News

Lawmakers in New York approved their own version of a federal plan to collect the personal details of corporate beneficial owners, but with a key difference: The state would make those details public, not limit access to law enforcement and financial institutions only. If signed into law, the LLC Transparency Act, which passed New York's Assembly and Senate in June, would create the first publicly accessible database of beneficial owners in the U.S. New York's Department of State would collect the information, which would include the names, addresses and other personal details of individuals who own 25 percent or more...