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As we previously discussed and in alignment with the U.S. Treasury Department’s previous announcement, on March 21, 2025, the Financial Crimes Enforcement Network (“FinCEN”) issued an interim final rule that dramatically narrows the reporting requirements for beneficial ownership information (“BOI”) under the Corporate Transparency Act (“CTA”).

On February 19, 2025, the Council on Environmental Quality (“CEQ”) released a pre-publication version of an interim final rule (the “Interim Rule”) to rescind all of CEQ’s previous and current regulations implementing the National Environmental Policy Act (“NEPA”) alongside a memorandum (the “Memo”) to federal agencies providing guidance on how agencies should revise their individual NEPA regulations and how they should manage NEPA reviews in the meantime.

After little more than a week in office, there is still plenty of speculation, but priorities of the Trump 2.0 Administration are becoming more concrete.

When President-Elect Donald J. Trump takes office on January 20, 2025, the U.S. Department of Justice (“DOJ” or the “Department”) is certain to be at the center of the action and conversation in Washington, D.C.—just as it was on January 20, 2017.

On November 19, 2024, Vinson & Elkins LLP hosted an event on how the regulatory landscape may develop during the incoming Trump administration.

The Financial Crimes Enforcement Network (“FinCEN”) has announced temporary relief measures for reporting companies affected by recent hurricanes in the Southeast, providing additional time to comply with Beneficial Ownership Information (“BOI”) reporting requirements under the Corporate Transparency Act (the “CTA”) (see our update and summary here). FinCEN’s relief grants an extra six months for reporting companies that meet the specific criteria outlined below.

On March 22, 2024, the Internal Revenue Service (IRS) issued additional guidance in respect of the “Energy Community Bonus” in Notice 2024-30 (the “Notice”), which provides two key updates: (1) offshore wind farms have two new ways to meet the Nameplate Capacity Attribution Rule, and (2) adding new industry codes for evaluating employment rates related to fossil fuel industries.

In a key development relating to the Corporate Transparency Act (the “CTA”), on March 1, 2024, U.S. District Judge Liles C. Burke of the Northern District of Alabama issued a memorandum opinion and final judgment ruling the CTA unconstitutional on the grounds that it exceeds the Constitution’s limits on Congress’ power.

The Corporate Transparency Act (the “CTA”), a new federal law, went into effect on January 1, 2024 (see our update and summary here).

The Corporate Transparency Act (the “CTA”), a new federal law, went into effect on January 1, 2024.

On March 15, 2023, the Securities Exchange Commission (“SEC”) issued three additional proposed rules that would expand the reach of the agency’s current cybersecurity guidance to new entities and augment existing cybersecurity compliance obligations.