that certain conditions...more
On April 3, 2020, the Small Business Administration (SBA) released additional guidance regarding the determination of “affiliate” status for purposes of eligibility for the Paycheck Protection Program (PPP), one of the...more
On March 31, 2020, the Small Business Administration (SBA) released high-level guidance regarding the Paycheck Protection Program (PPP), one of the programs enacted as part of the Coronavirus Aid, Relief, and Economic...more
CARES ACT CONSIDERATIONS FOR EMERGING COMPANIES AND OTHER SMALL BUSINESSES: Congress provides immediate relief in the form of small business loan -
As the COVID-19 pandemic continues to take its toll in the United States,...more
In this era of pervasive government regulation there are a number of ways federal and state governments come into possession of sensitive private and commercial information. Given that the federal Freedom of Information Act...more