On 7 December, a news release from US Treasury advised on an NPRM to implement the beneficial ownership information reporting provisions of the Corporate Transparency Act (CTA). The proposed rule addresses, among other things, who must report beneficial ownership information, when they must report, and what information they must provide. Collecting this information and providing access to law enforcement, financial institutions, and other authorized users will diminish the ability of malign actors to hide, move, and enjoy the proceeds of illicit activities. Comments on the NPRM will be accepted for 60 days.
Any modest contributions for my time and ongoing expenses are welcomed! I have a page where you can do so, and where one-off contributions start as low as $3, at https://www.buymea3coffee.com/KoIvM842y