On April 15, 2025, the Trump Administration issued an Executive Order titled “Restoring Common Sense to Federal Procurement” that seeks to reform the Federal Acquisition Regulation (“FAR”) and agency-specific supplements to contain only those “provisions required by statute or essential to sound procurement.” Along with a supplemental fact sheet, the Executive Order states that
Subject to Inquiry
Europe Steps Up as U.S. Pauses FCPA Enforcement: What Companies Need to Know About the New International Anti-Corruption Taskforce
In a significant move signaling Europe’s growing autonomy in global anti-corruption enforcement, prosecutors from the United Kingdom, France, and Switzerland have formed a new cross-border alliance: the International Anti-Corruption Prosecutorial Taskforce. Announced on March 20, 2025 by the U.K.’s Serious Fraud Office (SFO), the taskforce is designed to deepen cooperation among these three countries on…
Fifth Circuit Concurrence Adds Voice to FCA Constitutionality Questions
By Timothy Fry
A first appellate circuit judge has questioned the False Claim Act’s constitutionality. In the Fifth Circuit’s decision last month in United States ex rel Montcrief v. Peripheral Vascular Assocs., P.A., No. 24-50176, — F. 4th –, 2025 WL 939890 (5th Cir. Mar. 28, 2025), Judge Stuart Kyle Duncan separately wrote a concurring opinion to express…
FinCEN Narrows Focus on Southwest Border
In the last few weeks, the Financial Crimes Enforcement Network (FinCEN) has circulated several instructions focusing on money services businesses operating in the southwest United States, answering the current Administration’s call for increased security measures in that area.
On March 11, FinCEN issued a Geographic Targeting Order (GTO) adding more requirements to certain money services…
Treasury Department Formally Exempts U.S. Companies from CTA
The guidance U.S. companies have been waiting for after years of ups and downs is finally here. In line with our last update, on March 21, 2025, FinCEN issued an interim final rule exempting U.S. companies and persons from the requirement to report, modify, or correct beneficial ownership information under the Corporate Transparency Act…
Treasury Department Declares Intent to Limit CTA to Foreign Reporting Companies
After the Financial Crimes Enforcement Network (FinCEN) stated that it would hold off on taking enforcement actions against Reporting Companies for failure to comply with the March 21, 2025, deadline under the Corporate Transparency Act (CTA), the U.S. Department of the Treasury announced its own intention to limit CTA enforcement to foreign companies.…
FinCEN’s March 21 CTA Deadline to Report Beneficial Ownership Info Will Not Be Enforced … Yet
The Financial Crimes Enforcement Network (FinCEN) published new guidance on Feb. 27, 2025, putting its plan to begin enforcing the Corporate Transparency Act (CTA) on hold. After the Feb. 17 order by the U.S. District Court for the Eastern District of Texas in Smith v. United States Department of Treasury made the CTA once again…
Texas Court Stays Nationwide Injunction Staying the CTA, Deadline to Report Beneficial Ownership Information is March 21, 2025
In our last update, we reported that despite the Supreme Court staying the nationwide injunction against FinCEN’s enforcement of the CTA in one Texas case, a nationwide stay of the Reporting Rule granted by a federal judge in the Eastern District in Smith v. United States Department of Treasury (6:24-cv-00336) remained in effect. …
Practical Tips for Companies Following President Trump’s Pause on FCPA Enforcement
Since the President signed the February 10, 2025 Executive Order (Order) pausing enforcement of the Foreign Corrupt Practices Act (FCPA) (Client Alert: President Trump issues Executive Order “Pausing Foreign Corrupt Practices Act Enforcement to Further American Economic and National Security”), companies with cross-border business operations have likely faced questions from both internal and…
Major Shift on Foreign Corrupt Practices Act: Trump Signs EO Pausing Enforcement
Last night, in a move with wide-ranging implications for American companies doing business abroad, President Trump issued an executive order (Order) temporarily halting enforcement of the Foreign Corrupt Practices Act (FCPA). The Order directs Attorney General (AG) Pam Bondi to review guidelines and policies governing FCPA investigations and enforcement actions in the next 180 days,…