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Senators Reintroduce Beneficial Ownership Bill for U.S. Corporations
By Colby Adams
printCompany formation agents would be required to implement anti-money laundering programs to better vet their clients under a broad measure introduced Tuesday by two influential U.S. lawmakers. The bill, introduced by Sens. Carl Levin (D-MI) and Charles Grassley (R-IA), would require the U.S. Treasury Department to propose and finalize risk-based rules for the agents within nine months of the measure's enactment. Agents or state officials would separately have to collect and regularly update data on the real owners of the companies they've helped to form, under the plan. The new data collection would hinge on adding "one new question" to...
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