On January 1, 2021, with bipartisan support, Congress enacted the Corporate Transparency Act (“CTA”) as part of the National Defense Authorization Act for Fiscal Year 2021 (“NDAA”) when it overrode former President Trump’s veto of the NDAA. As part of an effort to combat money laundering, the financing of terrorism, and other illicit activities, the CTA requires business entities formed or registered in the United States that fall within the definition of a “reporting company” to disclose beneficial ownership information to the Financial Crimes Enforcement Network (“FinCEN”) of the Department of Treasury. While the purpose of the legislation may be commendable, it casts an extremely wide net and imposes new compliance burdens on businesses beginning in 2024.

LOUISVILLE, Ky.—IFLR1000 has announced that Stites & Harbison, PLLC and attorney James C. Seiffert have been honored in IFLR1000 United States for 2023. Seiffert is ranked as “highly regarded” in the practice areas of banking and finance as well as corporate and mergers and acquisitions.

Join Stites & Harbison for this Signature Event in Lexington for a special evening at Rupp Arena.

LEXINGTON, Ky.—The Bluegrass Area Chapter of the American Red Cross has elected Stites & Harbison, PLLC attorney Brady W. Dunnigan to its Board of Directors. He will serve an initial two-year term.

LOUISVILLE, Ky.—Corporate Counsel has honored Stites & Harbison, PLLC Chair Marjorie A. Farris as a “Managing Partner of the Year” in its 2023 Women, Influence & Power in Law (WIPL) Awards. She is one of six women honored in this category across the country.

LOUISVILLE, Ky.—Stites & Harbison, PLLC is pleased to announce that 101 of its lawyers are included in the 2024 edition of The Best Lawyers in America®.

Andy Jacobs takes a look at 401(k) plan eligibility by part-time employees in this Stites & Harbison Client Alert.

Employment attorney Shannon Hamilton challenges an employer may face when defending an employment matter that involves text messaging as evidence along with other matters in this myLawCLE webinar.

The United States Department of Justice’s Criminal Division (“Division”) announced a new program—called the Compensation Incentives and Clawbacks Pilot Program (“program”)—that will shift the burden of corporate financial penalties away from shareholders and onto culpable corporate employees.

Employment attorneys Robin McGuffin and Kyle Schroader take a look at the Supreme Court's decision on Title VII stating that employers must accommodate employee's religious practices.

Rachel Owsley and Daniel Boswell take a look at what registering to do business in a state may mean in regards to jurisdiction in this Stites & Harbison Client Alert.

Attorney Andy Jacobs explains the Secure 2.0 Act of 2022 and the expanded ability of plan sponsors to self-correct retirement plan errors without IRS approval in this Stites & Harbison Client Alert.

The Sixth Circuit has significantly altered the way in which Fair Labor Standards Act (FLSA) collective actions are to be litigated in Kentucky, Ohio, Tennessee, and Michigan. Attorneys Kyle Schroeder and Robin McGuffin take a look at those changes in this Stites & Harbison Client Alert.

LOUISVILLE, Ky.—Stites & Harbison, PLLC has named attorney W. Thomas Halbleib, Jr., as its Louisville Office Executive Member.

Entities regulated by the Health Insurance Portability and Accountability Act (HIPAA) may be surprised to learn that use of certain online tracking technology may result in inadvertently sharing information protected under HIPAA with unauthorized third parties. On December 1, 2022, the Office for Civil Rights (OCR) at the U.S. Department of Health and Human Services issued guidance with far-reaching implications for HIPAA regulated entities highlighting their HIPAA compliance obligations when using third-party online tracking technologies designed to collect and analyze information pertaining to a user’s interaction with the regulated entity’s webpages and mobile apps.

A client recently received a litigation hold letter from an attorney representing a former employee. It demanded retention and preservation of all “documents and data” relating to or concerning the former employee, their work performance, and termination. The definition of documents and data also included all electronically stored information, “. . . such as e-mail, voicemail, . . . digital audio or video recordings, instant messages, text messages, social media posts, . . . and any other electronic information created, maintained or received by you.”