WSHC+B partner Fabio Giallanza recently spoke to the Daily Business Review on the latest developments on the recently passed Corporate Transparency Act (CTA).
The Financial Crimes Enforcement Network has announced that the reporting of certain stakeholder information is voluntary, pending the resolution of the federal government’s appeal of an injunction by the U.S. District Court for the Eastern District of Texas. This injunction barred enforcement of the CTA and its beneficial ownership reporting requirements, citing potential unconstitutionality.
Fabio pointed out the difference between the Texas court’s decision and an earlier decision by the U.S. District Court for the Northern District of Alabama: “This case in Texas goes a step further, and a big step further, because it imposed the injunction, which is not limited to the plaintiffs in the case, but it’s a nationwide injunction.”
Fabio is a corporate and real estate attorney, representing businesses and investors in the acquisition and financing of property, along with business transactions and corporate matters. He specializes in cross-border transactions involving clients based in the United States, Europe, and Latin America.
Read the full article in the Daily Business Review here: https://www.law.com/dailybusinessreview/2024/12/10/nationwide-injunction-halts-corporate-transparency-act-reporting-requirements/?slreturn=20241218103920
