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.