FACT provides Senate testimony twice in one week, and Treasury’s new draft rules for real estate transactions and investment advisers draw the U.S. closer to shedding it’s status as the world’s number-one destination for dirty money.
The Treasury has appealed a recent federal court ruling finding the landmark Corporate Transparency Act unconstitutional, as urged by FACT and other transparency advocates.
Treasury says it will continue ownership information reporting after legal setback in Alabama, and FACT provides comments on Australia’s revised public country-by-country reporting draft legislation.
While Australia’s revised public country-by-country reporting draft legislation walks back the original measure’s ambitious scope, it still represents a meaningful step forward for multinational tax transparency.
Read FACT’s official statement for the record highlighting the critical work of Treasury’s Financial Crimes Enforcement Network, including its ongoing efforts to implement the Corporate Transparency Act and finalize strong rules curbing money laundering through U.S. real estate and private investment markets.
Treasury advances long-awaited anti-money laundering rules for U.S. real estate, and the European Union dramatically expands access to beneficial ownership registries, among other AML reforms.
