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Lawmakers Will Impose Tax Evasion, Hedge Fund Requirements, Says Former Congressional Counsel
printFinancial regulation is in the early stages of undergoing its biggest change since the passage of the U.S. Patriot Act, a milestone in the world of bank compliance, according to Mike Flowers. While bills that would have required banks to limit tax evasion and dig deeper to uncover the beneficial ownership of corporations have died in past Congresses, today "it's an entirely different world," said Flowers, who recently left his position as a counsel for the U.S. Permanent Subcommittee on Investigations (PSI). Flowers, who also helped set up the trial of former Iraqi leader Saddam Hussein, spoke with Fortent Inform...
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