Samantha Kirby

Dec 5, 2024 | mondaq.com | William Jay |Samantha Kirby |David Sikes |Andrew Pierce Boulay

On December 3, 2024, a United States district court in the Eastern District of Texas preliminarily enjoined the enforcement of the Corporate Transparency Act ("CTA") in its entirety nationwide, and also specifically stayed the reporting deadline of January 1, 2025 for reporting companies formed or registered to do business in the U.S. before January 1, 2024.1 In our view, the US Department of Justice is likely to appeal this injunction in the coming days.

Dec 5, 2024 | jdsupra.com | William Jay |Samantha Kirby |Andrew Pierce Boulay

On December 3, 2024, a United States district court in the Eastern District of Texas preliminarily enjoined the enforcement of the Corporate Transparency Act (“CTA”) in its entirety nationwide, and also specifically stayed the reporting deadline of January 1, 2025 for reporting companies formed or registered to do business in the U.S. before January 1, 2024.1In our view, the US Department of Justice is likely to appeal this injunction in the coming days.

Sep 19, 2024 | mondaq.com | William Stern |Samantha Kirby

Earlier this summer, the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) issued a Proposed Rule revising its regulations under the Bank Secrecy Act (BSA) requiring financial institutions to maintain anti-money laundering (AML) programs to reflect the requirements of the Anti-Money Laundering Act of 2020 (the AML Act).

Sep 19, 2024 | mondaq.com | William Stern |Samantha Kirby

The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) has issued a final rule (the Residential Real Estate Rule) requiring certain persons involved in residential real estate closings and settlements to submit reports and keep records on non-financed transfers of residential real property to certain types of legal entities and trusts.

Jul 18, 2024 | jdsupra.com | Samantha Kirby |Andrew Pierce Boulay

On July 8, 2024, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) released new and updated Frequently Asked Questions (FAQs) that clarify FinCEN’s final rules regarding beneficial ownership information (BOI) reporting. Two of the new FAQs (C.13. and C.14.) address the BOI requirements for reporting companies that cease to exist on or after January 1, 2024.