July 9, 2024
New Reporting Requirement for Beneficial Owners
In the National Defense Authorization Act (NDDA), enacted by Congress on 1 January 2021, the U.S. Treasury Department (Treasury) was directed to establish a national registry of beneficial owners of companies operating in the United States. As a result, on 1 January 2024, Treasury launched a website under https://www.fincengov.boi to implement the new “beneficial ownership” reporting requirement, as called for in the Corporate Transparency Act (CTA),
November 13, 2023
GAO Files Annual Report to Congress
The General Accountability Office (GAO) filed its annual report to Congress summarizing the protest filings made during the fiscal year from October 1, 2022 thru September 30, 2023. According to the report, dated October 26, 2023, the GAO received 1,957 protests, 38 cost claims and 30 requests for reconsideration. In comparison to the previous fiscal year, the protest filings increased 22 percent. The report notes that a “significant number” of protests were not decided on the merits by
July 28, 2023
New FAR Clause Restricting “Tik Tok” App
On June 2, 2023, the Federal Acquisition Regulatory Council issued a new contract clause prohibiting use of the ”Tik Tok” social networking application on “information technology” owned or managed by the Federal Government. The clause, entitled “Prohibition on a ByteDance Covered Application (Jun 2023)”, is contained in the Federal Acquisition Regulation (“FAR”) under FAR 52.204-27. Government contractors can expect Federal Agencies to add the new clause to existing contr
October 14, 2022
Enhanced Postaward Debrief Procedure
Following issuance by the Department of Defense of Final Rule No. 87 FR 15808 in March of 2022, unsuccessful offers on negotiated contracts, task and delivery orders valued at more than $10 million are able to submit follow-on questions related to a “required” post-award debriefing provided by the procuring Agency. Under the new procedures set forth in the Final Rule, the procuring Agency shall provide unsuccessful offerors “an opportunity to submit additional written questions related to
