On April 8, 2025, President Trump issued an Executive Order titled “Protecting American Energy From State Overreach” (the “Executive Order”), which directs the United States Attorney General to identify and halt the...more
In a move that perhaps comes as no surprise, on March 27, 2025, the Securities and Exchange Commission (“SEC” or “the Commission”) issued Press Release 2025-58 announcing it had voted to end its defense of its climate-related...more
As we previously discussed and in alignment with the U.S. Treasury Department’s previous announcement, on March 21, 2025, the Financial Crimes Enforcement Network (“FinCEN”) issued an interim final rule that dramatically...more
The past few years have seen concerted efforts — both domestically and globally — advancing the reporting and disclosure of various climate- and sustainability-related metrics by businesses and investors. One of the most...more
3/25/2025
/ Compliance ,
Due Diligence ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Greenhouse Gas Emissions ,
Popular ,
Regulatory Requirements ,
Reporting Requirements ,
Supply Chain ,
Sustainability
On December 26, 2024, New York Governor Kathy Hochul signed the Climate Change Superfund Act (“CCSA” or the “Act”) into law. The law requires certain fossil fuel producers and refiners with sufficient connections to New York...more
On February 27, 2025, the Financial Crimes Enforcement Network (“FinCEN”) announced a suspension of enforcement actions related to the Corporate Transparency Act (“CTA”). This announcement means that reporting companies are...more
3/7/2025
/ Beneficial Owner ,
Compliance ,
Corporate Counsel ,
Corporate Transparency Act ,
Enforcement Actions ,
Filing Deadlines ,
FinCEN ,
Proposed Rules ,
Regulatory Requirements ,
Reporting Requirements ,
U.S. Treasury
On February 21, 2025, a federal judge issued a nationwide preliminary injunction that partially prevents the Trump administration from enforcing its executive orders on diversity, equity and inclusion (“DEI”). At issue were...more
As we previously discussed, on January 7, 2025, the U.S. District Court for the Eastern District of Texas issued a nationwide injunction delaying the implementation of the Corporate Transparency Act’s (“CTA”) reporting...more
On February 12, 2025, the Division of Corporate Finance (the “Staff”) of the U.S. Securities and Exchange Commission (the “SEC”) issued new guidance on Rule 14a-8 shareholder proposals, which comes one day after the Staff...more
In early March 2024, the U.S. Securities and Exchange Commission (“SEC”) finalized its climate-related disclosures rule (The Enhancement and Standardization of Climate-Related Disclosures for Investors) (the “Final Rule”)....more
On February 3, 2025, the U.S. District Court for the Central District of California granted a partial motion to dismiss filed by the California Air Resources Board (“CARB”), dismissing the claims that SB 253 (the Climate...more
Companies with forthcoming annual report and proxy statement filings should consult with counsel regarding recent regulatory and legal developments related to diversity, equity and inclusion (“DEI”) initiatives and the...more
1/31/2025
/ Affirmative Action ,
Board of Directors ,
Corporate Governance ,
Disclosure Requirements ,
Diversity ,
Environmental Social & Governance (ESG) ,
Executive Orders ,
Nasdaq ,
Proxy Season ,
Reporting Requirements ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Trump Administration
On January 23, 2025, the Supreme Court granted the government’s motion to stay a nationwide injunction that was issued by a Texas federal judge in the case Texas Top Cop Shop, Inc. v. McHenry. As we discussed previously,...more
1/29/2025
/ Anti-Money Laundering ,
Appeals ,
Beneficial Owner ,
Corporate Transparency Act ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Financial Crimes ,
FinCEN ,
Injunctions ,
Reporting Requirements ,
SCOTUS
On January 21, 2025, President Donald Trump issued an Executive Order titled “Ending Illegal Discrimination and Restoring Merit-Based Opportunity” (the “Executive Order” which significantly impacts not only requirements...more
On December 26, 2024, New York Governor Kathy Hochul signed the Climate Change Superfund Act (“CCSA” or the “Act”) into law. The law requires certain fossil fuel producers and refiners with sufficient connections to New York...more
1/20/2025
/ Carbon Emissions ,
CERCLA ,
Climate Change ,
Energy Policy ,
Energy Sector ,
Environmental Justice ,
Environmental Liability ,
Environmental Policies ,
Fossil Fuel ,
Greenhouse Gas Emissions ,
Infrastructure ,
New York ,
Oil & Gas ,
State Legislatures ,
Superfund
With Trump’s impending inauguration, significant shifts in Environmental, Social, and Governance (ESG) policies domestically are expected, as is the overall cultural and corporate mood for ESG. Companies can anticipate a...more
1/16/2025
/ California ,
Climate Change ,
Compliance ,
Corporate Governance ,
Environmental Social & Governance (ESG) ,
Greenwashing ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Shareholders ,
State Attorneys General ,
Sustainability
As we previously discussed, on December 5, 2024, the Department of Justice (“DOJ”), representing the Department of the Treasury, submitted a notice of appeal to the U.S. Court of Appeals for the Fifth Circuit, challenging a...more
On December 16, 2024, the California Air Resources Board (“CARB”) released a notice soliciting comments on a number of specific questions to inform its implementation of the Climate Corporate Data Accountability Act (“CCDAA”...more
On December 11, 2024, in a 9-8 ruling along party lines, the U.S. Court of Appeals for the Fifth Circuit (the “Fifth Circuit”) struck down the Nasdaq board diversity rules issued by the U.S. Securities and Exchange Commission...more
In an Enforcement Notice released on December 5, 2024, the California Air Resources Board (“CARB”) announced that it will not take enforcement action against companies subject to California’s Climate Corporate Data...more
As we previously discussed, on December 3, 2024, Judge Amos Mazzant of the U.S. District Court for the Eastern District of Texas issued a memorandum opinion and order granting a nationwide preliminary injunction against the...more
On November 14, 2024, a panel of the U.S. Court of Appeals for the Fifth Circuit affirmed the SEC’s ability to intervene in shareholder proposals under Rule 14a-8 of the Securities Exchange Act of 1934 (“Rule 14a-8...more
On November 8, 2024, the U.S. Securities and Exchange Commission (“SEC”) announced a settled enforcement action (the “SEC Order”) against Invesco Advisers, Inc. (“Invesco”), an investment advisory firm, for making misleading...more
11/14/2024
/ Corporate Governance ,
Disclosure Requirements ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
False Statements ,
Greenwashing ,
Investment ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Policies and Procedures ,
Securities and Exchange Commission (SEC)
The Financial Crimes Enforcement Network (“FinCEN”) has announced temporary relief measures for reporting companies affected by recent hurricanes in the Southeast, providing additional time to comply with Beneficial Ownership...more
On November 5, 2024, the U.S. District Court for the Central District of California denied a motion for summary judgment that sought to declare SB 253 and SB 261 (the “California Climate Laws”) invalid on their face under the...more