FACT Submits Statement for Key FinCEN Oversight Hearing
FACT’s statement to House Financial Services outlines priorities for implementing beneficial ownership reform and strengthening anti-money laundering rules
Lawmakers, Civil Society, and States Look for Faster Pace on Beneficial Ownership Reform: April 26
This month, Treasury Secretary Yellen appeared before the House Financial Services Committee and responded to concerns over the Corporate Transparency Act’s (CTA) delayed implementation. In her answer, Yellen assured lawmakers that the second of the CTA’s three required rulemakings would be drafted “this year, in the coming months.”
FACT Urges Critical Transparency Measures for Trusts in Testimony Before Alaska’s Legislature
FACT Policy Director testified before Alaska’s legislature on the harmful impact of the “secrecy rat-race” between states and how Alaska could help to lead the way to transparency.
Now is the Time to Modernize FinCEN: Just the FACTs: April 8
The Kremlin’s continued, barbaric invasion of Ukraine has shone a light on the paramount importance of providing support for sanctions enforcement and closing the blindspots to corrupt and illicit flows in our financial system. Underfunding and understaffing threaten to take the bite out of sanctions and give Putin cover from the West’s best financial tools to counter Russia’s illegal aggression.
FACT Submits Comment to the SEC to Amend Form PF and Secure the U.S. Financial System
Requiring private fund advisers to conduct and report basic customer due diligence is key for defending U.S. financial markets from bad and corrupt actors.
The Russian Invasion of Ukraine: Just the FACTs: March 21
Reforms advocated for by FACT, including those pertaining to beneficial ownership of anonymous shell entities, removing opacity from the U.S. real estate, private investment, and other luxury goods markets, and promoting greater tax transparency can bring the economic weight of new sanctions to bear. The U.S. must work expediently with its allies to permanently close financial gateways for Russia’s political elite to hide and grow their illicit wealth.