News & Events | Page 19 | The FACT Coalition

Investors Blind to Geopolitical, Tax Risk Without Public Reporting of Key Financial Data, Report Finds

July 28, 2022

Investors are exposed to material tax and geopolitical risks because of a lack of tax and other financial transparency, according to a report released today by the Financial Accountability and Corporate Transparency (FACT) Coalition. To give investors greater visibility into these material risks, the FACT Coalition report calls on the Securities and Exchange Commission (SEC) to use its current authority to implement rules for public country-by-country reporting (PCbCR) regarding revenues, profits, operations, and taxes paid and accrued.

Crucial Funds Will Support the Financial Crimes Enforcement Network in Finalizing Overdue Anti-Money Laundering Reforms: Just the FACTs: July 25th

July 25, 2022

This new appropriations budget represents a 31 percent increase in FinCEN’s budget over FY2022 enacted levels and meets the amount requested by the Biden Administration in the President’s discretionary budget request earlier this year.

House Passes Bill to Boost Budget of Nation’s Financial Crime Fighters

July 20, 2022

Today, the House of Representatives passed a six-bill appropriations package (H.R. 8294) for fiscal year 2023 that includes $210.33 million for the Financial Crimes Enforcement Network (FinCEN).

JULY 28 REPORT LAUNCH: “A Material Concern: The Investor Case for Country-by-Country Reporting”

FACT’s latest report, “A Material Concern: The Investor Case for Country-by-Country Reporting,” spotlights examples of dramatic revenue and tax implications for investors stemming from global events and tax practices of major multinational companies like Amazon, Pfizer, McDonalds, Shell, and Dell, that current public company disclosure requirements fail to address.

House Approves Bipartisan Act to Rein In the Enablers of Corruption

July 15, 2022

Yesterday, the U.S. House of Representatives approved as part of the must-pass defense spending bill the “ENABLERS” Act. The Act requires certain professional service providers that are best positioned to act as “gatekeepers” to the U.S. financial system to adopt common sense anti-money laundering procedures that can help detect, flag, and prevent the laundering of corrupt and other criminal funds into the United States.