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Mintz

Fifth Circuit Strikes Down Nasdaq “Show or Tell” Diversity Rules

Mintz on

On December 11, 2024, the Fifth Circuit, in a divided opinion following an en banc hearing, struck down the Nasdaq “show or tell” diversity rules. The Court concluded that the rules, some of which the majority described as a...more

ArentFox Schiff

Why the Congressional Review Act May Play a Major Role in Early Weeks of the Trump Administration

ArentFox Schiff on

There is significant potential that the Congressional Review Act (CRA) will play a prominent role in the early weeks of the Trump Administration. Below, we will break down what the CRA is, when it applies, and how it may be...more

Clark Hill PLC

Nationwide Injunction Halts Corporate Transparency Act Enforcement

Clark Hill PLC on

A U.S. District Judge issued a nationwide preliminary injunction prohibiting FinCEN from enforcing the Corporate Transparency Act (CTA) and the final rule implementing it (Reporting Rule) on Dec. 3 in the case Texas Top Cop...more

Dickinson Wright

Response to FinCEN Statement on Ongoing CTA Litigation

Dickinson Wright on

On December 3, 2024, a federal district court in the Eastern District of Texas issued an order granting a nationwide preliminary injunction against enforcement of the Corporate Transparency Act (CTA). Texas Top Cop Shop,...more

Arnall Golden Gregory LLP

TikTok on the Clock: What Brands Should Consider Pending a Potential TikTok Ban

Background - A potential ban of the popular social media app, TikTok, has been in the news for years, but recent events suggest that it may become reality for Americans in the coming weeks. On December 6, 2024, the U.S. Court...more

Alston & Bird

The D.C. Circuit’s TikTok Decision Could Portend Greater Regulation of Chinese-Owned Apps

Alston & Bird on

On December 6, 2024, the United States Court of Appeals for the D.C. Circuit upheld the constitutionality of the Protecting Americans from Foreign Adversary Controlled Applications Act (“Act”). The Act, signed into law by...more

Goulston & Storrs PC

Corporate Transparency Act— Nationwide Injunction Update and Key Considerations

Goulston & Storrs PC on

On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide injunction halting enforcement of the Corporate Transparency Act (“CTA”). In response, the U.S. Department of the Treasury’s...more

Baker Donelson

CTA Reporting Suspended Nationwide; FinCEN Responds

Baker Donelson on

On December 3, 2024, in Texas Top Cop Shop, Inc., et al. v. Garland, et al., Case No. 4:24-cv-478 (E.D. Tex.), the United States District Court for the Eastern District of Texas (the Court) issued a nationwide preliminary...more

Hogan Lovells

U.S. District Court suspends enforcement of Corporate Transparency Act (CTA) and FinCEN implementing regulations

Hogan Lovells on

On December 3, 2024, the U.S. District Court for the Eastern District of Texas suspended the enforcement of the U.S. Corporate Transparency Act (“CTA”) and its implementing regulations for “reporting companies” issued by the...more

Wiley Rein LLP

Corporate Transparency Act Update: Government Appeals Nationwide Injunction and Announces No Liability While Injunction Remains in...

Wiley Rein LLP on

On Thursday, December 5, 2024, the U.S. Department of Justice filed notice that it plans to appeal the nationwide injunction issued by the U.S. District Court for the Eastern District of Texas in Texas Top Cop Shop v....more

Baker Botts L.L.P.

Federal Court Preliminarily Enjoins Corporate Transparency Act and Implementing Regulations Nationwide

Baker Botts L.L.P. on

On December 3, 2024, Judge Amos L. Mazzant of the U.S. District Court for the Eastern District of Texas entered a nationwide preliminary injunction preventing the federal government from enforcing the Corporate Transparency...more

Parker Poe Adams & Bernstein LLP

Corporate Transparency Act: What the Nationwide Injunction and DOJ Appeal Means for Companies

On December 3, 2024, a Texas federal district court issued a preliminary injunction blocking enforcement of the Corporate Transparency Act (CTA). The Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) has...more

Proskauer - Regulatory & Compliance

The Corporate Transparency Act: The Government Appeals Preliminary Injunction. What To Do Now?

The Corporate Transparency Act (CTA) requires all corporations, limited liability companies, limited partnerships, and many other entities created or registered to do business in any U.S. state to file a beneficial ownership...more

Buchalter

Workplace Raids: A Guide for Employers on Your Rights and Responsibilities

Buchalter on

Incoming “border czar” Tom Homan said President-elect Trump’s administration will crank up workplace raids as part of its broader immigration crackdown. Speaking on “Fox & Friends” after the announcement of his...more

Snell & Wilmer

Is the Corporate Transparency Act Going To Be Brought Back to Life?

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On December 5, 2024, the Department of Justice (DOJ), filed a Notice of Appeal in response to a U.S. District Court’s recently issued, nationwide preliminary injunction stopping the reporting obligations under the Corporate...more

Allen Matkins

Why Is The FinCEN Continuing To Accept Beneficial Ownership Report Filings?

Allen Matkins on

Earlier this month, U.S. District Court Judge Amos L. Mazzant preliminarily enjoined the Corporate Transparency Act and its implementing regulations.  Texas Top Cop Shop, Inc. v. Garland, 2024 WL 4953814 (Dec. 03, 2024).  Two...more

Foster Garvey PC

Texas Court Halts Enforcement of the Corporate Transparency Act

Foster Garvey PC on

On December 3, 2024, U.S. District Judge Amos Mazzant of the Eastern District of Texas preliminarily enjoined the Corporate Transparency Act (“CTA”), 31 U.S.C. § 5336, nationwide and stayed the reporting deadline of January...more

Allen Barron, Inc.

Important News Regarding the Beneficial Owners Interest (BOI) Report

Allen Barron, Inc. on

There is important news regarding the Beneficial Owners Interest (BOI) report based upon a recent District Court decision in Texas. In the case of Texas Top Cop Shop, Inc., et al. v. Garland, et al., Case No. 4:24-cv-478,...more

Mayer Brown

In Brief: FinCEN Confirms Suspension of Corporate Transparency Act Filing Obligations During Nationwide Injunction

Mayer Brown on

On December 7, 2024, the US Financial Crimes Enforcement Network (FinCEN) confirmed that reporting companies—i.e., companies that would be required to report their beneficial ownership information to FinCEN under the...more

Coblentz Patch Duffy & Bass

Corporate Transparency Act Blocked Nationwide by Texas Court

On Tuesday, December 3, 2024, a Texas federal judge granted a preliminary injunction halting the continuing implementation of the Corporate Transparency Act (CTA) and its beneficial ownership information (BOI) reporting...more

Seyfarth Shaw LLP

FinCEN Acknowledges Nationwide Preliminary Injunction on CTA Enforcement – Voluntary Submission Only

Seyfarth Shaw LLP on

On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction in Texas Top Cop Shop, Inc., et al. v. Garland, et al., blocking enforcement of the Corporate...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - December 2024 # 2

Troutman Pepper on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Pillsbury - SeeSalt Blog

California OTA Denies Credit for NYC Business Taxes in Precedential Opinion

Pillsbury - SeeSalt Blog on

In the Appeal of Mather, the California Office of Tax Appeals (OTA) held in a precedential opinion that New York City’s (NYC) Unincorporated Business Tax (UBT) was not a tax “imposed by and paid to another state,” as required...more

McDermott Will & Emery

Massachusetts Implements Long-Awaited Licensing Regime for Out-of-State Pharmacies

McDermott Will & Emery on

Until recently, Massachusetts was the only state that did not maintain a licensing regime for nonresident pharmacies (i.e., out-of-state pharmacies shipping drugs into the state). On December 6, 2024, the Massachusetts Board...more

Troutman Pepper

Potential State-Centric Marijuana Policy in the 119th Congress

Troutman Pepper on

With power changing hands in Washington, D.C., what can marijuana industry members expect from the 119th Congress? Two GOP proposals from the 118th Congress may foreshadow the likely path for federal marijuana legalization....more

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