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As the great Oliver Wendall Holmes once said, “Many ideas grow better when transplanted into another mind than the one that they sprung up.” With Fennemore’s unwavering focus on better serving clients at the core of everything we do, our continued expansion offers our lawyers new avenues and talent  to enhance their knowledge efficient…

Key Takeaways The U.S. Department of the Treasury has suspended enforcement of the Corporate Transparency Act (CTA) for U.S. citizens and domestic reporting companies. A recent federal court ruling found certain provisions of the CTA unconstitutional. Treasury will issue a proposed rulemaking to limit the CTA’s applicability to foreign re…

We share your frustration with the uncertainty over this requirement, but the enforceability of the Corporate Transparency Act (CTA) has been reinstated.  The CTA imposed a requirement for many U.S. business entities to file Beneficial Ownership Information Reports (BOIR) with the Financial Crimes Enforcement Network (FinCEN). In response to com…

In response to recent administrative orders eliminating Diversity, Equity and Inclusion initiatives, the United States Equal Employment Opportunity Commission (EEOC) is quickly making changes at the federal level, including the removal of preferred pronouns from EEOC email communications and forms, as well as a review of workplace postings. The EEO…

Source: Law360 The Corporate Transparency Act, which was enacted in 2021 and went into effect in 2024, introduced a new set of compliance challenges for businesses and their legal counsel. In late 2023, during a meeting of our CTA working group, we grappled with the implications of assisting clients with these filings. The CTA’s severe penalt…