US to require ownership disclosure

Issue 429 - 17 Dec 2020 | 3 minute read

In a major victory for transparency campaigners, the US Congress has passed a groundbreaking measure to ban anonymous shell companies by a veto-proof majority. The Corporate Transparency Act, which was tacked on to the annual National Defense Authorization Act, will oblige corporations and limited liability companies established in the United States to disclose their real owners to the US Treasury Department.

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