Caroline Sir

Dec 30, 2024 | jdsupra.com | Caroline Sir

On December 26, 2024, a merits panel of the United States Court of Appeals for the Fifth Circuit contributed to the frenzied whirlpool of Corporate Transparency Act (CTA) developments, reversing an earlier decision to stay the preliminary injunction issued by the Eastern District of Texas suspending enforcement of the CTA and its reporting rules.

Dec 24, 2024 | jdsupra.com | Caroline Sir

In a recent client alert, we notified clients that on December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a preliminary injunction against enforcement of the Corporate Transparency Act (CTA) and its beneficial ownership information (BOI) reporting requirement.

Dec 9, 2024 | jdsupra.com | Deborah Connor |Marc-Alain Galeazzi |Caroline Sir

As detailed in our client alert regarding the issuance of a preliminary injunction by the Eastern District Court of Texas against the Corporate Transparency Act (CTA), enforcement of the CTA and its reporting rules on beneficial ownership information (BOI) has been temporarily suspended. On December 5, 2024, the U.S. government filed an appeal to the United States Court of Appeals for the Fifth Circuit against this preliminary injunction.

Dec 5, 2024 | jdsupra.com | Deborah Connor |Marc-Alain Galeazzi |Caroline Sir

On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a preliminary injunction against enforcement of the Corporate Transparency Act (CTA) and its beneficial ownership information (BOI) reporting requirement. As drafted, the CTA requires any entity that was formed or registered to do business in the United States prior to January 1, 2024, and does not fall into one of the 23 categories of exemptions, to report its BOI by January 1, 2025.

Jul 8, 2024 | lexology.com | Kelley A. Howes |Marc-Alain Galeazzi |Deborah Connor |Malka Levitin |Caroline Sir

On May 13, 2024, the U.S. Department of the Treasury’s (“Treasury”) Financial Crimes Enforcement Network (FinCEN) and the Securities and Exchange Commission (SEC) issued a joint Notice of Proposed Rulemaking (NPRM) that would require SEC-registered investment advisers (RIAs) and exempt reporting advisers (ERAs) to implement and maintain a customer identification programs (CIP) to verify the identities of their customers.