James G. Smith
Partner
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04.10.2024
Client Advisories
An Update on the NY LLC Transparency Act
The federal Corporate Transparency Act (the “CTA”) became effective on January 1, 2024. However, it is not the only legislation requiring the disclosure of a private company’s beneficial owners. On December 22, 2023, New York Governor Kathy Hochul signed the New York LLC Transparency Act (the “NYLTA”). On March 1, 2024, she signed a chapter amendment to the same, which amended certain provisions and prescribed final rules for the NYLTA. Among other changes, this amendment postponed the NYLTA’s original effective date of December 21, 2024. Now, new LLCs formed or registered after January 1, 2026 must comply with the NYLTA within 30 days of formation/registration and LLCs existing prior to January 1, 2026 must comply by January 1, 2027.
11.30.2022
Client Advisories
SEC Adopts Executive Compensation Clawback Rules Mandated Under Dodd-Frank Act
On October 26, 2022, the Securities and Exchange Commission (SEC) adopted final executive compensation clawback rules (Clawback Rules) that require securities exchanges adopt listing standards requiring each listed company to: