On July 1, 2023, a new Florida law (Senate Bill 264) went into effect, restricting foreign investment in Florida real estate from specific countries, and enacting a near-ban on property purchases by Chinese, Russian and other foreign nationals.

On March 6, 2024, the U.S. Securities and Exchange Commission (SEC) released its long-awaited final climate-related disclosure rule for U.S. public companies. This groundbreaking regulation mandates that publicly traded companies provide information in their annual reports and registration statements regarding the climate risks they face, their plans to address those risks, the financial impact of severe weather events, and, in certain circumstances, greenhouse gas emissions originating from their operations.

In Zephyrus Aviation Capital, LLC, et al vs. Berkshire Hathaway International Insurance Limited, et al., Case No. CACE-23002230 (17th Jud. Cir. FL, June 30, 2023), the plaintiffs, aviation leasing, servicing, and management companies, brought suit seeking coverage for the alleged loss of use and possession of the aircraft resulting from the Ukraine crisis.

On March 1, 2024, a federal district court in the Northern District of Alabama, Northeastern Division, entered a final declaratory judgment in the case of National Small Business United v. Yellen, No. 5:22-cv-01448 (N.D. Ala.) declaring the Corporate Transparency Act (the “CTA”) unconstitutional. The Court concluded that the CTA exceeded Congress’s constitutional powers and permanently enjoined FinCEN from enforcing it against the plaintiffs. The judgment has left many questioning its impact, wondering whether they should continue to report beneficial ownership to FinCEN or wait for final disposition of the case.

On February 23, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), U.S. Department of State, and U.S. Department of Commerce announced significant new Russia-related sanctions on more than 500 entities.

On February 14, 2024, the New York Supreme Court, Appellate Division, First Department in Hasan v. Terrace Acquisitions II, LLC, 2024 N.Y. App. Div. LEXIS 805 (1st Dept. 2024) upheld the dismissal of a case alleging a failure to diagnose, treat, and prevent COVID-19 in a nursing home under New York’s now-repealed Emergency or Disaster Treatment Protection Act (“EDTPA”) (formerly Public Health Law 3082). The First Department now joins the Second, Third, and Fourth Departments in extending immunity from civil liability to any person or entity providing healthcare services related to COVID-19 between March 7, 2020 and April 6, 2021.

On January 24, 2024, the U.S. Securities and Exchange Commission (“SEC”) adopted new rules relating to initial public offerings (“IPOs”) of special purpose acquisition companies (“SPACs”) and the subsequent combination of SPACs with target companies (“de-SPAC transactions”). The new rules adopted by the SEC seek to enhance disclosures and provide additional investor protections in SPAC and de-SPAC transactions.

Following President Biden’s October 2023 Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence, governmental agencies, including the Department of Justice (DOJ), have made artificial intelligence (AI) a top priority. Companies and individuals should take note.