Whiplash on BOI The U.S. Fifth Circuit Court of Appeals has reinstated an injunction against the enforcement of the Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA). This ruling supports the National Federation of Independent Business (NFIB), which argued that the rule unfairly burdens small businesses....
Corporate Transparency Act: Fifth Circuit Reinstates Filing Deadline: Act Now to Comply In a significant development, the U.S. Court of Appeals for the Fifth Circuit has lifted the nationwide preliminary injunction that had temporarily halted enforcement of the Corporate Transparency Act (CTA). With this decision on December 23, 2024, the...
Corporate Transparency Act – ON HOLD The Corporate Transparency Act ("CTA") was enacted January 1, 2021, as part of the National Defense Authorization Act, representing the most significant reformation of the Bank Secrecy Act and related anti-money laundering rules since the U.S. Patriot Act. The CTA is intended to address...
Corporate Transparency Act - Beneficial Ownership Information Reporting The Corporate Transparency Act ("CTA") was enacted January 1, 2021, as part of the National Defense Authorization Act, representing the most significant reformation of the Bank Secrecy Act and related anti-money laundering rules since the U.S. Patriot Act. The CTA is intended...
CORPORATIONS LLCs and LPs: New Federal Beneficial Ownership Interest Report Required The recently enacted Corporate Transparency Act mandates filing a Beneficial Ownership Interest Report and marks a significant shift in how ownership interests must be reported to the federal government. The law aims to enhance transparency and curb illicit activities,...
TOOLS FOR BUSINESSES Corporate restructurings, operational revamping of business entities, and partnership disputes sometimes require out-of-the-box resolutions. Depending on the situation, we have placed a Chief Restructuring Officer, obtained a court receiver, placed an independent director on the board, and used other tools to solve business problems. If the goal...
California Corporations: Diversity on Boards of Directors of Publicly-Held Corporations The California Secretary of State just lost in its effort to enforce California’s law requiring public corporations with principal executive offices in California to include someone from ‘an underrepresented community’ (“Underrepresented community” would be someone that self-identifies as Black, African...