EDGE Legal

🔴🚨 KEY LEGAL NEWS ALERT: Federal Court Blocks Enforcement of the Corporate Transparency Act (CTA filings) Nationwide! 🚨 🔴 A federal judge of the U.S. District Court for the Eastern District of Texas issued a preliminary injunction 𝐡𝐚𝐥𝐭𝐢𝐧𝐠 the enforcement of the Corporate Transparency Act (CTA). The CTA would have mandated that millions of companies disclose sensitive ownership information to the federal government by January 1, 2025. This ruling comes just weeks before the compliance deadline, providing a significant reprieve for small businesses 𝐧𝐚𝐭𝐢𝐨𝐧𝐰𝐢𝐝𝐞. The court found that the CTA likely exceeds Congress's constitutional powers and poses a substantial threat to the privacy rights of business owners. The Judge emphasized that it represents an overreach of federal authority into state matters.   👀 𝐈𝐦𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐮𝐥𝐢𝐧𝐠: • Suspension of Reporting Requirements: As a result of this ruling, no entity is currently required to file beneficial ownership information with FinCEN. • Nationwide Scope: Although the plaintiffs initially sought an injunction limited to themselves and members of the National Federation of Independent Business, the court granted a nationwide injunction that affects approximately 32.6 million domestic and foreign reporting companies. • Potential Appeal: The U.S. Government has not yet indicated whether it will appeal this decision. If an appeal occurs, it will be heard by the U.S. Court of Appeals for the Fifth Circuit. 👉 𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬 𝐟𝐨𝐫 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐞𝐬: • Monitor Compliance Updates: Companies subject to the CTA should keep an eye on FinCEN’s announcements regarding compliance deadlines and any changes to reporting requirements. • Reassess Reporting Obligations: Businesses that have already filed reports may need to reconsider their obligations to provide updates on previously filed information due to the injunction. • Watch for Circuit Split: The potential for differing rulings from various circuit courts could create uncertainty in compliance requirements moving forward.   We're closely monitoring this important development and will provide updates as they become available. At EDGE Legal, we're closely monitoring this situation and ready to guide you through any developments!   #EDGELegal #EDGELegalConnect #CorporateTransparencyAct #LegalUpdate #BusinessCompliance

We are so excited! 🤩 ☀️ #MovingForward #EDGELegal #Innovation #GLARM2025

Shaping the future of AI, one global connection at a time—from San Juan to Hong Kong! 🤩 💙 🚀 #EDGELegal #EDGELegalConnect #Global #HongKong #AI #LegalInnovation Oldham, Li & Nie Globalaw

We are ready! 👏 🤩 #BeBold #EDGELegal

During this season of gratitude, we want to express our heartfelt thanks for your trust and continued support. We wish you a happy Thanksgiving filled with joy, love, and cherished moments with your loved ones. 🦃 🧡 Please note that our office will be closed on Thursday, November 28, and Friday, November 29. We will resume regular operations on Monday, December 2! Happy Thanksgiving from the EDGE Legal Team. 💙

Our Managing Partner, Eliseo Roques-Arroyo, took the stage at the 1st Legal Technology Conference hosted by the Colegio de Abogados y Abogadas de Puerto Rico He shared insights into the principles and foundational concepts of AI, sparking a conversation about its transformative potential in the legal field. 📊 Did you know? Up to 44% of legal tasks could be automated with the right AI tools. The future of law isn’t just about practicing—it’s about innovating. As technology reshapes the profession, education and adaptability are the keys to staying ahead. What’s your take? Is AI the next big innovation for the legal world, or does it pose challenges we need to tackle first? Let’s hear your thoughts below! 👇

😎 👏 We are so proud of you! #Growth #Achievement #USDistrictCourt

Join us in celebrating attorney Adriana M. Vega Hernández's anniversary with EDGE Legal! 💙 🌟Here’s to another year of achievements, growth, and all the remarkable things she’s yet to accomplish. Thank you for all that you do! #EDGELegal #Anniversary #EmployeeMilestone #Celebrating

Our Managing Partner, Eliseo Roques-Arroyo, was recently invited to participate as a panelist at the 2024 SOMOS, Inc. (fka Somos el Futuro, Inc.) Conference! Pablo Segarra, Esq., joined the panel, which was moderated by New York State Assemblyman Brian-Christopher Cunningham. The panel explored the opportunities, benefits, and risks of using blockchain and AI. The discussion was interactive and engaging and sparked meaningful conversations on how these cutting-edge technologies can revolutionize business functions, create new opportunities for SMEs, not-for-profit organizations, and the public sector, and improve access to justice, all while addressing the associated risks. A huge thank you to SOMOS, Inc. (fka Somos el Futuro, Inc.) and the Assemblyman for hosting this engaging and important discussion! #EDGELegal #EDGELegalConnect #Blockchain #ArtificialIntelligence #Business Sherry Levin Wallach #LegalInnovation New York State Bar Association New York State Assembly

Today, we honor and thank all veterans for their service, courage, and sacrifice. Happy Veterans Day! #VeteransDay