On April 28th, Himamauli Das, Acting Director of FinCEN, appeared before the House Committee on Financial Services in an important oversight hearing to provide an update on FinCEN’s implementation of the Anti-Money Laundering Act of 2020 (AML Act), including the Corporate Transparency Act (CTA).
FACT’s Policy Director Ryan Gurule and Gary Kalman of FACT-Member Transparency International Spoke Today in a Legislative Briefing for New York’s Legislature on the Importance of Implementing Corporate Transparency Reforms through New York’s LLC Transparency Act
FACT’s statement to House Financial Services outlines priorities for implementing beneficial ownership reform and strengthening anti-money laundering rules
This month, Treasury Secretary Yellen appeared before the House Financial Services Committee and responded to concerns over the Corporate Transparency Act’s (CTA) delayed implementation. In her answer, Yellen assured lawmakers that the second of the CTA’s three required rulemakings would be drafted “this year, in the coming months.”
FACT Policy Director testified before Alaska’s legislature on the harmful impact of the “secrecy rat-race” between states and how Alaska could help to lead the way to transparency.
Reforms advocated for by FACT, including those pertaining to beneficial ownership of anonymous shell entities, removing opacity from the U.S. real estate, private investment, and other luxury goods markets, and promoting greater tax transparency can bring the economic weight of new sanctions to bear. The U.S. must work expediently with its allies to permanently close financial gateways for Russia’s political elite to hide and grow their illicit wealth.
