On January 20, 2025, the Trump administration issued a suite of Executive Orders and memoranda signaling a dramatic shift in American energy and environmental policy. Collectively these actions, among a historically large array of “Day One” orders issued by the administration, aim to stimulate domestic energy production (with a focus on oil, natural gas, coal, hydropower, biofuels, critical minerals, and nuclear energy resources), expand energy transmission infrastructure, enlarge refining capacity, and streamline environmental permitting and review requirements for energy production and infrastructure projects while canceling Biden-era domestic climate policies, disengaging from international climate agreements, and curtailing leasing and permitting for offshore and onshore wind energy projects. Additional actions by President Trump on energy and environmental issues are expected, and legal challenges are practically certain as federal agencies take concrete steps to implement these directives. Babst Calland is tracking these matters closely and will issue future Alerts as significant developments arise. As always, Babst Calland attorneys are available to provide guidance on how these actions affect your business. To read the alerts, click here.
In recent weeks, significant developments have unfolded regarding the implementation of the Corporate Transparency Act and its beneficial ownership information (BOI) reporting requirements to the Financial Crimes Enforcement Network (FinCEN), which remain subject to a nationwide injunction. The ongoing legal challenges have left the status of the BOI reporting requirement in flux. For the time being, unless the Supreme Court intervenes, the nationwide injunction is likely to remain in place through at least March 25, 2025, the scheduled date for oral arguments before the Fifth Circuit. Businesses that have not yet complied with the reporting requirements should remain alert to any changes. Babst Calland will continue to closely monitor developments on this matter. To read the full alert author by Chris Farmakis, Susanna Bagdasarova, Kate Cooper, and Dane Fennell, click here.
In the previous Alert, Susanna Bagdasarova and Kate Cooper along with Chris Farmakis and Dane Fennell discussed the U.S. District Court for the Eastern District of Texas granted a nationwide preliminary injunction in Texas Top Cop Shop, Inc., et al. v. Garland, et al., temporarily halting enforcement of the Corporate Transparency Act (CTA) and its beneficial ownership information (BOI) reporting requirements, including the January 1, 2025, filing deadline. The ruling provided temporary relief to affected businesses, but a pending Department of Justice (DOJ) emergency motion to stay the injunction pending appeal has created further uncertainty. Babst Calland will continue to closely monitor developments on this matter. Please reach out to fincenassist@babstcalland.com or your Babst Calland client relationship lawyer if you have any questions.
In their recent alert Court Blocks Enforcement of the Corporate Transparency Act Nationwide Susanna Bagdasarova, Kate Cooper, Chris Farmakis and Dane Fennell discuss how the U.S. District Court for the Eastern District of Texas granted a nationwide preliminary injunction temporarily halting enforcement of the Corporate Transparency Act (CTA). With less than a month to go before the January 1, 2025 compliance deadline for entities formed prior to 2024, this ruling blocks the U.S. Department of Treasury from enforcing the requirements of the Beneficial Ownership Information Reporting Rule (the “Rule”) issued by the Financial Crimes Enforcement Network (FinCEN).
To read the full alert, click here.
In their recent alert Navigate the Current Uncertainty on FinCEN Matters with Chris Farmakis and Dane Fennell, Susanna Bagdasarova and Kate Cooper provide a reminder of the upcoming January 1, 2025 compliance deadline for the Financial Crimes Enforcement Network (FinCEN) Beneficial Ownership Information Reporting Rule (the “Rule”). Although it is currently being challenged in the courts, the compliance requirements and deadlines remain in effect for the majority of entities at this time. To view the full alert, click here.
In the span of five days, the U.S. Supreme Court issued three decisions with the potential to significantly alter the future of federal administrative law: Chevron is overruled; right to jury trial in many agency enforcement actions is guaranteed; and claim accrual date for Administrative Procedure Act claims are fixed. In this recent alert, U.S. Supreme Court Issues Three Decisions Charting New Path for Federal Administrative Law, Attorneys Gary Steinbauer, Jessica Deyoe and Joseph Schaeffer explain the implications of these decisions. To read the full alert, click here.
In their recent alert Navigate the Current Uncertainty on FinCEN Matters with Chris Farmakis and Dane Fennell, Susanna Bagdasarova and Kate Cooper discuss the Financial Crimes Enforcement Network (FinCEN) Beneficial Ownership Information Reporting Rule (the “Rule”) under the Corporate Transparency Act (CTA) and the uncertainty surrounding it and how Babst Calland is advising clients as we closely follow these developments. To read the full alert, click here.
In her recent alert The New Privacy Shield – European Commission Adopts the EU-U.S. Data Privacy Framework Ember Holmes discusses how the European Commission adopted the European Union-United States Data Privacy Framework (DPF), a decision concluding that the U.S. has adequate data privacy and security infrastructure in place for secure transfer of personal data from the European Economic Area into the U.S. Ms. Holmes encourages companies to take advantage of the streamlined DPF process, but advises to exercise caution when making changes to their data privacy and security practices, recognizing that the framework may not be here to stay. To read the full alert, click here.