The Cleary Gottlieb M&A Telegram published at the end of the first quarter of 2025 confirms:
- Signs of an upturn in the M&A market 2025.
- Uneasy capital markets.
- Focus on the defense industry.
Cleary M&A and Corporate Governance Watch
Mergers and Acquisitions, Corporate Governance, Shareholder Activism
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Latest from Cleary M&A and Corporate Governance Watch
FinCEN Eliminates CTA Requirements for All U.S. Companies and U.S. Individuals
As discussed in our last Corporate Transparent Act (CTA) update, the U.S. Treasury Department announced on March 2 that it planned to issue an interim rule excluding U.S. companies and citizens from CTA reporting obligations. The Financial Crimes Enforcement Network (FinCEN) has now done so, limiting the scope of the CTA to non-U.S. parties.…
Trump Administration Proposes Eliminating CTA Requirements for All U.S. Companies
We noted in our last Corporate Transparent Act (CTA) update that on February 27, 2025, the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Treasury Department, announced that it would not take any enforcement actions against any company that does not file or update beneficial ownership information required under the CTA until after…
FinCEN Pauses All CTA Filing Obligations and Will Issue New Rules
Amid various ongoing litigation concerning the constitutionality of the Corporate Transparency Act (CTA), the U.S. Financial Crimes Enforcement Network (FinCEN) had announced on February 19, 2025, that it was extending the CTA beneficial ownership information filing deadline for most companies to March 21, 2025 (see Client Alert here). Now, FinCEN has taken a…
Remaining Injunction Pausing Corporate Transparency Act is Lifted; FinCEN Extends General Filing Deadline to March 21; Statute’s Future Remains Uncertain
As previously reported (see CTA client alert), on January 23, 2025, in Texas Top Cop Shop v. Bondi, the U.S. Supreme Court stayed an injunction barring enforcement of the Corporate Transparency Act (CTA), but a different Texas trial court’s injunction remained in place. On February 18, that second court, in Smith v. United…
Trump Administration Continues Defense of Corporate Transparency Act, Indicates FinCEN’s Flexibility On Deadlines And Scope
As of our last client update on the Corporate Transparency Act (CTA) litigation (see CTA client alert), the U.S. Supreme Court, in an 8-1 ruling, lifted a nationwide injunction issued by a Texas trial court in Texas Top Cop Shop v. Bondi that had blocked CTA enforcement, but another nationwide injunction issued by…
Trade Controls: Recent Developments and Changes on the Horizon for 2025
The following is part of our annual publication Selected Issues for Boards of Directors in 2025. Explore all topics or download the PDF.
The second Trump Administration is expected to mark the return of a more transactional foreign policy approach, with an openness to dealmaking supported by the aggressive use (or threat) of trade controls. Boards…
The Current Tax Risk Environment and Best Practices for Managing It
The following is part of our annual publication Selected Issues for Boards of Directors in 2025. Explore all topics or download the PDF.
2025 begins with a continuation of the major tax trends emerging in the post‑Covid era: more aggressive audits by tax authorities in search of additional revenue, increased international cooperation between tax authorities,…
2025 UK and European Capital Markets Update: “All Change!”
The following is part of our annual publication Selected Issues for Boards of Directors in 2025. Explore all topics or download the PDF.
UK and European capital markets underwent significant reform in 2024. The UK Financial Conduct Authority (FCA) overhauled the UK listing regime and implemented new listing rules (UKLRs) as part of the UK…
Cybersecurity Disclosure and Enforcement Developments and Predictions
The following is part of our annual publication Selected Issues for Boards of Directors in 2025. Explore all topics or download the PDF.
The SEC pursued multiple high profile enforcement actions in 2024, alongside issuing additional guidance around compliance with the new cybersecurity disclosure rules. Together these developments demonstrate a continued focus by the SEC…