U.S. Senate Hearing Cues Another Shift Towards Ending Corporate Anonymity
In just the first two months of this year, we have seen anonymous shell companies become a major priority for Washington lawmakers.
Last week, the U.S. Senate Judiciary Committee convened to discuss legislation that would put a stop to the creation of these faceless companies. The hearing, Beneficial Ownership: Fighting Illicit International Financial Networks Through Transparency, marks the third Congressional hearing on this topic in 2018 alone. And, it is the first time that the Senate Judiciary Committee has heard such legislation. This occasion, along with other recent developments, suggests that momentum towards tackling the problems posed by anonymous companies continues to grow.