By Jack Polales On August 14, 2026, FinCEN adopted its Interim Final Rule (“IFR”) on Beneficial Ownership Information Reporting (“BOIR”), which had been in place since March 26, 2025. Two pivotal provisions of the IFR are now final. First, domestic reporting companies, and by extension the owners of those companies, are exempted from all reporting requirements. The Final Rule also expands on the IFR in that U.S. persons will not be required to update or correct information previously provided to FinCEN. The second major provision adopted is that U.S. persons
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Good news for commercial lenders and those in other business contracts, with a word of caution. On July 21, 2025, the California Supreme Court held in EpicentRx, Inc. v. Superior Court of San Diego that an exclusive forum selection clause designating the Delaware Court of Chancery (where civil jury trials are unavailable) is not automatically barred by California’s public policy favoring jury trials. This ruling reverses the troubling Court of Appeal decision in Handoush v. Lease Financing Group, LLC (2019) 41 Cal App.5th 729, which refused to enforce a New
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By Jack Polales Current Status of Beneficial Ownership Information Reporting: Enforcement Suspended. As of publication of this article FinCEN has stated that it will not issue fines or penalties, or take any other enforcement actions by the currently set March 21, 2025 Beneficial Ownership Information (“BOI”) reporting deadline. No later than March 21, 2025 FinCEN intends to issue a rule to extend reporting deadlines. The United States Department of the Treasury, in a March 2, 2025 press release, provided further guidance, stating that after the upcoming FinCEN rule changes the
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We are pleased to announce that Jadene Tamura has become a Shareholder of the firm and has been appointed Co-Chair of the Trusts & Estates Practice Group. Jadene will lead the group with Co-Chair Steven Platt. The goal of Parker Milliken’s estate planning, administration, and litigation practice group is to ensure that their client’s wealth – whether large, small, or in between – is transferred smoothly and efficiently. Jadene has specialized in Trusts & Estates throughout her career, being drawn to the practice because of its applicability to individuals from
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Southern California has been devastated by the recent wildfires.  Yet, wildfires aren’t the only natural disasters that threaten this region – earthquakes, floods, and landslides also serve as stark reminders of the importance of protecting your property and assets.  As Southern California property owners begin the difficult process of assessing their losses and submitting insurance claims, we are now hearing stories of some insurance companies denying claims where the property was transferred into a revocable trust*, but the trust was never added as an additional insured to the policy.  To
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Gary Tokumori was recently elected Judicial Endorsements Chair of the Los Angeles County Unity Bar, an alliance of nine local bar associations dedicated to ensuring access to justice and the recommendation of highly qualified candidates to the bench who reflect the vibrancy of the community served.
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