News & Analysis as of

Exemptions Compliance

DarrowEverett LLP

Private Placements in South Carolina: A Primer on Federal and State Securities Registration

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With an estimated 34 people moving to the Charleston area each day and with South Carolina claiming one of the fastest-growing populations in the nation last year , the post-COVID increase in the number of private placement...more

Wyrick Robbins Yates & Ponton LLP

FinCEN Issues Revised Corporate Transparency Act Rule; Domestic Companies Exempt

On March 21, 2025, the Financial Crimes Enforcement Network (“FinCEN”) issued an interim final rule under the Corporate Transparency Act. The revised rule changes the definition of “reporting company” to mean any entity that...more

Buchalter

SEC Issues Modified CDI's on Private Placements and Offering Exemptions

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On March 12, 2025, the SEC dropped a massive amount of changes to their Compliance and Disclosure Interpretations (CDI’s) related to Regulation D and other forms of exempt offerings, including clarification (and flexibility!)...more

Mayer Brown Free Writings + Perspectives

SEC Extends Compliance Dates and Provides Temporary Exemption for Rule Related to Clearing of U.S. Treasury Securities

On February 25, 2025, the SEC extended the compliance dates for Rule 17ad-22(e)(18)(iv)(A) and (B) under the Securities Exchange Act for eligible cash market transactions by one year to December 31, 2026, and for eligible...more

Husch Blackwell LLP

New Mexico Rules That Anesthesia Services Can Be Purchased Exempt for Resale

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New Mexico’s gross receipts tax (what the state calls its sales tax) is generally imposed on receipts derived by the seller from performing services in the state; however, a resale of the services is not generally taxable if...more

Carey Olsen

Amendments to the BVI Business Companies Act

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On 2 January 2025, the BVI Business Companies (Amendment) Act, 2024 and the BVI Business Companies and Limited Partnership (Beneficial Ownership) Regulations, 2024 (the “Amendments”) came into effect. The Amendments impact...more

Cole Schotz

Although Federal CTA Paused, New York State Equivalent Still Looming

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As of December 26, 2024, the Fifth Circuit restored the nationwide injunction against the federal Corporate Transparency Act (“CTA”), issued in Texas Top Cop Shop. No enforcement of the filings requirements is currently...more

Holland & Knight LLP

A Look at the CTA's Subsidiary Exemption as Applied to CMBS Special Purpose Entities

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The Corporate Transparency Act (CTA) requires certain domestic and foreign entities, called "reporting companies," to file a beneficial ownership information (BOI) report – which provides information about their owners,...more

Allen Matkins

How to Prepare for the Upcoming Filing Deadline Under the Corporate Transparency Act (CTA)

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The January 1, 2025 filing deadline under the CTA for filing beneficial ownership information reports (BOI reports) for reporting companies formed prior to January 1, 2024 is rapidly approaching....more

Rivkin Radler LLP

FinCEN Engages in Outreach as CTA Deadline Looms

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By January 1, 2025, millions of existing businesses must have filed certain information with the Financial Crimes Enforcement Network (FinCEN) to remain in compliance with the Corporate Transparency Act (CTA). As this...more

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

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