Transparency |

Civil Law

Federal court finds the Corporate Transparency Act unconstitutional: Is compliance still required?

Congress passed the Corporate Transparency Act (CTA) as an anti-money-laundering initiative in 2021. Absent an applicable exemption,[1] the CTA requires all entities formed or registered to do business in the US (reporting companies) to report their beneficial ownership[2] to the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN).

In National Small Business United v. Yellen, No. 5:22-cv-01448 (N.D. Ala.), the National Small Business Association (NSBA) and one of its members brought a suit in the US District Court of the Northern … Read the rest

Civil Law

The Corporate Transparency Act: Will it Impact You?

The Corporate Transparency Act (CTA) will affect most small, privately held businesses starting January 1, 2024. Does the CTA apply to you?

What is the CTA?
The CTA, a law enacted by Congress, will require certain business entities to disclose beneficial ownership information to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). The purpose of the act is to combat financial crimes, including money laundering, terrorism, human and drug trafficking and tax evasion by creating a centralized … Read the rest

Civil Law

South Korea’s FSS Introduces New ESG Rating Guidelines to Enhance Transparency

On January 15, 2023, South Korea’s Financial Supervisory Service (“FSS”) issued new guidelines (the “Guidelines”) (Korean language only) to enhance transparency on the methods and procedures used by credit rating agencies to perform ESG bond certification evaluations. In announcing the Guidelines, the FSS noted that, prior to their introduction, there were no specific rules or regulations in South Korea covering the ESG certification process. The FSS also indicated that currently it is difficult to compare ESG … Read the rest

Circuit Courts

Judicial Conference Adopts Transparency Measures

Taking steps to increase transparency and public access, the federal Judiciary’s policy making body today approved automating the release of judges’ financial disclosure reports, amending its conflict screening policy, and expanding the scope of its audio streaming pilot project.
Judiciary News – United States Courts

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Civil Law

Tax Meets ESG: Shareholder Activism Expanding to Tax Transparency

In a recent Legal Update[1], we discussed the emerging intersection between Tax and ESG and highlighted the various external stakeholders pressuring for greater visibility into the global tax positions of multinational companies (MNEs). One increasingly vocal stakeholder group is activist shareholders. Recently, a group of institutional investors of a Fortune 50 company initiated a shareholder proposal calling for the company to publicly disclose where and how much tax it pays around the world. This is only the latest in what … Read the rest

Supreme Court

Term limits, transparency, and other proposed Supreme Court fixes

Gabe Roth, the executive director of Fix the Court, discusses the Biden court commission’s final report and why he believes term limits are the superior court reform.

If you have questions about the court, the justices, or an upcoming case, please email us at scotustalk@scotusblog.com. We may answer your question on a future episode of SCOTUStalk.

(Music by Keys of Moon Music via Soundcloud)

Listen now on Acast.

The post Term limits, transparency, and other proposed Supreme … Read the rest

Circuit Courts

Judiciary Takes Action to Ensure High Ethical Standards and Transparency

Judge Jennifer Walker Elrod testified before a House subcommittee today to describe judges’ recusal standards and case conflict screening process that help judges maintain high ethical standards.
Judiciary News – United States Courts

… Read the rest