On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) adopted an interim final rule (Rule) exempting U.S. companies previously subject to the reporting requirements under the Corporate Transparency Act (CTA)...more
On February 27, 2025, the Financial Crimes Enforcement Network (FinCEN) announced that it will not take enforcement actions against any companies for failure to file or update beneficial ownership information (BOI) reports...more
On February 18, 2025, the U.S. District Court for the Eastern District of Texas stayed the nationwide injunction it previously issued in Smith, et al. v. U.S. Department of the Treasury, et al., 6:24-cv-00336 (Smith case)....more
2/21/2025
/ Appeals ,
Beneficial Owner ,
Compliance ,
Corporate Transparency Act ,
Enforcement Actions ,
Financial Crimes ,
FinCEN ,
Injunctions ,
New Legislation ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
U.S. Treasury
On January 23, 2025, the U.S. Supreme Court stayed the injunction issued by the Fifth Circuit Court of Appeals in the case of Texas Top Cop Shop, Inc. v. Garland, et al. Case No. 4:24-cv-478 (E.D. Tex.) (Texas Top Cop Case)....more
1/28/2025
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Beneficial Owner ,
Compliance ,
Corporate Transparency Act ,
FinCEN ,
Injunctions ,
Preliminary Injunctions ,
Regulatory Requirements ,
Reporting Requirements ,
SCOTUS ,
Stays ,
U.S. Treasury
On December 26, 2024, in the case of Texas Top Cop Shop, Inc., et al. v. Garland, et al., Case No. 4:24-cv-478 (E.D. Tex.), the Fifth Circuit Court of Appeals reinstated the preliminary injunction prohibiting the federal...more
On December 23, 2024, the U.S. Court of Appeals for the Fifth Circuit granted a stay of the district court’s preliminary injunction enjoining the Corporate Transparency Act (CTA) entered in the case of Texas Top Cop Shop,...more
On December 3, 2024, a Texas-based federal court issued a preliminary injunction prohibiting the federal government from enforcing the Corporate Transparency Act (CTA) on a nationwide basis. The case, Texas Top Cop Shop,...more
The federal Corporate Transparency Act (CTA) requires disclosure of information about all corporations, limited liability companies and limited partnerships (unless exempt), and personal information about their beneficial...more
In a case brought by the National Small Business Association and an individual owner of a small business (Plaintiffs), the U.S. federal district court for the Northern District of Alabama has ruled that the Corporate...more
On August 23, 2023, the Securities and Exchange Commission (SEC) voted three to two (Commissioners Peirce and Uyeda dissenting) to adopt new and amended rules (Final Rules) under the Investment Advisers Act of 1940 (Advisers...more
8/30/2023
/ Audits ,
Clawbacks ,
Final Rules ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Private Funds ,
Quarterly Report ,
Recordkeeping Requirements ,
Registration Requirement ,
Securities and Exchange Commission (SEC) ,
Side Letters ,
Transparency
In an extensive release,1 the U.S. Securities and Exchange Commission (SEC), proposed new and amended rules (collectively, the Proposed Rules) under the Investment Advisers Act of 1940 (the Act) that would impose specific...more
3/22/2022
/ Audits ,
Disclosure Requirements ,
Fees ,
Financial Statements ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Misappropriation ,
Policies and Procedures ,
Private Funds ,
Proposed Amendments ,
Proposed Rules ,
Quarterly Report ,
Registered Investment Advisors ,
Securities and Exchange Commission (SEC)
In a series of three proposed regulations with requests for comments, the Securities and Exchange Commission (SEC) seeks to enhance communications by broker-dealers and investment advisers to their customers and clients. This...more
On June 1, 2018, the Securities and Exchange Commission (SEC) announced settlements with 13 registered investment advisers who repeatedly failed to file Form PF over multi-year periods. In the settlement orders, the SEC...more
In a series of three proposed regulations with requests for comments, the U.S. Securities and Exchange Commission (SEC) seeks to enhance and clarify the standards of conduct and duties owed by broker-dealers and investment...more
In a series of three proposed regulations1 with requests for comments, the Securities and Exchange Commission (SEC) seeks to enhance and clarify the standards of conduct and duties owed by broker-dealers and investment...more