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An update on the US Corporate Transparency Act Publish Date·5/5/2025 2:33:18 PM

An update on the US Corporate Transparency Act

<p></p> <hr /> <p></p> <p><span style="font-size: medium;">Back in 2023, we wrote about of the enactment of the <a href="https://www.ablglobal.net/Article/united-states-corporate-transparency-act.html">Corporate Transparency Act (CTA)</a> and the obligation imposed on all entities organized under the laws of the United States and/or foreign entities conducting business in the United States (with certain exceptions such as non-for-profits and public companies, among others) to file the Beneficial Ownership Information (BOI) report starting in January 2024. Having entered into effect, millions of companies filed the BOI report, disclosing the shareholders with over 25% ownership and individuals with control over the companies&rsquo; decision-making process, but after months of different legal battles challenging the validity and enforcement of the CTA and BOI, on March 21, 2025 the Financial Crimes Network (FinCEN), issued an interim final rule that removes the requirement for US companies and US persons to file the BOI report. This FinCEN rule revises the term &ldquo;reporting company&rdquo; as those entities that are formed under the laws of a foreign jurisdiction and register to conduct business in the United States. Therefore, the long anticipated and short-lived BOI report, will no longer be part of the list of compliance and reporting obligations for US companies. The remaining question is what FinCEN and the Department of the Treasury (i.e. the US Government) will do with the information gathered from the millions of companies and individuals while the BOI was in effect.&nbsp;</span></p> <p>&nbsp;</p> <p>&nbsp;</p> <p>Article by Andres Bazo, Foreign Legal Consultant at Rasco Klock Perez &amp; Nieto, P.L.</p>
What the Future of Jobs Report 2025 Means for the Legal Profession Publish Date·4/10/2025 4:31:52 PM

What the Future of Jobs Report 2025 Means for the Legal Profession

<p style="text-align: left;"><br /><span>&nbsp;</span></p> <p style="text-align: left;">The <a href="https://www.weforum.org/publications/the-future-of-jobs-report-2025/digest/?gad_source=1&amp;gclid=Cj0KCQjw2N2_BhCAARIsAK4pEkWC_a8Mc3snZexDjGMo9MHudT4OZP97vm8Hh9vpH-rwcxFNPUf_bEoaAja9EALw_wcB">Future of Jobs Report 2025</a>, published by the World Economic Forum earlier this year, provides insight into how major global trends are expected to shape labor markets between now and 2030. Based on input from over 1000 employers across 55 economies and 22 industries, the report identifies the main forces in job creation and displacement, outlines shifts in skills demand, and highlights strategic workforce responses from businesses.</p> <p style="text-align: left;">For legal professionals, this report offers a useful lens through which to examine the broader changes that may influence the future of law, both in terms of how legal services are delivered and the nature of the legal work itself.</p> <h4 style="text-align: left;">&nbsp;</h4> <h4 style="text-align: left;"><b>1.&nbsp;&nbsp;&nbsp;&nbsp; </b><b>AI, Automation and the Legal Sector</b></h4> <p style="text-align: left;">Technological change is the most cited driver of business transformation, with <b>86% of employers expecting AI and information processing technologies to reshape their operations by 2030</b>. While much of the public conversation on AI focuses on its impact in industries such as finance, healthcare or logistics, law is equally exposed.</p> <p style="text-align: left;"><b>Generative AI is already being integrated into tasks such as legal research, document review and contract drafting</b>. As these tools become more reliable and accessible, law firms and legal departments may adopt them to improve efficiency and reduce costs. This will likely shift expectations for junior lawyers and support staff, where routine work can increasingly be handled by machines.</p> <p style="text-align: left;">Administrative roles within the legal sector are among those projected to decline. The report specifically lists legal secretaries and administrative assistants as part of a broader group of clerical functions that may be reduced as automation and AI tools mature.</p> <h4 style="text-align: left;">&nbsp;<br /><span>&nbsp;</span></h4> <h4 style="text-align: left;"><b>2.&nbsp;&nbsp;&nbsp;&nbsp; </b><b>Legal Skills for a Digital and Secure Economy</b></h4> <p style="text-align: left;">The report highlights a growing demand for skills in <b>cybersecurity, data protection and technology governance</b>. For lawyers, this means more client work related to digital compliance, AI regulation, and cyber incident response.</p> <p style="text-align: left;">Information security analysts are among the fastest-growing roles, and this corresponds with <b>new legal considerations around data handling, intellectual property in digital spaces, and cross-border data flows</b>. Legal professionals who stay informed about regulatory developments in these areas may find growing opportunities in advising both startups and established enterprises.</p> <p style="text-align: left;"><br /><span>&nbsp;</span></p> <h4 style="text-align: left;"><b>3.&nbsp;&nbsp;&nbsp;&nbsp; </b><b>Advising Clients in a Fragmented Global Economy</b></h4> <p style="text-align: left;">Geopolitical tensions and shifts in trade and investment policy are expected to influence a wide range of industries. Nearly a quarter of employers anticipate increased restrictions on global trade to impact their business, and one in five expect industrial policies and subsidies to shape their operations.</p> <p style="text-align: left;">For the legal sector, this <b>reinforces the importance of expertise in international trade law, foreign direct investment regulation and government relations</b>. As businesses restructure supply chains, manage sanctions exposure or seek to localize operations, lawyers with regional and cross-border knowledge will be in demand.</p> <h4 style="text-align: left;"><br /><span>&nbsp;</span></h4> <h4 style="text-align: left;"><b>4.&nbsp;&nbsp;&nbsp;&nbsp; </b><b>Green Regulation and the Legal Role in the Transition</b></h4> <p style="text-align: left;">The green transition is another central driver in the report. Nearly half of employers expect emissions reduction efforts to transform their business by 2030, while a similar share expect climate adaptation to have an impact. <b>Legal professionals working in areas such as energy, infrastructure, manufacturing and finance will encounter new regulatory frameworks and client needs</b>.</p> <p style="text-align: left;">This will likely <b>involve work related to environmental compliance, ESG disclosure obligations, project permitting, and sustainable finance</b>. The report notes significant growth in roles such as environmental engineers and renewable energy specialists, sectors that will increasingly require legal guidance as they expand.</p> <h4 style="text-align: left;">&nbsp;<br /><span>&nbsp;</span></h4> <h4 style="text-align: left;"><b>5.&nbsp;&nbsp;&nbsp;&nbsp; </b><b>Shifting Skill Demands and Talent Development</b></h4> <p style="text-align: left;">One of the report&rsquo;s central findings is that <b>39% of workers&rsquo; current skill sets will be outdated by 2030</b>. Legal professionals, like those in many other sectors, will need to continuously adapt to remain effective. <b>Resilience, flexibility and analytical thinking are already considered core skills, and these will continue to be in demand</b>. For lawyers, these traits are relevant when working through regulatory changes, advising clients in uncertain environments or adjusting to new legal technologies.</p> <p style="text-align: left;">The report also identifies the skills expected to increase in use by 2030. These include AI and big data, networks and cybersecurity, and technological literacy. For legal professionals, this signals <b>a growing need to understand how these technologies operate in practice and how they intersect with legal risk</b>. Lawyers involved in data protection, digital contracts, or compliance may benefit from familiarity with cybersecurity frameworks, AI regulation and the legal dimensions of digital infrastructure.</p> <p style="text-align: left;">In addition to technical knowledge, <b>curiosity and lifelong learning are expected to play a key role. Legal training is no longer confined to law school or early career development. Ongoing education, whether formal or informal, will be necessary to keep pace with evolving regulations, new industries, and global trends</b>. Firms that build a culture of continuous learning and encourage skill development beyond traditional legal competencies may be better prepared for long-term change.</p> <h4 style="text-align: left;"><br /><span>&nbsp;</span><span>&nbsp;</span></h4> <h4 style="text-align: left;"><b>6.&nbsp;&nbsp;&nbsp;&nbsp; </b><b>Preparing the Next Generation of Lawyers</b></h4> <p style="text-align: left;">Demographic trends also suggest rising demand for education professionals, including in higher education. As more individuals enter the workforce in emerging economies, the demand for legal education, especially with a focus on interdisciplinary and international content, is expected to grow.</p> <p style="text-align: left;">Legal educators and institutions may see increased interest in programs covering topics such as environmental law, AI and ethics, international trade regulation and comparative law frameworks. Graduates entering the field will need both legal knowledge and digital fluency to remain competitive.</p> <h3 style="text-align: left;">&nbsp;<br /><span>&nbsp;</span></h3> <h3 style="text-align: left;"><b>The Future is Not Near It&rsquo;s Here</b></h3> <p style="text-align: left;">The Future of Jobs Report 2025 offers a timely overview of the forces reshaping the world of work. For lawyers, these are not distant trends. They are already influencing how legal services are delivered, how clients define value and what skills professionals will need to remain effective.</p> <p style="text-align: left;">Responding to these shifts requires more than just internal adjustments. <b>It calls for access to diverse perspectives, shared knowledge and the ability to collaborate across borders</b>. For many firms, being in a global alliance like ABL (Alliance of Business Lawyers) can provide that foundation. ABL connects independent law firms around the world and enables members to exchange insight on regulatory developments, innovation in legal practice and changing client expectations. It also strengthens their ability to offer cross-border support with local insight.</p> <p style="text-align: left;">In a time of accelerated transformation, legal professionals who are part of a trusted global network may be better positioned to adapt, support clients and contribute to shaping the future of legal services. <b>ABL offers a practical and collaborative path to navigate disruption together.</b></p> <hr /> <p><br />Photo by <a href="https://unsplash.com/@mariogogh?utm_content=creditCopyText&amp;utm_medium=referral&amp;utm_source=unsplash">Mario Gogh</a> on <a href="https://unsplash.com/photos/group-of-people-having-a-meeting-VBLHICVh-lI?utm_content=creditCopyText&amp;utm_medium=referral&amp;utm_source=unsplash">Unsplash</a></p>
Interaction Between International Legal Professionals and Investigators – a global minimum standard Publish Date·1/24/2025 4:16:07 PM

Interaction Between International Legal Professionals and Investigators – a global minimum standard

<p><b><br /></b></p> <p><b><br /></b></p> <p><b>Overview of Relationships</b><br /> <br /> International legal professionals often collaborate with professional investigators in contentious business scenarios. This relationship can involve due diligence, background checks, and investigations related to legal proceedings. While these interactions can be essential for gathering evidence and ensuring compliance with legal standards, they also carry potential risks, particularly concerning an individual's privacy and the reputation of the law firms involved.<br /> <br /> <b>Risks to Reputation<br /> </b><br /> Engaging with investigators poses several risks to the reputations of both legal professionals and clients:<br /> <br /> - Privacy Violations: If investigators mishandle personal data or engage in invasive practices without proper justification, it could lead to significant reputational damage.<br /> &nbsp;&nbsp;<br /> - Non-compliance with Data Protection Laws: Legal professionals must ensure that their investigators comply with relevant data protection laws, such as the General Data Protection Regulation. Failure to do so can result in legal repercussions and damage to professional credibility.<br /> <br /> - Public Perception: The public may view the use of investigative services with scepticism, especially if there are perceptions of unethical practices or privacy infringements.<br /> <br /> <b>Mitigating Risks through Good Practice<br /> </b><br /> The ABI UK GDPR Code of Conduct recently approved by the UK privacy regulator, (found <a href="https://ico.org.uk/for-organisations/advice-and-services/codes-of-conduct/register-of-uk-gdpr-codes-of-conduct/the-association-of-british-investigators-limited-uk-gdpr-code-of-conduct-for-investigative-litigation-support-services/">HERE</a>) provides a framework for investigators to operate within legal and ethical boundaries. Here are ways it assists in risk mitigation:<br /> <br /> - Clear Guidelines: The Code outlines roles, responsibilities, and the necessary lawful bases for processing personal data, ensuring investigators are aware of their obligations under data protection law.<br /> <br /> - Data Protection Impact Assessments (DPIAs): The Code emphasizes the necessity of conducting DPIAs when processing personal data that poses a high risk to individuals&rsquo; rights and freedoms. This proactive approach helps identify and mitigate potential risks before they manifest.<br /> <br /> - Legitimate Interest Assessments (LIAs): The guidance on conducting LIAs ensures that investigators weigh their legitimate interests against the rights and freedoms of individuals. This assessment helps in making informed decisions about processing personal data.<br /> <br /> - Transparency and Accountability: Membership in the Code signifies adherence to high standards of data protection, enhancing accountability. This assurance can improve trust between legal professionals and investigators, demonstrating a commitment to ethical practices.<br /> <br /> <b>Code Membership as a Standard of Accountability<br /> </b><br /> Becoming a Code Member signifies a commitment to compliance with the highest standards of data protection and ethical conduct. This status provides several advantages:<br /> <br /> - Enhanced Credibility: Code Membership demonstrates to clients and the public that investigators adhere to stringent data protection standards, thereby improving their professional reputation.<br /> <br /> - Independent Monitoring: The involvement of an independent Monitoring Body (MB) ensures ongoing compliance and accountability, providing further assurance that investigators are managing personal data responsibly.<br /> <br /> - Training and Resources: Code Members receive training and resources that equip them with the knowledge to navigate complex legal landscapes while respecting individual privacy rights.<br /> <br /> In conclusion, the ABI UK GDPR Code of Conduct serves as an invaluable resource for both investigators and legal professionals. By adhering to its guidelines, they can effectively mitigate risks to their reputations while ensuring that individuals&rsquo; privacy rights are respected and protected.</p> <p>More information about the Association of British Investigators can be found here: <a href="http://www.theabi.org.uk/">www.theabi.org.uk</a></p> <p></p> <p>&nbsp;<br /><img src="/images/Pictures/26176312-4e62-4ac9-96e1-1fdba56b13c7.jpg" width="100" height="41" /></p> <p></p> <hr /> <p></p> <p></p> <p><strong><em>This article is part of ABL's collaboration with the Council of International Investigators (CII), offering insights into effective partnerships between legal professionals and investigators. It reflects CII's expertise and dedication to ethical practices.</em></strong></p> <hr /> <p></p> <p></p> <p><strong><i>About the Author:</i></strong></p> <p><i><img src="/images/Pictures/1459420d-8015-42fd-9484-738e3f8824c7.jpg" width="100" height="150" /></i></p> <p><i>Tony Imossi has been a prominent figure in the investigation sector since 1981, specializing in fraud, theft, and litigation support. He provided crucial evidence to the Leveson Inquiry and the House of Commons Home Affairs Select Committee in 2012, advocating for the regulation of private investigations. Internationally recognized, he advised the Hungarian Interior Ministry on licensing and GDPR compliance from 2017 to 2018.<br /> <br /> As a long-standing member of the Association of British Investigators (ABI), Tony was named Investigator of the Year in 1999 and received multiple awards for his service, including the Gold Medal for Excellence from the Joint Security Industry Council in 2004. He served as ABI President and later Chairman, overseeing significant improvements in membership criteria and achieving unique accreditations from the DVLA and the Law Society of England &amp; Wales.<br /> <br /> Tony played a pivotal role in the BSI's drafting of the Code of Practice for investigative services and worked with the Information Commissioner&rsquo;s Office on the ABI UK GDPR code of conduct, approved in October 2024. His contributions have earned him accolades from the World Association of Detectives, culminating in the prestigious Norman J Sloane Memorial Award in 2023.</i><i></i></p>

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