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FOCI Mitigation: SSAs, SCAs and Proxy Agreements

Source: JDSupra


The 11th episode of "Are We All Clear? Facilitating Security Clearances" explores the role of outside directors and proxy holders within the National Industrial Security Program Operating Manual (NISPOM) framework and their significance in insulating a cleared company from its foreign owners. Host Molly O'Casey and International Trade attorney Antonia Tzinova discuss practical approaches to the selection, employment and accountability of these positions, as well as delve into the broader context of Foreign Ownership, Control or Influence (FOCI) mitigation to protect U.S. national security interests.


Click HERE to listen to the podcast

Corporate Transparency Act Update

Source: PilieroMazza


The Corporate Transparency Act (CTA), which came into effect on January 1, 2024, has significant implications for government contractors, tribal entities, and commercial businesses.


If you formed an entity before January 1, 2024, and are not subject to one of the exemptions, you must file your initial Beneficial Ownership Information Report (BOIR) no later than January 1, 2025. If you formed an entity on or after January 1, 2024, and are not subject to one of the exemptions, you must file your initial BOIR within ninety (90) days from the effective date of creation or registration of the entity. If you form an entity on or after January 1, 2025, and are not subject to one of the exemptions, you must file your initial BOIR within thirty (30) days from the effective date of creation or registration of the entity.


Click HERE for the full article


SBA Certifications Update

Source: SBA


GREAT NEWS! The new SBA certification portal, MySBA Certifications, is now open.


The U.S. Small Business Administration is now accepting applications for VetCert, HUBZone, Women-Owned and Economically-Disadvantaged Women-Owned, and 8(a) small business certifications.


If you have an account in the MySBA loan portal or VetCert, you can log in with that account email and password.


If you have an existing account for HUBZone, WOSB or EDWOSB, or the 8(a) program, you must create a new account to apply.


To report a change to your business for a current certification, use the VetCert, HUBZone, WOSB or EDWOSB, or 8(a) program websites.


Entity-owned firms cannot apply for certification yet, but that application will be coming soon.



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