In another twist as to the future of the Corporate Transparency Act’s (CTA) implementation and judicial intervention, on February 27, 2025, the Financial Crimes Enforcement Network (FinCEN) announced that it will not be...more
3/4/2025
/ Beneficial Owner ,
Compliance ,
Corporate Transparency Act ,
Enforcement Actions ,
FinCEN ,
Penalties ,
Proposed Rules ,
Regulatory Requirements ,
Reporting Requirements ,
Rulemaking Process ,
Small Business ,
U.S. Treasury
On February 17, 2025, the U.S. District Court for the Eastern District of Texas, in Smith, et al. v. U.S. Department of the Treasury, granted the Department of Justice’s request to stay the nationwide injunction that had...more
On Thursday, January 23, 2025, in an 8-1 decision, the U.S. Supreme Court stayed one of the two nationwide injunctions of the Corporate Transparency Act (CTA) pending the conclusion of the Fifth Circuit appeal and any...more
On December 26, 2024, the merits panel of the United States Court of Appeals for the Fifth Circuit issued an order vacating the earlier motions panel’s order from December 23, 2024, that had granted a stay of the nationwide...more
On December 23, 2024, the United States Court of Appeals for the Fifth Circuit issued an order granting the Department of Justice’s emergency motion seeking a stay of the nationwide preliminary injunction of the Corporate...more
12/27/2024
/ Appeals ,
Beneficial Owner ,
Business Entities ,
Corporate Transparency Act ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Reporting Requirements ,
Stays ,
Time Extensions
On December 5, 2024, the Department of Justice (DOJ), filed a Notice of Appeal in response to a U.S. District Court’s recently issued, nationwide preliminary injunction stopping the reporting obligations under the Corporate...more
12/12/2024
/ Appeals ,
Beneficial Owner ,
Corporate Transparency Act ,
Department of Justice (DOJ) ,
Enforcement ,
FinCEN ,
Popular ,
Preliminary Injunctions ,
SCOTUS ,
Texas ,
Unconstitutional Condition
In Texas Top Cop Shop, Inc. et al. v. Merrick Garland, a U.S. District Court in Texas has issued a potentially major setback to the continued application of the Corporate Transparency Act (CTA), which became effective on...more
12/6/2024
/ Corporate Transparency Act ,
Department of Justice (DOJ) ,
Enforcement ,
Financial Crimes ,
FinCEN ,
First Amendment ,
Fourth Amendment ,
Popular ,
Preliminary Injunctions ,
Reporting Requirements ,
Texas ,
Unconstitutional Condition
Department of Justice (DOJ) Deputy Attorney General Lisa Monaco announced that the DOJ is adopting a whistleblower incentive program today at the American Bar Association’s 39th National Institute on White Collar Crime. In...more
5/10/2024
/ CFTC ,
Corporate Misconduct ,
Department of Justice (DOJ) ,
False Claims Act (FCA) ,
Federal Pilot Programs ,
FEPA ,
FinCEN ,
Foreign Corrupt Practices Act (FCPA) ,
IRS ,
Penalties ,
Securities and Exchange Commission (SEC) ,
Self-Disclosure Requirements ,
Voluntary Disclosure ,
Whistleblower Awards ,
Whistleblowers ,
White Collar Crimes
A U.S. District Court in Alabama issued a major setback to efforts to detect and combat terrorism, money laundering, and other misconduct through small business entities. On March 1, 2024, the Northern District of Alabama...more
With 2024 almost upon us, this means that for millions of companies across the United States, new compliance requirements under the Corporate Transparency Act (“CTA”) are about to take effect. In fact, the Financial Crimes...more
Many investors, traditional and progressive, are looking hard at cryptocurrency investments as a way to diversify their portfolios. However, there are still multiple known “unknowns” about this new market, including the...more
2/24/2021
/ Anti-Money Laundering ,
Bitcoin ,
Cross-Border Transactions ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Export Controls ,
FinCEN ,
Initial Coin Offering (ICOs) ,
Investment ,
Investment Adviser ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Securities and Exchange Commission (SEC) ,
U.S. Treasury ,
Virtual Currency
The Financial Crimes Enforcement Network (“FinCEN”) and the Office of Foreign Assets Control (“OFAC”) have recently stepped up the pressure on virtual currency companies. Increased regulatory scrutiny has largely taken the...more