FACT welcomes Treasury’s release of draft regulations introducing common-sense anti-money laundering safeguards for the U.S. private investment industry. The draft rule builds upon a slew of recent moves by Treasury to protect U.S. markets from dirty money.
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.
FACT welcomes the release by Treasury of much-needed draft reforms closing loopholes that have, for decades, allowed international and domestic bad actors to launder money through U.S. real estate markets.
A former top Treasury official laid out the case for public country-by-country reporting requirements for U.S. multinationals at a recent Senate Budget Committee hearing, and a long-awaited rule introducing anti-money laundering responsibilities for investment advisors is now under regulatory review.
Treasury begins accepting ownership information reports under the Corporate Transparency Act, the Foreign Extortion Prevention Act is signed into law, and the Biden Administration provides an update on long-awaited AML reforms for real estate and private investment markets.