Global Financial Insight on 13th June reported that the House of Representatives Committee on Financial Services is considering the Counter Terrorism and Illicit Finance Act, which has been stripped of provisions that would require collection of beneficial ownership information at the time of company formation – despite a November 2017 version of the same Bill having included a section to address this critical issue. The change is despite the section having the support of the US banking industry, according to American Banker.
https://www.americanbanker.com/opinion/house-aml-bill-is-a-missed-opportunity
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