How Did We Get Here?
The Corporate Transparency Act (CTA) went into effect on January 1, 2024, and was enacted as part of the Anti-Money Laundering Act of 2020....more
The Financial Crimes Enforcement Network (FinCEN) issued a notice confirming that beneficial ownership information (BOI) reporting rules are back in effect following a February 18, 2025, ruling in Smith, et al. v. U.S....more
On January 23, 2025, in the case of Texas Top Cop Shop, Inc., et al. v. Garland, et al., the Supreme Court of the United States (SCOTUS) granted the government the ability to lift the injunction which halted enforcement of...more
As reported in our prior alerts, the case of Texas Top Cop Shop, Inc., et al. v. Garland, et al., has taken business owners on a roller coaster ride over the past month.
December 3, 2024: The U.S. District Court for the...more
On December 27, 2024, a different panel of the U.S. Court of Appeals for the Fifth Circuit issued an order vacating the earlier order of December 23, 2024, granting a stay of the preliminary injunction. For more detail and...more
12/30/2024
/ Beneficial Owner ,
Business Entities ,
Business Ownership ,
Compliance ,
Corporate Transparency Act ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Requirements ,
Reporting Requirements ,
Stays
On December 23, 2024, the Fifth Circuit Court of Appeals granted the Department of Justice’s motion to lift the December 3, 2024 injunction issued by the U.S. District Court for the Eastern District of Texas in Texas Top Cop...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
On December 3, 2024, in the case of Texas Top Cop Shop, Inc., et al. v. Garland, et al., the U.S. District Court for the Eastern District of Texas granted a nationwide preliminary injunction blocking enforcement of the...more
On December 4, 2024, four of the five members of the Five Eyes intelligence-sharing group (the United States, Australia, Canada, and New Zealand) law enforcement and cyber security agencies (Agencies) published a joint guide...more
The U.S. Congress enacted the Corporate Transparency Act (CTA) to establish and maintain a national registry of beneficial owners of entities that are considered to be “reporting companies.” Historically, the U.S. has lagged...more
Since the Corporate Transparency Act took effect on January 1, 2024, scammers have seized the opportunity to send notices to owners of recently formed companies offering “filing services.” In response to these scams, FinCEN...more
5/1/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Beneficial Owner ,
Corporate Transparency Act ,
Corruption ,
Financial Crimes ,
FinCEN ,
National Security ,
Popular ,
Regulatory Requirements ,
Reporting Requirements ,
Scams ,
Tax Evasion
Beginning January 1, 2024, certain privately held companies, known as “reporting companies,” will be required to file a Beneficial Ownership Information (BOI) Report to identify, and provide personal information about, their...more
11/7/2023
/ Anti-Corruption ,
Anti-Money Laundering ,
Beneficial Owner ,
Corporate Transparency Act ,
Corruption ,
Financial Crimes ,
Financial Regulatory Reform ,
FinCEN ,
National Security ,
Regulatory Requirements ,
Reporting Requirements ,
Shell Corporations
On October 5, 2023, the Brookings Institution hosted an event entitled “A conversation with FTC Chair Lina Khan and DOJ Assistant Attorney General Jonathan Kanter on antitrust enforcement.” The discussion was moderated by the...more
American companies and others outside the European Union (EU) pursuing large M&A transactions and public tenders in the EU’s single market must now comply with a new regulation. Effective July 12, 2023, the Foreign Subsidies...more
CYBERSECURITY -
Patch Adobe ColdFusion Vulnerabilities Being Exploited in the Wild ASAP -
Adobe has issued alerts on three vulnerabilities affecting its ColdFusion product. The first alert, issued on July 11, 2023,...more
7/24/2023
/ Adobe ,
Artificial Intelligence ,
Cyber Attacks ,
Cybersecurity ,
Cybersecurity Framework ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
Drones ,
EU ,
Hackers ,
Machine Learning ,
Vulnerability Assessments
Companies pursuing acquisitions that require a filing in the United States under the Hart-Scott-Rodino Act (HSR) may, by year-end, face vastly expanded disclosure requirements necessitating far greater investments in time,...more
On July 10, the European Commission (EC) published its data adequacy decision for the new EU-U.S. Data Privacy Framework (EU-U.S. DPF). This means that companies can transfer personal data from EU countries and from Iceland,...more
CYBERSECURITY FBI, CISA + MS-ISAC Warn of LockBit 3.0 Ransomware The FBI, CISA and the Multi-State Information Sharing and Analysis Center (MSISAC) recently released a joint cybersecurity advisory, warning organizations about...more
3/24/2023
/ Artificial Intelligence ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
FBI ,
Hackers ,
Homeland Security Cybersecurity & Infrastructure Security Agency (CISA) ,
TikTok ,
Vulnerability Assessments
Chinese company ByteDance faces growing concerns from governments and regulators that its user data from its popular short video-sharing app TikTok could be handed over to the Chinese government. The concern is based on...more
3/3/2023
/ Biden Administration ,
China ,
Data Collection ,
Data Privacy ,
Mobile Apps ,
National Security ,
Popular ,
Proposed Legislation ,
Regulatory Agenda ,
Social Media ,
TikTok
CYBERSECURITY -
Joint Advisory Outlines Attacks by Daixin Team -
The Cybersecurity & Infrastructure Security Agency, the FBI and the U.S. Department of Health & Human Services released a Joint Advisory last week warning...more
11/4/2022
/ Biometric Information ,
California Consumer Privacy Act (CCPA) ,
California Privacy Rights Act (CPRA) ,
Cyber Attacks ,
Cyber Threats ,
Cybersecurity ,
Data Privacy ,
Data Protection ,
Employee Monitoring ,
EU-US Privacy Shield ,
Popular ,
Ransomware ,
Vulnerability Assessments
President Biden recently signed an executive order establishing the implementation of the new EU-U.S. Data Privacy Framework, which would provide for the possibility of the lawful transfer of personal data from the European...more
11/4/2022
/ Biden Administration ,
Court of Justice of the European Union (CJEU) ,
Cybersecurity ,
Data Protection ,
EU ,
EU-US Privacy Shield ,
Executive Orders ,
International Data Transfers ,
Personal Data ,
Personally Identifiable Information ,
Regulatory Agenda ,
Regulatory Reform ,
Schrems I & Schrems II
CYBERSECURITY -
Second Security Directive Issued by TSA to Pipeline Operators -
The U.S. Transportation Security Administration (TSA) issued its second Security Directive to the pipeline industry on July 20, 2021,...more
7/23/2021
/ Customs and Border Protection ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Drones ,
FBI ,
Hackers ,
Infrastructure ,
Location Data ,
NASA ,
Olympics ,
Pipelines ,
Ransomware ,
TSA
Location data is data that marks the longitude/latitude location of a smartphone or other device at a particular time, or over a period of time. It works like this: each day our device, which has a unique identifier or ID,...more
CYBERSECURITY -
Tulsa, OK Refuses to Pay Ransom to Attackers -
The City of Tulsa, Oklahoma, announced on May 9, 2021, that it had been hit with a ransomware attack, but the Mayor is resolute in not paying the demanded...more
Colonial Pipeline paid hackers a ransom of $4.4 million in bitcoin soon after discovering a cybersecurity hack on its systems that began on May 6. The company’s acknowledgement comes after days of speculation about whether a...more
CYBERSECURITY -
President Biden Signs Executive Order to Strengthen Cybersecurity for Federal Government Following Colonial Pipeline Attack -
President Joe Biden signed an Executive Order on Wednesday, May 12, 2021,...more
5/14/2021
/ Biden Administration ,
Critical Infrastructure Sectors ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Data Sellers ,
FBI ,
Hackers ,
Pipelines ,
Regulatory Agenda ,
Supply Chain