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01.24.2025
Client Advisories
A Second Nationwide Preliminary Injunction Continues the Suspension of Required Filings Under the Corporate Transparency Act
On January 23, 2025, the U.S. Supreme Court stayed the nationwide (a.k.a., universal) preliminary injunction preventing the U.S. Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”) from enforcing the Corporate Transparency Act (“CTA”). As a result of the Supreme Court’s decision in the Texas Top Cop Shop case, available here, it was anticipated that reporting companies would be required to file their beneficial ownership information (“BOI”) reports with FinCEN, as provided in the CTA. See our advisory.
01.23.2025
Client Advisories
U.S. Supreme Court Stays Preliminary Injunction and Reinstates Corporate Transparency Act
On January 23, 2025, the U.S. Supreme Court stayed the nationwide (a.k.a., universal) preliminary injunction preventing the U.S. Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”) from enforcing the Corporate Transparency Act (“CTA”). As a result of the Supreme Court’s decision, available here, reporting companies will now be required to file their beneficial ownership information reports with FinCEN, as provided in the CTA.
01.15.2025
Client Advisories
New Jersey’s Comprehensive Data Privacy Law Now in Effect
New Jersey’s comprehensive data privacy law goes into effect today, January 15, 2025. The law gives New Jersey consumers greater control over their data and imposes significant obligations on businesses that collect and process such data. Some of the obligations include publishing a privacy policy detailing the business’s data collection, processing, and disclosure practices, providing consumers with the option to opt-out of the collection and disclosure of their information, and entering into written data processing agreements with third-party vendors that will be accessing or processing personal information. For more information about the law, please see our prior published client alerts here and here. If you need assistance in evaluating your business’s privacy compliance or if you have any questions or would like more information on the issues discussed in this Alert, please contact Kate Sherlock in Archer’s Voorhees office at 856-673-3919 or ksherlock@archerlaw.com
