- 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.
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
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.
2025-05-19T14:33:00Z By Adrianne Appel
The Department of Justice (DOJ) has shuttered a special Federal Bureau of Investigation (FBI) unit that focused on public corruption and whose legwork led to the special counsel investigation of President Donald Trump for trying to overturn the 2020 election results.
2025-05-19T14:09:00Z By Aaron Nicodemus
The Trump administration is preparing to ask the European Union to alter or water down its rules on content moderation on social media, claiming that they hurt the competitiveness of American technology companies.
2025-05-16T12:20:00Z By Adrianne Appel
The Consumer Financial Protection Bureau has pulled back a draft privacy rule that would have required businesses to take more steps before selling consumers’ financial and personal data.
Site powered by Webvision Cloud