i-law

Money Laundering Bulletin

US Congress on brink of beneficial ownership law

The US Congress is set to legislate for US companies andlimited liability partnerships (LLPs) to disclose their beneficial owners at a25% threshold, or those who exercise substantial control over the entity, to anon-public register. The long-awaited law would cover both the more than twomillion new US entities created each year as well as those that already exist.

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