AP News: Treasury moves forward with database on corporate ownership
Ian Gary, the executive director of the FACT Coalition, called the release of the new rule “a historic moment in the decades long fight to rid the U.S. of dirty money.”
Law360: SEC Eyeing Public Country-by-Country Reporting, Chair says
“We are pleased that Chair Gensler indicated today that the SEC is looking at the need for increased tax and financial reporting by big multinational companies to inform investors and other stakeholders,” said FACT Executive Director Ian Gary.
Bloomberg Tax: Investors Fly Blind Without Public Country-by-Country Reports
Without public country-by-country reporting, investors have little knowledge about the tax strategies of companies they own and the degree to which they may be engaging in risky tax behavior. The Securities and Exchange Commission must address the chasm between what companies know and what they disclose to investors.
Bloomberg: Russian Billions Hidden in US Spur Backlash to Financial Secrecy
FACT’s Policy Director Ryan Gurule is quoted in Bloomberg: “New York is one of the most desirable commercial and real estate markets in the world, and kleptocrats, sanction evaders and otherwise bad actors want to access those markets anonymously,”
WSJ: Sanctioned LPs Complicate Private-Equity Fund Dynamics
FACT’s Ryan Gurule is quoted in the Wall Street Journal: “Private funds are “a black hole” because of their lack of requirements for vetting and reporting investors,”
Politico: Oligarchs’ big loophole for stashing money
FACT’s Erica Hanichak is quoted in Politico: “Russia’s invasion of Ukraine shines a spotlight on what we already know — kleptocrats and criminals have manipulated the chinks in the armor protecting Western financial systems in order to safeguard their own ill-gotten gains,”