The U.S. Treasury Department has significantly scaled back the reach of the Corporate Transparency Act (CTA). Under a new interim final rule released by Financial Crimes Enforcement Network (FinCEN), U.S.-formed companies...more
The Corporate Transparency Act’s (CTA) reporting requirements are officially back in force, requiring non-exempt entities to disclose beneficial ownership information (BOI).
This week, a Texas federal court lifted the last...more
2/21/2025
/ Anti-Money Laundering ,
Beneficial Owner ,
Business Entities ,
Compliance ,
Corporate Transparency Act ,
Department of Justice (DOJ) ,
Enforcement ,
Enforcement Actions ,
Filing Deadlines ,
FinCEN ,
Regulatory Requirements ,
Reporting Requirements ,
Transparency
The Corporate Transparency Act’s (CTA) reporting requirements are officially back in force, requiring non-exempt entities to disclose beneficial ownership information (BOI). This week, a Texas federal court lifted the last...more
2/20/2025
/ Beneficial Owner ,
Compliance ,
Corporate Transparency Act ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Enforcement Actions ,
Filing Requirements ,
FinCEN ,
Penalties ,
Regulatory Requirements ,
Reporting Requirements
As the year-end filing deadline approached for the Corporate Transparency Act (CTA), we've seen a dizzying series of court rulings that put a freeze on any enforcement of the law with a preliminary injunction, then stayed...more
An appellate panel has stayed the nationwide injunction issued by a federal judge in Texas that halted enforcement of the Corporate Transparency Act (CTA). Hours later, the U.S. Financial Crimes Enforcement Network (FinCEN)...more
12/26/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Appeals ,
Beneficial Owner ,
Business Entities ,
Constitutional Challenges ,
Corporate Transparency Act ,
Filing Deadlines ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Requirements ,
Reporting Requirements ,
Stays ,
Time Extensions
The U.S. Department of Justice (DOJ) announced that it is appealing the nationwide injunction issued by a federal judge in Texas that halted enforcement of the Corporate Transparency Act (CTA) just a few weeks before the...more
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
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
9/17/2024
/ Beneficial Owner ,
CEOs ,
CFOs ,
Compliance ,
COOs ,
Corporate Dissolution ,
Corporate Transparency Act ,
Exemptions ,
Filing Deadlines ,
FinCEN ,
Reporting Requirements ,
Taxpayer Identification Number
Sunday’s joint statement by the Department of Treasury, the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) that all depositors of Silicon Valley Bank and Signature Bank of New York would have access to...more
On Friday morning, regulators closed Silicon Valley Bank (SVB), roiling the startup world and creating uncertainty about the availability of deposits and the availability of credit to its customers and borrowers. Unexpected...more
The Federal Trade Commission has issued an update to the Safeguards Rule that imposes a duty on financial institutions to protect consumer information they collect in the process of providing financial services.
In an...more
New guidance from the Small Business Administration (SBA) sheds light on questions that arise in the context of M&A transactions where one of the companies has secured a potentially forgivable loan through the Paycheck...more
The Small Business Administration (SBA) has opened the portal for applications for forgiveness of Paycheck Protection Program (PPP) loans established under the Coronavirus Aid, Relief and Economic Security Act (CARES Act)....more
Fox Rothschild’s Privacy and Data Security practice group maintains this searchable PDF document as well as the Data Breach 411 app to inform businesses of the breach notification statutes in each of the 50 states, Guam,...more
7/21/2020
/ Attorney General ,
Data Breach ,
Data Collection ,
Data Privacy ,
Data Protection ,
Data Security ,
Exceptions ,
Personal Information ,
Privacy Laws ,
Reporting Requirements ,
Safe Harbors
On Monday, June 8, 2020, the Federal Reserve Board announced changes to the Main Street Lending Program intended to allow a greater number of small and medium sized businesses to participate in the program. The Federal...more
Today, the Small Business Administration (SBA) issued additional guidance regarding the required good faith certification of need by borrowers under the Paycheck Protection Program (PPP), providing safe harbor to all...more
The National Credit Union Administration (NCUA) issued an Interim Final Rule on April 27, 2020, regarding the treatment of loans made by credit unions under the SBA’s Paycheck Protection Program (PPP), which was created as...more
Although much of the buzz around the CARES Act has been the financial relief it potentially offers to small businesses, states and municipalities could receive the financial assistance under the Act as well through the...more
On April 2, 2002, the Small Business Administration (SBA) issued an Interim Final Rule, adding to the guidance it issued previously with respect to the Paycheck Protection Program (PPP) contained in The CARES Act, which...more
The Small Business Administration (SBA) has released its guidance with respect to the Paycheck Protection Program (PPP) contained in The CARES Act, which authorizes up to $349 billion in forgivable loans to small businesses...more
Fox Rothschild’s Privacy and Data Security practice group maintains this searchable PDF document as well as the Data Breach 411 app to inform businesses of the breach notification statutes in each of the 50 states, Guam,...more
The burgeoning U.S. cannabis industry is reshaping the investment landscapes, and lenders should be prepared to recognize opportunities for growth. Medical marijuana has been approved in more than 30 states and about a third...more
New Jersey’s mortgage and property creditors must comply with new foreclosure provisions that accelerate title transfers and sales of abandoned properties and provide added protections for residential homeowners....more
Credit unions in the United States now have access to a new top-level domain – .creditunion – for websites named to match an existing registered trademark.
The “sunrise period” for the new domain runs from May 4 through...more