- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2025-02-20T20:24:00
Uncertainty continues to swirl around a requirement that small businesses and foreign entities file beneficial ownership information with the U.S. Treasury Department.
On Monday, a judge in U.S. District Court for the Eastern District of Texas lifted an injunction that had paused beneficial ownership information (BOI) requirements with the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN). The court had declared the BOI reporting requirement unconstitutional and issued the preliminary injunction in December.
The injunction had been filed in response to a lawsuit objecting to the BOI reporting requirements by six plaintiffs, including the National Federation of Independent Business and the Libertarian Party of Mississippi. Originally, Jan. 1 was the BOI reporting date contained in the Corporate Transparency Act (CTA) of 2021.
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2025-03-18T16:56:00Z By Aaron Nicodemus
The U.S. Treasury’s effort to dramatically narrow the focus of the Corporate Transparency Act through “emergency” rulemaking would gut the law’s anti-money laundering efforts, a transparency expert said.
2025-02-28T19:08:00Z By Jeff Dale
The Treasury Department’s Financial Crimes Enforcement Network notified businesses that fail to report or update their beneficial ownership information before the agency’s March 21 deadline will not face fines or penalties. The agency further said it would not enforce the Corporate Transparency Act against U.S. citizens and domestic businesses.
2024-12-09T14:08:00Z By Adrianne Appel
Business owners can stop preparing their 2025 anti-money laundering reports for the Treasury Department’s Financial Crimes Enforcement Network, according to a Texas court, which ruled the Corporate Transparency Act requirement unconstitutional.
2025-04-24T18:07:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau (CFPB) has quickly become one of the most active agencies advancing the Trump administration’s pullback on prosecuting corporations, as it dropped yet another consumer protection lawsuit against a financial services company Wednesday.
2025-04-21T12:00:00Z By Neil Hodge
The United Kingdom’s latest effort to encourage regulators to pare down rules to attract companies and investment as a way to stimulate the economy has received mixed reviews from lawyers.
2025-04-18T14:01:00Z By Aaron Nicodemus
A federal judge has ruled that Google “willfully engaged in a series of anticompetitive acts” in the advertising technology industry, the latest antitrust setback in what could become a string of losses for tech companies.
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