31–40 of 45 posts
A Texas court just enacted a nationwide injunction on this. https://www.texasattorneygeneral.gov/news/releases/nationwid...
Ken Paxton brings lawsuits against everything, though. Does this one have any merit?
To win a preliminary injunction you must show:
1. Likelihood of success on the merits
2. Irreparable harm without it
3. Balance of harms favors you
4. Injunction is in the public interest.
Earlier quoted context omitted.
Ken Paxton brings lawsuits against everything, though. Does this one have any merit?
Do you think a judge would grant a preliminary injunction without merit? To win a preliminary injunction you must show: 1. Likelihood of success on the merits 2. Irreparable harm without it 3. Balance of harms favors you 4. Injunction is in the public interest.
It's likely to end up becoming law eventually. The requirements of this rule are not burdensome and they are directly related to the laws that FinCEN was created to enforce.
Also, we have information exchange treaties with multiple countries that require us to collect some of this information. We haven't been upholding our end of those treaties and this law was intended to bring us toward compliance.
Earlier quoted context omitted.
Do you think a judge would grant a preliminary injunction without merit? To win a preliminary injunction you must show: 1. Likelihood of success on the merits 2. Irreparable harm without it 3. Balance of harms favors you 4. Injunction is in the public interest.
Or find a judge who will disregard that and rule on ideological grounds regardless of the facts and law...
Earlier quoted context omitted.
Ken Paxton brings lawsuits against everything, though. Does this one have any merit?
Do you think a judge would grant a preliminary injunction without merit? To win a preliminary injunction you must show: 1. Likelihood of success on the merits 2. Irreparable harm without it 3. Balance of harms favors you 4. Injunction is in the public interest.
Earlier quoted context omitted.
I just filled out the form. It’s very straightforward and doesn’t require registering for login.com. The bigger issue is knowing that it’s needed. I wouldn’t have known about it without seeing this post on HN.
Yeah, this is the first I've heard of ownership information needing to be filed--but I don't have any LLCs to file for, anyway. Reading what the AG said about it he seems to feel it's a major intrusion for the government to require identifying the owners. I think that's what this is about--exposing the shell corporations. And of course the people who are keeping dirty books won't like that.
Earlier quoted context omitted.
Do you know what the BFOI requires? I just filled one out this morning. It's literally just the names and govID numbers of the beneficial owners. All the info you need is a picture of the driver's license for each owner. That's it. Not a single figure. No percentage of ownership or shares etc. Requires absolutely zero accounting. Also, the website requires no login, lessening the burden. (Actually for a gov website I…
Many accountants are worried about the risk of filing for their clients and won’t do it at all. Determination of ownership is not as straightforward as one might assume in many cases.
A Texas court just enacted a nationwide injunction on this. https://www.texasattorneygeneral.gov/news/releases/nationwid...
How?