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Letter from the National Association of Realtors Endorsing Beneficial Ownership Transparency.

Dear Chairman Grassley and Ranking Member Feinstein: On behalf of the 1.3 million members of the National Association of REALTORS® (NAR), I thank you for holding the hearing on “Beneficial Ownership: Fighting Illicit International Financial Networks Through Transparency.” REALTORS® appreciate the attention on policy that promotes national security and helps the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) mitigate risks posed to interstate and international commerce.

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Testimony to Senate Judiciary Committee on TITLE Act S. 1454

The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) testified in front of the Senate Judiciary Committee at a hearing on True Incorporation Transparency for Law Enforcement Act or TITLE Act, S. 1454 which would end the abuse of anonymous shell companies by simply requiring companies to list the beneficial owner at the time of corporate formation. The full testimony can be read below or downloaded here.

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Briefing Memo: Ending Offshore Tax Avoidance

There is widespread agreement, across the political spectrum, that the gaming of the tax code by multinational corporations is a problem. When profits and jobs are shipped offshore, we not only harm the U.S. economy, we fuel a tax haven industry that drains wealth around the world.

The tax system under the Tax Cuts and Jobs Act includes loopholes and incentives to shift money and jobs overseas.

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Comments to SEC in Support of Legal Entity Identifier (LEI) Requirements

The FACT Coalition filed a comment on January 2, 2018 with the U.S. Securities and Exchange Commission (SEC) supporting the agency’s proposal to mandate the disclosure of Legal Entity Identifier (LEI) numbers by public companies and their subsidiaries.  The Coalition also urged requiring all public companies to obtain LEIs, ensuring that the LEIs are disclosed in a machine-readable format, and mandating that companies disclose all of their subsidiaries in their disclosures, rather than simply their “significant” subsidiaries.

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