News & Analysis as of

Proposed Rules Reporting Requirements Penalties

Chambliss, Bahner & Stophel, P.C.

Treasury Department Will Not Enforce Corporate Transparency Act Against U.S. Businesses

After months of uncertainty, legal challenges, and changing deadlines under the Corporate Transparency Act (CTA), the Treasury Department issued a press release on March 2, 2025, stating that it would not enforce any...more

Schwabe, Williamson & Wyatt PC

Treasury Pauses Penalties for Corporate Transparency Act

On March 2, 2025, the U.S. Treasury Department announced that it currently does not intend to enforce any penalties or fines associated with any current reporting deadlines under the Corporate Transparency Act (CTA) or the...more

McDermott Will & Emery

Corporate Transparency Act Penalties Suspended; New Rulemaking Proposed

On March 2, 2025, and February 27, 2025, the US Department of the Treasury (Treasury) and the Financial Crimes Enforcement Network (FinCEN), a bureau of the Treasury, made significant announcements regarding the Beneficial...more

Neal, Gerber & Eisenberg LLP

Treasury Limits CTA Enforcement to Foreign Companies

On March 2, 2025, the Treasury Department expanded the scope of FinCEN’s February 27, 2025 statement that it will not enforce any penalties or fines under the Corporate Transparency Act with respect to existing regulatory...more

McGlinchey Stafford

Treasury Suspends CTA BOI Reporting Penalties for U.S. Companies, Individuals

McGlinchey Stafford on

On Sunday, March 2, 2025, the U.S. Department of Treasury announced, with respect to the Corporate Transparency Act (CTA), that it will not enforce penalties or fines for beneficial ownership information (BOI) reporting...more

Snell & Wilmer

The Corporate Transparency Act Update: A Reprieve for American Businesses?

Snell & Wilmer on

In another twist as to the future of the Corporate Transparency Act’s (CTA) implementation and judicial intervention, on February 27, 2025, the Financial Crimes Enforcement Network (FinCEN) announced that it will not be...more

Foley & Lardner LLP

FinCEN Not Issuing Fines or Penalties in Connection with Beneficial Ownership Information Reporting Deadlines for Now

Foley & Lardner LLP on

FinCEN announced that it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership information (BOI) reports pursuant to the...more

Davis Wright Tremaine LLP

Commerce Department Proposes Cybersecurity/AI Reporting and "KYC" Requirements for Certain Cloud Providers

The U.S. Department of Commerce's ("Commerce") Bureau of Industry and Security ("BIS") has issued a proposed rule (the "Proposed Rule") that would impose significant diligence, reporting, and recordkeeping requirements on...more

Akin Gump Strauss Hauer & Feld LLP

Commerce Issues Proposed Rule on “Malicious Cyber-Enabled Activities” and Artificial Intelligence

On January 29, 2024, the Department of Commerce’s Bureau of Industry and Security (BIS) issued a proposed rule (the Proposed Rule) that would impose significant know-your-customer (KYC), monitoring and reporting obligations...more

Goodwin

Draft Implementing Rules of China’s Human Genetic Resources Regulations as Applied to Foreign Persons

Goodwin on

The Administrative Regulations of the People’s Republic of China on Human Genetic Resources (the “Regulations”), promulgated by China’s State Council, have been in effect for almost three years. As the administrative...more

Fisher Phillips

Your Comprehensive Guide to 2018 Proposed California Legislation

Fisher Phillips on

February 16 was the deadline to introduce new bills in the California Legislature. By that date, nearly 2,200 bills were introduced. While that may seem like a staggering amount of legislative proposals (especially for a...more

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