News & Analysis as of

Exemptions Compliance

Burr & Forman

Corporate Transparency Act Filing Deadlines Approaching - What You Need to Know, Part II

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The Corporate Transparency Act (CTA) requires “reporting companies” to report certain beneficial ownership information (BOI) to the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) in order to enhance...more

Goodwin

EU Adopts Cyber Resilience Act for Connected Devices

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On October 10, 2024, the European Council officially adopted the Cyber Resilience Act (CRA), a regulation designed to ensure that products with digital features are secure to use and resilient against cyber threats, and that...more

BCLP

Recent SEC Enforcement Action Integrating Affiliated Advisers

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A recent Securities and Exchange Commission (“SEC”) settled enforcement action serves as an excellent reminder of the risk of operational integration to firms that operate multiple advisory entities, especially where one of...more

Seward & Kissel LLP

Client Reminder: September 30th Compliance Date for Amendments that Accelerate Initial and Amendment Deadlines for Schedule 13G...

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Seward & Kissel is reminding its clients regarding the September 30, 2024 compliance date for the SEC’s amendments to certain rules under the Securities Exchange Act of 1934 (the “Exchange Act”). The amendments accelerate the...more

Winstead PC

Update to the Qualified Professional Asset Manager Exemption

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The U.S. Department of Labor’s (the “DOL”) amendment to the qualified professional asset manager (“QPAM”) prohibited transaction class exemption 84-14 (the “Exemption”) went into effect on June 17, 2024. Current QPAMs must...more

Venable LLP

Minimizing De Minimis

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On September 13, the Biden-Harris administration announced new actions to address "significant increased abuse" in the use of the de minimis import exemption. The de minimis import exemption allows low-value shipments (i.e.,...more

Fox Rothschild LLP

The Clock Is Ticking on the Corporate Transparency Act's Year-End Deadline

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Have you or your professional advisers evaluated whether any entities you own, manage, or control are subject to the beneficial ownership reporting requirements of the Corporate Transparency Act (CTA)? If you've done so and...more

Holland & Knight LLP

The (Uncertain) Application of the Corporate Transparency Act to Tribal Entities

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The Financial Crimes Enforcement Network (FinCEN), a unit of the U.S. Department of the Treasury (Treasury Department) charged with administering the Corporate Transparency Act (the CTA), on Aug. 1, 2024, held a Tribal...more

Holland & Knight LLP

FinCEN Issues New Guidance on Reporting Company Filing Requirements

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The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) on July 8, 2024, issued additional FAQs1 providing guidance on Reporting Company filing requirements under the Corporate Transparency Act...more

Pillsbury Winthrop Shaw Pittman LLP

The EU’s AI Act: A Review of the World’s First Comprehensive Law on Artificial Intelligence and What This Means for EU and Non-EU...

The agreed text of the AI Act was published on July 12, 2024, essentially starting the clock on the legal deadlines contained in it. Its obligations will apply in tiered phases, with the first key obligations being enforced...more

BCLP

Retailers, Restaurants and Consumer Products Manufacturers Should Ensure Compliance With State EPR Laws

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Retailers with private label products, restaurants and consumer product manufacturers should consider whether they are subject to state extended producer responsibility (EPR) laws, and therefore should register with the...more

Skadden, Arps, Slate, Meagher & Flom LLP

FAQs About the FTC’s Broad New Ban on Noncompetes

When the Federal Trade Commission (FTC) issued its long-awaited final rule banning virtually all noncompete clauses between workers and employers, it also published 500-plus pages of commentary....more

Morrison & Foerster LLP

Amendment To QPAM Exemption

The Department of Labor (DOL) recently issued a final amendment (“Final Amendment”) to Prohibited Transaction Exemption (PTE) 84-14, which is otherwise known as the “QPAM Exemption.” The QPAM Exemption is a prohibited...more

Venable LLP

Colorado's Landmark AI Law: Essential Insights for Businesses

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On May 17, 2024, Governor Jared Polis signed into law Colorado Senate Bill 24-205 (SB205), pioneering a comprehensive regulatory framework for artificial intelligence (AI) systems....more

Womble Bond Dickinson

The Impact of the Corporate Transparency Act on Companies in a Captive Insurance Structure

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Captive insurance companies are likely exempt from filing a Beneficial Ownership Information (BOI) Report under the insurance company exemption to the Corporate Transparency Act (CTA). Likewise, companies that are owned by...more

Latham & Watkins LLP

Raising the Bar: DOL’s Amendment Sets Higher Standards for QPAM Qualification

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The DOL’s final amendment to the QPAM Exemption sets forth more rigorous compliance requirements and expands the circumstances of ineligibility, potentially affecting the operations and compliance procedures of investment...more

Goodwin

The SEC Amends the Internet Adviser Exemption

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On March 27, 2024, the US Securities and Exchange Commission (SEC) adopted amendments to Rule 203A-2(e) of the Investment Advisers Act of 1940 (the Advisers Act) (the Internet Adviser Exemption)....more

Stark & Stark

SEC Adopts Amendments to Modernize Internet Investment Adviser Registration Exemption

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On March 27, 2024, the Securities and Exchange Commission adopted amendments to modernize the rule for internet investment advisers relying on the exemption that qualifies them for SEC registration as smaller investment...more

Seward & Kissel LLP

DOL Finalizes Amendments to the QPAM Exemption – All QPAMs Must Take Action

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On April 3, 2024, the U.S. Department of Labor (DOL) published significant modifications to Prohibited Transaction Class Exemption 84-14 (the QPAM Exemption). The amendment becomes effective on June 17, 2024; however, certain...more

Bressler, Amery & Ross, P.C.

SEC Updates Internet Adviser Exemption

The U.S. Securities and Exchange Commission has adopted amendments to the increasingly utilized “internet adviser exemption.” The exemption, originally adopted in 2002, has fostered the utilization of digital platforms for...more

Barnea Jaffa Lande & Co.

MiCA and Reverse Solicitation

Non-EU or non-MiCA compliant entities that want to offer or provide crypto-asset services to clients in the EU must be aware of the newly drafted guidelines from the European Securities and Markets Authority (ESMA). The...more

Eversheds Sutherland (US) LLP

No longer in limbo - China’s CAC finalises new regulations regarding cross-border data flows

The much anticipated response to the Consultation initiated by the Cyberspace Administration of China (CAC) last September has finally arrived (read our earlier briefing here). Last Friday, the CAC ended months of speculation...more

BCLP

SEC Narrows Internet Adviser Registration Rule

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On March 27, 2024, the U.S. Securities and Exchange Commission (the “SEC”) adopted amendments to narrow its rule permitting certain internet investment advisers to register with the SEC (the “internet adviser exemption”). ...more

WilmerHale

China Finalizes Rules to Ease Data Export Compliance Burden

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On March 22, 2024, the Cyberspace Administration of China (“CAC”) promulgated the final version of the Provisions on the Promotion and Regulation of Cross-Border Data Flows (the “Final Provisions”), bringing to conclusion the...more

Benesch

FMCSR Waivers and Exemptions - Game Plan When You Can’t Strictly Comply

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Public safety on the roadways is the chief objective of the Federal Motor Carrier Safety Regulations (FMCSRs). Some safety and operations teams will from time to time encounter unique circumstances where strict compliance can...more

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