Key Development: FinCEN Limits CTA Reporting to Foreign Entities — For Now On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule (IFR) that significantly narrows the reporting requirements under the Corporate Transparency Act (CTA). Under the IFR, only foreign entities registered to do business in the United States are ...
Recent Developments The Financial Crimes Enforcement Network (FinCEN) has reinstated the beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA). Following recent court decisions, the deadline for compliance has been extended to March 21, 2025. This extension provides additional time for companies to file their initial, updated, or corrected BOI reports. Background: ...
Interested in learning more about recent developments in Mergers & Acquisitions law? The Business Law Section of the American Bar Association recently released its Summer 2024 “Annual Survey of Judicial Developments Pertaining to Mergers and Acquisitions.” This overview of relevant caselaw and judicial opinions focuses on matters with the greatest significance and potential impact on ...
The 2024 legislative session saw the Minnesota Legislature make a number of sweeping changes and clarifications to the State’s one-year-old cannabis statute. And in recent days, the Office of Cannabis Management (OCM) added some additional details and clarity every aspiring cannabis entrepreneur should note. In May, the Legislature defined the process applicants will need to ...
Companies have new reporting requirements beginning January 1, 2024. The Corporate Transparency Act (CTA) passed as part of an anti-money laundering regime. The CTA requires a government-maintained registry of beneficial ownership information (BOI) for certain entities registered or formed to do business in the U.S. The CTA requires that those entities report their BOI to ...
Retailers, manufacturers, and online marketplaces – are you ready to INFORM your customers? On June 27, 2023, online marketplaces and “high-volume third party sellers” must comply with the new federal statute – the Integrity, Notification, and Fairness in Online Retail Marketplaces for Consumers Act (the “INFORM Consumers Act”). Designed to combat fraud and the sale ...
This is the first post of many to analyze Minnesota’s recreational adult use cannabis legislation. Authors: David M. Aafedt, Gerald H. Fornwald, Peter G. Economou We are within days of adult recreational cannabis officially becoming a law here in the North Star State.[1] Competing bills have woven their way through dozens of committees in both ...
With the Minnesota House passing its version of an adult-use cannabis bill this week, and the Minnesota Senate scheduled to debate—and potentially vote on—its own bill, here are 5 things to keep your eye on. 1. Differences are Narrowing. In their original forms, the House and Senate bills were dramatically different, with some describing the ...
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