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SBA Issues Final Rule On WOSB Contracting Program But Has Yet To Identify Eligible Industries

Client Alert | 1 min read | 10.07.08

On October 1, 2008, the Small Business Administration issued both a proposed (http://www.crowell.com/PDF/Fed-Register_Vol73-No191_Proposed.pdf) and a final rule (http://www.crowell.com/PDF/Fed-Register_Vol73-No191_Rules-Regs.pdf) regarding the Women-Owned Small Business (WOSB) contracting program. While the long-awaited final rule makes a few changes to the December 27, 2007, proposed rule, including clarifying that a contracting officer may award a contract or begin performance after receipt of a protest after determining that an award is necessary to protect the public interest, the final rule dodges the key issue and fails to identify those industries where set-aside acquisitions are authorized based on WOSB underrepresentation, and, instead, in the proposed rule, the SBA seeks comments on or before October 31, 2008, on the underlying data used to determine WOSB underrepresentation, including data identifying 31 NAICS codes in which WOSBs were either underrepresented or substantially underrepresented.

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Client Alert | 3 min read | 09.15.25

Senate Finance Committee Looking to Take White River to the Train Station, Confirms DOJ Investigation into Tribal Tax Credits

On August 19, 2025, the U.S. Senate Committee on Finance (“Senate Finance Committee”) sent Paul Atkins, Chairman, U.S. Securities and Exchange Commission (“SEC”) a letter calling on the SEC to investigate White River Energy Corp (“White River”). In the letter, the Senate Finance Committee confirmed a criminal investigation into White River related to the sale of so-called “tribal tax credits” that according to both Congress and the IRS, do not exist. The letter further states that White River allegedly earned millions of dollars selling these credits and has not been forthcoming with investors regarding the existence of the criminal investigation. According to the Senate Finance Committee, White River has failed to file financial disclosure documents with the SEC since March 15, 2024, missing six consecutive reporting periods. The letter instructs White River to disclose the existence of the DOJ criminal tax investigation, and calls on the SEC to take action if White River fails to do so....

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