Tagged: FinCEN beneficial ownership regulations

FinCEN Issues Proposed Beneficial Ownership Reporting Regulations

FinCEN Issues Proposed Beneficial Ownership Reporting Regulations

The Anti-Money Laundering Act of 2020 was a game-changing piece of legislation.  Perhaps the most important provision is the expansion of beneficial ownership regulatory authority.  Following up on this important issue, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued its Notice of Proposed Rulemaking to implement new beneficial ownership reporting requirements. In the international sphere of AML compliance and enforcement, the United States has...