The discretion of the Securities and Exchange Commission to use its own in-house judges to hear cases was dealt a body blow on May 18 by the U.S. Court of Appeals for the Fifth Circuit. That Court determined that defendants in such cases are deprived of their Seventh Amendment right to a jury trial, and
On January 1, 2021, Congress passed the National Defense Authorization Act for Fiscal Year 2021. Included among its provisions is the Corporate Transparency Act (CTA), which, in short, requires qualifying businesses to disclose so-called “beneficial owners.” The purpose undoubtedly is to root out shell companies that avoid detection, regulation or enforcement through complex, opaque ownership