Companies subject to the Treasury Department’s paused beneficial ownership information (BOI) reporting requirements are in a “state of bewilderment” after the Corporate Transparency Act rules were temporarily reinstated earlier this month only for them to be quickly placed back under a nationwide injunction last week (see 2412270046), Holland & Knight said in a Dec. 27 client alert. For now, the law firm said there “appears to be a set path forward and a reprieve from imminent compliance obligations” under the rules, which would have required most companies to submit BOI reports to the Financial Crimes Enforcement Network in January as part of a government initiative to prevent sanctioned parties and others from hiding assets in the U.S.
A nationwide injunction stopping the Corporate Transparency Act’s beneficial ownership information (BOI) reporting requirements from taking effect was reinstated last week, making it so certain companies won't have to comply with the law's reporting rules next month.
FCC Commissioner Brendan Carr’s recent warning letter to Disney CEO Bob Iger (see 2412240021) appears politically motivated, could be read as a reversal of Carr’s past stances on sticking to the text of FCC rules and evokes the long-defunct fairness doctrine, according to former FCC commissioners, academics and attorneys we interviewed. President-elect Donald Trump has selected Carr to head the FCC.
Two top Republican lawmakers who will have leading roles during the next Congress told us this month they're open to clawing back the $42.5 billion allocated to the BEAD program amid their party’s vocal opposition to NTIA's implementation of it during the Biden administration. Some stakeholders told us funding rescission would be difficult to execute. They insist congressional Republicans and President-elect Donald Trump’s incoming administration will see a revamp of BEAD’s rules and practices as much more feasible (see 2410210043).
The New Jersey Senate passed an Assembly bill Thursday requiring broadband and cable providers to let consumers pause or cancel service contracts if they are admitted to a long-term care facility (see 2410240024). The bill becomes law after 45 days or when Gov. Phil Murphy (D) signs it.
U.S. solar cell maker Auxin Solar and solar module designer Concept Clean Energy asked the Court of International Trade for another 3,500 words to reply to arguments from the government and solar cell exporters and importers in the pair's suit on the Commerce Department's duty pause on solar cells and modules from four Southeast Asian countries. Auxin and Concept Clean Energy said opposing counsel either consented or took no position to the motion (Auxin Solar v. U.S., CIT # 23-00274).
The U.S. and China need to pause their escalating trade restrictions against one another and have a “serious” conversation about how to manage national security risks around technology to prevent a dangerous decoupling of their two economies, the outgoing leader of a major U.S.-China business organization warned this week.
China appears to be preparing to use its own set of extraterritorial export controls against the U.S. in response to the Biden administration’s latest chip restrictions and Entity List additions, an official with the U.S.-China Business Council said.
FCC Communications Equity and Diversity Council members are concerned the advisory committee won’t be allowed to continue its work once Commissioner Brendan Carr takes over the agency, and the group used its final 2024 in-person meeting Friday to present arguments for its continued operation.
The Biden administration, which in January paused pending decisions on liquefied natural gas exports to allow it to review criteria for approving LNG export applications, plans to release the results of its study in “mid-December,” an Energy Department official said Dec. 4.