On 10 August, ICIJ reported that a US law that would crack down on anonymous shell companies has been slowed by gridlock in Congress, leaving its fate to be decided in crucial negotiations between the Senate and House of Representatives. The article says that, if the U.S. passes the Anti-Money Laundering Act, it will still provide less transparency on company ownership than the UK or Europe.  Beneficial ownership information for UScompanies would be controlled by FinCEN and available only to law enforcement agencies.

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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