News & Analysis as of

Statutory Authority FinCEN

Fox Rothschild LLP

Nationwide Injunction Halts Enforcement of the Corporate Transparency Act

Fox Rothschild LLP on

A federal judge in Texas has issued a preliminary injunction that blocks enforcement of the Corporate Transparency Act (CTA) just a few weeks before a year-end deadline that would require millions of businesses and corporate...more

Rivkin Radler LLP

Upset in the 11th Hour: Corporate Transparency Act Halted, for Now

Rivkin Radler LLP on

The Corporate Transparency Act (“the CTA”), a law enacted by Congress requiring certain business entities to disclose beneficial ownership information (a “BOI Report”) to FinCEN, went into effect on January 1, 2024, and...more

Kaufman & Canoles

The Corporate Transparency Act Injunction

Kaufman & Canoles on

On Tuesday, December 3, 2024, a judge in the U.S. District Court for the Eastern District of Texas granted a nationwide preliminary injunction precluding FinCEN from enforcing the Corporate Transparency Act (“CTA”) and its...more

Procopio, Cory, Hargreaves & Savitch LLP

CTA UPDATE: Federal Court Blocks Reporting Requirements Under the Corporate Transparency Act

A federal judge in Texas has issued a nationwide injunction temporarily halting the implementation of the Corporate Transparency Act (“CTA”), preventing U.S. businesses from being required to disclose their beneficial...more

Levenfeld Pearlstein, LLC

Texas Federal Court Temporarily Blocks Corporate Transparency Act Nationwide

On Tuesday, December 3, a Texas federal district court granted a nationwide preliminary injunction precluding FinCEN from enforcing the Corporate Transparency Act (CTA) and its implementing regulations. The CTA, which took...more

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - August 2024

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

Lowenstein Sandler LLP

OFAC Designates Tornado Cash as a Sanctioned Entity as Federal Government Continues to Increase Regulation of Decentralized...

Lowenstein Sandler LLP on

On Aug. 8, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned cryptocurrency mixer Tornado Cash for allegedly helping launder more than $7 billion worth of cryptocurrency over three years.1...more

Freeman Law

The FBAR (Report of Foreign Bank and Financial Accounts): Everything You Need to Know

Freeman Law on

What is the Report of Foreign Bank and Financial Accounts (FBAR)? Congress enacted the statutory basis for the requirement to report foreign bank and financial accounts in 1970 as part of the “Currency and Foreign...more

Nutter McClennen & Fish LLP

Bank Report: October 2019

Federal Banking Agencies Adopt Simplified Capital Calculation for Community Banks The federal banking agencies have issued a final rule that will simplify capital requirements for community banks by allowing them to adopt...more

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