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MagStone News
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Proposed California Bill to Increase Fines for Corporate Offenders
September 24, 2024 California lawmakers are advancing Assembly Bill 2432 (AB 2432), which aims to impose harsher penalties on corporations convicted of felonies and misdemeanors. -
New Executive Order on Protecting Personal Data and U.S. Government-Related Data
September 24, 2024 President Biden recently signed Executive Order 14117, titled "Preventing Access to Bulk Sensitive Personal Data and Government-Related Data of the United States by Countries of Concern," directing the U.S. Department of -
Federal Salary Threshold Increases to Take Effect in July This Year and January Next Year
September 24, 2024 The U.S. Department of Labor (DOL) has announced significant updates to the federal salary thresholds for exempt employees. These changes will be implemented in two phases, taking effect on July 1, 2024, and January 1, 2025, respectively. -
FinCEN Clarifies That Dissolved Entities Are Still Required to File Beneficial Ownership Information (BOI) Reports
September 24, 2024 On July 8, 2024, the Financial Crimes Enforcement Network ("FinCEN") updated its Frequently Asked Questions ("FAQs") (see items C.12-C.14 and D.17) to clarify that the Beneficial Ownership Information ("BOI") -
California Court Rules Assembly Bill 979 Unconstitutional
September 10, 2024 On April 1, 2022, the Los Angeles County Superior Court in California ruled in Robin Crest, et al. v. Alex Padilla ("Crest Case") that Assembly Bill 979 (signed into law on September 30, 2020) violates the Equal Protection Clause of the -
SEC Proposes Rules to Enhance Disclosure and Investor Protection Related to Special Purpose Acquisition Companies (SPACs), Shell Companies, and Projections
September 10, 2024 On March 30, 2022, the U.S. Securities and Exchange Commission (SEC) proposed new rules and amendments to enhance disclosure and investor protection in initial public offerings (IPOs) by special purpose acquisition
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