News & Analysis as of

Shell Corporations Final Rules

Akin Gump Strauss Hauer & Feld LLP

SEC Adopts Final Rules on SPACs, Shell Companies and Projections

The Securities and Exchange Commission (SEC) recently adopted final rules (available here; also see the fact sheet and press release) representing significant changes to  special purpose acquisition companies (SPACs), shell...more

Holland & Knight LLP

A Summary and Early Analysis of SEC Final SPAC Rules

Holland & Knight LLP on

By vote of 3 to 2, the U.S. Securities and Exchange Commission (SEC or Commission) on Jan. 24, 2024, adopted new rules and amendments (SPAC Rules) pertaining to special purpose acquisition companies (SPACs), with the stated...more

Dorsey & Whitney LLP

The SEC Amends Policy on Economic Projections, and Issues Final Rules and Additional Guidance for SPACs and Shell Companies

Dorsey & Whitney LLP on

The SEC on January 24, 2024 adopted final rules amending the disclosure and registration requirements applicable to special purpose acquisition companies (SPACs) and shell companies that register or file reports with the SEC....more

Mayer Brown

SEC Adopts Final Rules Relating to SPACs, Shell Companies and Projections

Mayer Brown on

On January 24, 2024, the U.S. Securities and Exchange Commission (the “SEC”) adopted new rules and amendments to existing rules and forms (the “Final Rules”) addressing (i) the treatment under the securities laws of special...more

Goodwin

SEC Adopts New Rules Applicable to SPACs, Shell Companies and Projections

Goodwin on

We previously noted in our March 31, 2022 alert that the U.S. Securities and Exchange Commission (SEC or Commission) held an open meeting on March 30, 2022 to consider proposed rules and amendments regarding special purpose...more

Holland & Knight LLP

FinCEN Issues Final Rule Implementing Access and Safeguard Provisions of the CTA

Holland & Knight LLP on

The Corporate Transparency Act (CTA) was enacted in 2021 and became effective on Jan. 1, 2024. The CTA was passed with the aim of enhancing transparency in corporate ownership, so as to combat the proliferation of anonymous...more

Morrison & Foerster LLP

FinCEN Publishes Final Rule for the Use of FinCEN Identifiers to Report Beneficial Ownership Information of Entities

Morrison & Foerster LLP on

On November 8, 2023, the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) published a final rule detailing when and how reporting companies can use another entity’s FinCEN identifier in place of...more

Harris Beach Murtha PLLC

FINCEN Issues Scam Alert Involving the Corporate Transparency Act

Harris Beach is warning business owners of a recent scam involving the Corporate Transparency Act (CTA). The Financial Crimes Enforcement Network (FinCEN) has issued an alert about fraudulent attempts to solicit information...more

White and Williams LLP

FinCEN Issues Final Rule Establishing Beneficial Ownership Reporting Requirements Under CTA

White and Williams LLP on

On September 29, 2022, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule (the Final Rule) establishing beneficial ownership information reporting requirements for non-exempt business...more

Cadwalader, Wickersham & Taft LLP

FinCEN’s Final Rule for Beneficial Ownership Reporting Requirements – You Can Run But You Can’t Hide

The Financial Crimes Enforcement Network (“FinCEN”) issued its final rule (“Rule”) to implement reporting requirements for beneficial ownership information on September 30, 2022. The Rule will, among other things, require...more

Bilzin Sumberg

Key Updates in the Transparency World for Private Clients

Bilzin Sumberg on

FinCEN Proposes the Second Installment to the Corporate Transparency Act - On December 15, 2022, the Financial Crimes Enforcement Network (“FinCEN”) issued a Notice of Proposed Rulemaking (the "Notice") in relation to the...more

Morrison & Foerster LLP

Beneficial Ownership Information: A Final Rule

Morrison & Foerster LLP on

On September 29, 2022, the Financial Crimes Enforcement Network (FinCEN) issued a final rule implementing beneficial ownership requirements for certain U.S. and foreign entities registered to do business in the United States,...more

Warner Norcross + Judd

Corporate Transparency Act: FinCEN Issues Final Rule for Beneficial Ownership Reporting

Warner Norcross + Judd on

Thursday, September 29, 2022, the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a Final Rule regarding the beneficial ownership reporting requirements under the Corporate Transparency Act...more

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