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DLA Piper

CFPB Issues New Rule Addressing Supervision of Nonbank Payment Providers

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The Consumer Financial Protection Bureau (CFPB) has issued a new rule addressing its supervision of large nonbank companies offering US consumers certain digital funds transfer services and payment wallets and apps....more

Alston & Bird

Carter State Funeral is not a “Legal Public Holiday” for Purposes of Certain Regulation Z Disclosure Requirements

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What Happened? President Biden has proclaimed January 9, 2025, a federal holiday for the state funeral of former President Jimmy Carter; as a result, Federal government agencies and departments will be closed that day.  Is...more

Wilson Sonsini Goodrich & Rosati

EDGAR, Nasdaq, and NYSE Will Be Closed Thursday, January 9, 2025

On December 30, 2024, President Biden issued an Executive Order closing all executive departments and agencies of the federal government on January 9, 2025, in observance of a national day of mourning for former President...more

McDermott Will & Emery

Weekly IRS Roundup December 16 – December 20, 2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 16 – 20, 2024. ...more

Sheppard Mullin Richter & Hampton LLP

NFTs and Securities Law Issues Are on the Rise – SEC Analysis Relies on Resale Royalties

Until fall 2023, there were few SEC enforcements or litigations involving securities issues with non-fungible tokens (“NFTs”). This has changed dramatically. In rapid succession last fall, the SEC undertook two enforcements...more

A&O Shearman

UK Financial Conduct Authority Dear CEO Letter for benchmark administrators

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The Financial Conduct Authority has published a Dear CEO Letter setting out its key concerns and priorities over the next two years for benchmark administrators. The FCA's supervisory priorities include: - corporate...more

McDermott Will & Emery

Global Equity and Employment Law Considerations for 2025

Many countries finalized new regulations and released new guidance in 2024 regarding global equity plans. Multinational companies should confirm whether their equity grant materials and plan administration align with such...more

A&O Shearman

UK Financial Conduct Authority publishes Dear CEO letter for contract for differences providers

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The U.K. Financial Conduct Authority published a Dear CEO letter setting out its strategy for providers and distributors of contract for differences over the next two years. The FCA's planned work relates to: - Consumer...more

Paul Hastings LLP

Daily Financial Regulation Update -- Thursday January 2, 2025

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December 30, 2024- U.S. Senate Banking, Housing and Urban Affairs Committee Ranking Member Tim Scott (R-S.C.) released his 2024 Year-in-Review and Oversight Report for the 118th Congress, highlighting Banking Committee...more

A&O Shearman

UK Financial Conduct Authority publishes Dear CEO letter for data reporting service providers

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The U.K. Financial Conduct Authority has published a Dear CEO letter for data reporting services providers. Since its previous letter in May 2022, the FCA has seen improvement in some areas such as within firms' data quality...more

Conyers

Segregated Portfolio Companies: Cayman Courts Upholding the Segregated Principle

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A Segregated Portfolio Company (SPC) provides for the protection of the assets held under one portfolio by ring-fencing them from the liabilities of other portfolios in the same company. SPCs were introduced in the Cayman...more

Sheppard Mullin Richter & Hampton LLP

NFT Legal Issues

This year, the SEC has ramped up its enforcement efforts against digital asset marketplaces for selling non-fungible tokens (“NFTs”) (and other digital assets) the agency alleges are securities. In response, some potential...more

A&O Shearman

UK authorities consult on operational incident and third-party reporting

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The Financial Conduct Authority, Prudential Regulation Authority, and the Bank of England have launched consultations on operational incident and third-party reporting. The regulators propose to establish a framework to...more

Lowenstein Sandler LLP

U.S. Outbound Investment Controls Set to Take Effect January 2, 2025

On October 28, 2024, the U.S. Department of the Treasury issued a Final Rule establishing the new Outbound Investment Security Program, set to take effect on January 2, 2025. This program, implemented under Executive Order...more

Womble Bond Dickinson

Update: CTA Filing Requirements Are "On" - Compliance Required by January 13, 2025 (for most reporting companies)

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On December 23, 2024, the Court of Appeals for the Fifth Circuit stayed the nationwide injunction enjoining the U.S. government from enforcing the Corporate Transparency Act (the “CTA”) and the corresponding reporting...more

BCLP

To File, or Not to File: the Fifth Circuit’s Evolving Treatment of the Corporate Transparency Act

BCLP on

The U.S. Court of Appeals for the Fifth Circuit reinstated and then subsequently suspended the reporting requirements under the Corporate Transparency Act (the “CTA”) over the course of the last week by staying the original...more

Husch Blackwell LLP

Massachusetts Legislature Passes Bill Expanding Healthcare Industry Oversight

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On December 30, 2024, the Massachusetts Legislature passed House No. 4653, “An Act Enhancing the Health Care Market Review Process.” This bill includes sweeping changes focused on increased regulatory oversight and healthcare...more

Freeman Law

The Corporate Transparency Act (CTA) | Reporting Requirements, Potential Penalties, and Impending (but Suspended) Deadlines.

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Most U.S.-based business entities are now required by a federal statute to report their “beneficial ownership information” (BOI) to an agency known as “FinCEN,” the Financial Crimes Enforcement Network. BOI reporting is...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Don’t Let Your 401(k) Plan Turn Into A Natural Disaster

Having survived Hurricane Sandy with 5 feet of water downstairs, I’ve had my fill of natural disas- ters. Whether it’s climate change or not, the weather is more unstable than ever be- fore. Whether it’s 70 degrees by me in...more

Womble Bond Dickinson

CTA UPDATE: No Action Needed Yet - Mandatory CTA Filings are “OFF” For Now

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On December 26, 2024, the Court of Appeals for the Fifth Circuit VACATED a ruling early this week to stay the nationwide injunction enjoining the U.S. government from enforcing the Corporate Transparency Act (the “CTA”) and...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Win, Lose, or Draw

As an ERISA attorney for 26 years, I have seen a lot of strange things that plan sponsors have done to risk the ire of the Internal Revenue Service (IRS) and the Department of Labor (DOL). Many of these strange things could...more

Hogan Lovells

Fifth Circuit dissolves CTA injunction; FinCEN extends filing deadline

Hogan Lovells on

On December 23, 2024, the Fifth Circuit Court of Appeals dissolved a district court injunction that had stayed the January 1, 2025 deadline for compliance with the Corporate Transparency Act (“CTA”). Therefore, the Fifth...more

Greenbaum, Rowe, Smith & Davis LLP

Another Urgent Update on the Corporate Transparency Act: Nationwide Injunction Back in Effect – All CTA Reporting Stayed

In an Alert earlier last week, we reported that on December 23, 2024, a motion panel of three judges from the U.S. Court of Appeals for the Fifth Circuit granted the Department of Justice’s (DOJ) motion for a stay, or...more

Whiteford

Client Alert: Corporate Transparency Act: Nationwide Injunction Restored; Filing Deadlines Paused - Update – Fifth Circuit...

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The ongoing legal saga in the federal courts surrounding the Corporate Transparency Act (CTA) (31 U.S.C. § 5336) has reversed course, yet again. On December 26, 2024, the United States Court of Appeals for the Fifth...more

Baker Botts L.L.P.

Energy Updates – December 31, 2024

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I want to wish you all a happy and healthy 2025. Despite challenging headlines, 2024 delivered extraordinary wins in our clean energy transition. But first, better stock up on espresso and cocoa now. Coffee and cocoa prices...more

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