On December 3, 2024, the U.S. District Court for the Eastern District of Texas granted a nationwide preliminary injunction enjoining enforcement of the Corporate Transparency Act (CTA). The decision temporarily paused BOI reporting requirements under the CTA. On December 23, 2024, the U.S. Court of Appeals for the Fifth Circuit issued a stay of the injunction. The Court of Appeals...
On June 28, 2024, the Supreme Court issued Loper Bright Enterprises v. Raimondo overruling the principle of Chevron deference as established in Chevron U.S.A., Inc. v. Natural Resources Defense Council, Inc. Chevron deference directed courts to defer to a federal agency’s interpretation of federal law in the event that: there is an ambiguity in a law that the agency enforces; and the agency’s...
In an earlier post, we reported on the Corporate Transparency Act (CTA). The CTA requires that certain companies file a Beneficial Ownership Information report with the Financial Crimes Enforcement Network (“FinCEN”). See, https://spelusolawoffice.com/wp-admin/post.php?post=2126&action=edit. On March 1, 2024, the U.S. District Court of the Northern District of Alabama ruled that the CTA is unconstitutional and enjoined FinCEN from implementing the CTA....
On March 13th, the European Parliament approved the Artificial Intelligence Act (the “Act”). It aims to protect fundamental rights, democracy, the rule of law and environmental sustainability from high-risk Artificial Intelligence (AI), while at the same time boosting innovation and establishing Europe as a leader in the field of AI. The Act establishes obligations for AI that are based on...
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