The appointment of U.S. sanctions expert Andrea Gacki to lead the Financial Crimes Enforcement Network will help empower the Bureau to better safeguard the U.S. financial system from ever-evolving threats.
A proposed $24 million cut to the Financial Crimes Enforcement Network threatens to undermine vital anti-money laundering reforms, including the implementation of the Corporate Transparency Act.
The Administration’s updated regulatory agenda indicates that the second final rule to implement the Corporate Transparency Act will be released in September, while much-needed new draft regulations on real estate transactions will be made available for comment in August.
In remarks before the House Financial Services Committee, FinCEN Acting Director Him Das outlined a number of the Bureau’s top priorities, including effectively implementing the CTA by ensuring “efficient access” to beneficial ownership information collected under the law for authorized users, and effectively verifying that information.
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.
Global civil society organizations collectively representing more than 100 groups sent a letter to U.S. Treasury Secretary Janet Yellen today calling on the U.S. to advance specific, meaningful financial transparency reforms to ensure the U.S. does its part to defend worldwide freedoms in the wake of the second Summit for Democracy.
