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The decision of the Federal District Court for the Northern District of Alabama in the case of National Small Business United v. Yellen , announced on Friday, March 1, 2024, has created uncertainty for both reporting companies and their attorneys under the Corporate Transparency Act (“CTA”). What...

This checklist highlights certain considerations for companies preparing to file annual reports on Form 10-K for the calendar year ended 2023 and is intended to serve as a focused resource highlighting changes in disclosure requirements and points of emphasis for the Securities and Exchange...

The federal Corporate Transparency Act (“CTA”) requires that corporations submit a report to the Financial Crimes Enforcement Network (“FinCEN”) before January 1, 2025, with information on the persons who exercise substantial control over the corporation. As currently in place, condominium and...

Welcome to Saul Ewing’s Public Companies Quarterly Update series. Our intent is to, on a quarterly basis, highlight important legal developments of which we think public companies should be aware. This edition is related to developments during the fourth quarter of 2023. If you would like to discuss...

For all “reporting companies” created or registered on or after January 1, 2024, information concerning the “beneficial owners” of the reporting company must be reported to the Financial Crimes Enforcement Network (“FinCEN”) along with information concerning “company applicants.” As a result, both...

Introduction The introduction to the final regulations issued under the Corporate Transparency Act (“CTA”) by the Financial Crimes Enforcement Network of the United States Treasury (“FinCEN”) states that, “[i]llicit actors frequently use corporate structures such as shell and front companies to...

“Company applicants” — the term may sound vague, but the identities of “company applicants” of reporting companies are just as important under the new federal Corporate Transparency Act (the “CTA”) as the identities of the beneficial owners of those companies. What You Need to Know: The era of...

Beginning on January 1, 2024, the Corporate Transparency Act (the “CTA”) will require all “Reporting Companies” to report to the federal Financial Claims Enforcement Network (“FinCEN”) information about their “beneficial owners” and “company applicant’s (“BOI Reports”). The statutory definition of a...

On Halloween, the U.S. Department of Health and Human Services (HHS), Office for Civil Rights (OCR) announced a $100,000 settlement under the Health Insurance Portability and Accountability Act (HIPAA) with Doctors’ Management Services (DMS), a Massachusetts medical management company that provides...

On Monday, October 30, President Biden issued the Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence” [1] (the “Order”) in an attempt to seize the promise and manage the risks of artificial intelligence (“AI”) technology. The Order establishes new...

Welcome to Saul Ewing’s Public Companies Quarterly Update series. Our intent is to, on a quarterly basis, highlight important legal developments of which we think public companies should be aware. This edition is related to developments during the third quarter of 2023. If you would like to discuss...

On June 22, 2023, the Oregon legislature passed the Oregon Consumer Privacy Act (OCPA) SB 619 with a nearly unanimous vote in the senate. The bill was developed over the last four years by the Attorney General's Consumer Privacy Task Force, created to answer the call for comprehensive consumer...

Earlier this month, the U.S. Department of Health and Human Services (“HHS”) Office for Civil Rights (“OCR”) announced two (2) different settlements, one with a HIPAA business associate for $350,000 and one with a HIPAA-covered entity pursuant to the OCR Right of Access Initiative for $15,000...

On May 11, 2023, Tennessee became the eighth state to join the most recent trend in state legislation when Governor Lee signed the Tennessee Information Protection Act (TIPA) into law . Tennessee follows other states that have recently enacted comprehensive privacy legislation, starting with...

On Wednesday, March 15, Iowa’s House Legislature unanimously voted to approve Senate File 262 (SF 262), a comprehensive data privacy bill that unanimously passed the Senate on March 6. The bill will now move to the Governor’s desk to be signed into law (if the Governor does not sign or veto the bill...

The 2021 calendar year reports from HHS OCR describe OCR’s efforts that calendar year and are instructive tools for all parties who need to comply with HIPAA to understand macro-level trends. What You Need to Know: OCR continues to receive tens of thousands HIPAA complaints each year. “Large”...

On February 17, 2023, the Illinois Supreme Court held that an entity violates the Illinois Biometric Information Privacy Act (“BIPA”) each and every time it fails to fully comply with BIPA’s strenuous collection and dissemination requirements. The Court’s holding, derived from the case of Cothron v...

On February 2, 2023, the Illinois Supreme Court weighed in and answered a question that had previously remained uncertain and hotly contested in recent years: how long is the statute of limitations for claims under the Illinois Biometric Information Privacy Act (“BIPA”)? According to the Supreme...

On November 9, 2022, the New York Department of Financial Services (“NYDFS”) published proposed amendments (the “Proposed Amendments”) to its Cybersecurity Regulations (23 NYCRR 500), commonly referred to as Reg. 500. The comment period for these Proposed Amendments ends on January 9, 2023...

Class Action Lawsuits Stemming From Use of Session Replay Software Are on the Rise In an effort to enhance customer experience, many businesses and institutions have their public-facing websites collect information with the use of cookies, web beacons, chat bots, and/or “session replay” software...

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