On February 1, 2025, the Trump Administration imposed long-expected tariffs on imports from Canada, Mexico, and China through the issuance of three executive orders (“EOs”). While some recent reporting suggested that implementation of these tariffs may be delayed to March 1, 2025, the White House confirmed on January 31, 2025 that these tariffs
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Trump Administration Tariff Regime: Uncertainty and Expectations
As he enters his second week in office, President Donald Trump is forecasting a desire to implement a muscular trade policy leaning heavily on the imposition of tariffs—potentially on a global basis—as a means of extracting favorable trade deals and other economic and political concessions from trading partners across the globe. As of this writing,
U. S. Supreme Court Vacates National Injunction Staying the CTA in One Case, But a Separate Nationwide Stay Against Enforcement Stands
Here we go again – another CTA update hot off the press.
- In our last update, we reported that the U.S. Department of Justice (DOJ) filed with the U.S. Supreme Court an emergency application to stay the injunction preventing FinCEN from enforcing the CTA, asking the Court to either stay the Texas district court’s
Second Circuit Joins Other Circuits with AKS One Purpose Test
On December 27, 2024, the United States Court of Appeals for the Second Circuit decided United States ex rel. Camburn v. Novartis Pharmaceuticals Corporation and joined a growing list of federal circuit courts that have adopted what the Second Circuit called the “at least one purpose rule”. This rule provides that defendants have violated the
DOJ Seeks Supreme Court Review of CTA Injunction
Another flurry of court activity has further muddied the Corporate Transparency Act (CTA) waters, leaving additional uncertainty about its enforceability.
You may recall that on December 26, 2024, the Fifth Circuit vacated its own order granting the Government’s motion to stay the district court’s preliminary injunction, leaving FinCEN unable to enforce the CTA and lifting
Corporate Transparency Act Reporting Obligations: On Hold Until At Least Late March 2025
A flurry of activity in the Fifth Circuit this holiday season left clients asking the same questions about the Corporate Transparency Act (CTA): “Do we report Beneficial Ownership Information?” “If so, when is the deadline?” “Will this Act survive judicial review?”
You may recall that on December 26, 2024, the Fifth Circuit vacated the “part
Here We Go Again – Fifth Circuit Lifts the CTA Order Lifting the Injunction
Just what you wanted – another holiday edition of Subject to Inquiry tracking the legal wrangling around the Corporate Transparency Act (CTA). If you’ve just joined our program:
- On December 3, the District Court in the Eastern District of Texas issued a preliminary injunction that enjoined the Financial Crimes Enforcement Network (FinCEN) from enforcing the
Reporting Companies Have Less Than Three Weeks to File Beneficial Ownership Info With FinCEN
On Dec. 23, 2024, the U.S. Court of Appeals for the Fifth Circuit granted the government’s emergency motion for a stay of a District Court’s nationwide preliminary injunction against enforcement of the Corporate Transparency Act (CTA). The appellate court’s unpublished order in Texas Top Cop Shop v. Garland reinstates the act, which has a year-end deadline
Federal District Court Issues Nationwide Preliminary Injunction Against Enforcement of the Corporate Transparency Act
On December 3, 2024, the United States District Court for the Eastern District of Texas issued a nationwide preliminary injunction against enforcement of the Corporate Transparency Act (“CTA”). Enacted as part of the Anti-Money Laundering Act of 2020, the CTA requires certain legal entities to report beneficial ownership information (“BOI”) to the U.S. Department of
Deadline to Determine Corporate Transparency Act Reporting Obligations Fast Approaching
As 2024 comes to a close, companies created prior to January 1, 2024 should be mindful of the year-end deadline to analyze whether they must report Beneficial Ownership Information (“BOI”) to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”) pursuant to the reporting provisions of the Corporate Transparency Act (“CTA”). Companies should take