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.
FACT Welcomes Treasury Department Action to Counter Money Laundering through U.S. Real Estate
WASHINGTON, DC – In a comment letter submitted yesterday, the FACT Coalition welcomed action by the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) to bring the U.S. real estate sector under the purview of federal anti-money laundering safeguards. The FACT Coalition offered guidance on how FinCEN should craft a rulemaking that would introduce permanent, nationwide standards to address illicit financial risks in the sector.
31 Civil Society Organizations Send Letter to FinCEN in Support of Strong Beneficial Ownership Implementation
31 Civil Society Organizations Send Letter to FinCEN in Support of Strong Beneficial Ownership Implementation
63 Investors with $2.9 trillion in Assets Under Management Send Letter to FASB in Support of Tax Transparency
63 Investors with $2.9 trillion in Assets Under Management Send Letter to FASB in Support of Tax Transparency
FACT Provides Comments to Financial Accounting Standards Board Urging Country-by-Country Tax Reporting
FACT recently sent comments to the Financial Accounting Standards Board (FASB) urging them to adopt country-by-country tax reporting as part of its public consultation on the Board’s priorities. FASB sets and oversees the Generally Accepted Accounting Principles, the standard followed by most U.S. corporations in their financial reporting, and so could bring about widespread adoption of public country-by-country reporting as a way to ensure investors are fully able to assess reputational and regulatory risks in their portfolios.
FACT Sent Comments to FATF Urging Strong Beneficial Ownership Regulation
FACT recently sent comments to the Financial Action Task Force (FATF) urging the international body to adopt more robust beneficial ownership recommendations as part of its public consultation on Recommendation 24.