In this client alert, Warshaw Burstein Managing Partner Fred Cummings and Partner/ Chair of the Tax Law Group Jason Diener provide year-end updates on the Corporate Transparency Act, whose rules requiring disclosure of entity beneficial ownership are set to take effect in January.

Warshaw Burstein, LLP today announced it has added several additional attorneys and the Family Law and Tax (Private Client) practice areas to its membership in IR Global, a multi-disciplinary professional services network that provides legal, accountancy, and financial advice to companies and individuals internationally.

IR Global, a multi-disciplinary professional services network consisting of firms that provide legal, accounting, and financial advice to companies and individuals around the world, recently held an “On the Road” conference in Boston, Massachusetts.

Frederick R. Cummings, Jr. Was Recently Appointed to the EALG Management Committee

Fred Cummings was recently interviewed as the managing partner of Warshaw Burstein for a business of law story on law.com.

The Euro-American Lawyers Group (EALG) has appointed Frederick R. Cummings, Jr., the firm’s Managing Partner, to its Management Committee.

U.S. Treasury Department's Financial Crimes Enforcement Center unit rules governing the disclosure of beneficial ownership information are currently set to become effective January 1, 2024. The new rules contain ambiguities regarding certain fundamental definitions, and do not definitively resolve issues regarding access to the beneficial owner information reported as well as mechanical aspects of the reporting procedures.

Frederick R. Cummings, Jr., Managing Partner, and Jordan Kohn, attorney, advised the seller on the recent sale of the Rye Record, a well-read, long-established local publication in Westchester County, New York. The sale enables this local newspaper to continue publication.

In a recent Risk Alert, the Division of Examinations of the SEC provided guidelines explaining how it utilizes a risk-based approach for selecting SEC-registered investment advisers to examine and for determining the risk areas to examine. If you have any questions concerning how to prepare or organize for an SEC examination, please contact Meryl Wiener or your regular Warshaw Burstein attorney.

Earlier this year, the SEC staff issued a bulletin setting forth standards of conduct for broker-dealers and investment advisers with respect to their respective care obligations when providing investment advice and recommendations to retail investors (the “Bulletin”).

Warshaw Burstein, LLP today announced it has joined IR Global, a multi-disciplinary professional services network that provides legal, accountancy, and financial advice to companies and individuals around the world.

On February 7, 2023, the SEC’s Division of Examinations announced its examination priorities for 2023. Examination priorities are released annually and provide investors and registrants with transparency into those areas that DOE believes bring heightened risks to investors, registrants and to the integrity of the U.S. capital markets.

Managing Partner Fred Cummings spoke with American Lawyer about how law firms are preparing for the anticipated process and procedure changes to immigration law under the Biden administration.

On August 26, 2020, the Securities and Exchange Commission (SEC) adopted amendments to the “accredited investor” definition in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended, that update and improve the accredited investor definition. The purpose of the amendments is to better identify investors that have sufficient knowledge and expertise to participate in investment opportunities that do not have the rigorous disclosure and procedural requirements and related investor protections, provided by registration under the Securities Act. The amendments are substantially as proposed by the SEC on December 18, 2019.

Managing partner Fred Cummings was quoted in an American Lawyer article on how virtual interviews have sped up the lateral hiring process in the legal industry. Fred noted that the firm has made lateral hires in the areas of intellectual property and tax, and how even though the firm’s candidates are New York-based, arranging candidate meetings virtually has accelerated the interview process.
 
Fred noted that he expects many attorneys will likely continue to work from home to some extent even after a return to the workplace is possible and that meeting virtually is going to become part of the recruiting process just like it has become an element of every other part of our practice.  
 
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If you have already received a PPP loan, the PPP Flexibility Act will not allow you to apply for or receive a second loan. With respect to loans applied for after enactment of the PPP Flexibility Act, although the covered period has been extended to 24 weeks, there has been no change to the maximum loan amount that can be borrowed under the PPP - it remains 2.5 times a borrower's one-month average payroll cost, as determined under the existing PPP application.

We would like to extend our sincerest appreciation to anyone who attended yesterday's webinar, Back to Business: Navigating the New Normal with Felicia Ennis, Chair of our Employment Law practice, and Frederick Cummings, Jr., Chair of our Corporate Law practice and our Managing Partner. We hope that you found the webinar informative and that it provided a jumping-off point for your own reopening plan. If you should have any questions, please do not hesitate to reach out to us.  

View a replay of the webinar.  

Join us for a one-hour live webinar on how to welcome your employees back to work in a post-COVID-19 workplace featuring Felicia Ennis, Chair of our firm's Employment Law practice, and Fred Cummings, Chair of our Corporate practice and our Managing Partner.