Top Treasury officials outline recent and upcoming anti-money laundering initiatives before Congress, and FACT submits comments advising swift passage and implementation of new Australian tax transparency draft legislation.
Australia introduces public country-by-country reporting legislation with global reach, and FACT, Transparency International U.S., and Main Street Alliance submit their defense of the Corporate Transparency Act in court.
Secretary Yellen outlines upcoming AML initiatives, U.S. commits to verification of data collected under the Corporate Transparency Act, and FinCEN gets ready to revise and reissue a controversial beneficial ownership information intake form.
Implementation of the Corporate Transparency Act is under serious threat, FACT calls on Treasury to nominate permanent leadership at FinCEN, and Canada introduces long awaited legislation to create a publicly-accessible federal beneficial ownership registry.
Also this week: a new blog by FACT government affairs director Erica Hanichak, and a great upcoming panel discussion cohosted by FACT, GATJ, and the Nawi Collective.
A recent draft rule by Treasury’s FinCEN to implement the Corporate Transparency Act contains severe deficiencies that, if left in place, could “undermine U.S. national security and global leadership in the fight against corruption.”
