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US senators launch bill to broaden shell companies' disclosures - Republicans Tom Cotton, Mike Rounds & Democrats Mark Warner, Doug Jones on Senate Banking Cmte said bill would require shell companies to disclose ultimate, real owners to US Treasury Dept
reuters.com/article/us-usa…
reuters.com/article/us-usa…
Democratic representative Carolyn Maloney said the House Financial Services Committee intended to consider a similar bill this week as well
reuters.com/article/us-usa…
reuters.com/article/us-usa…
The bills moving through the Senate & House are good news - they will require disclosing beneficial ownership of shell cos to the Treasury & federal & local investigators - but not to the general public (like UK's Companies House). It's a good step, but more disclosure is needed
And should add while UK's Companies House is better than US reporting (regular director, ownership, financials info) & I use it constantly - it's flawed as well, beneficial owners often masked by layers of shell cos and incomplete info. Far to go to achieve needed transparency.
