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FinCEN Wants Second Beneficial Ownership Rule Before New Year

By Fred Williams

U.S. officials updated bankers on their plans for governing access to beneficial ownership data, acting against wholesale de-risking and possibly revising sanctions against Russian oil at an anti-financial crime conference in Washington, D.C., this week. Treasury's Financial Crimes Enforcement Network, or FinCEN, is pushing to finalize a rule that will outline who can access the names, birthdates and other personal details of individuals who beneficially own limited liability companies, partnerships and other legal entities registered in the United States, Himamauli Das, the bureau's acting director, said Tuesday. "We're working very hard to get that rule out the door by the...

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