cross-posted from: https://news.abolish.capital/post/71226
The Trump administration has finalized a rule that will allow shell companies and other questionable entities to conceal their ownership from federal investigators, in a move that critics say will only further facilitate corruption in the U.S. The Treasury Department’s Financial Crimes Enforcement Network announced on Tuesday that it is ending the regulation that requires companies to…
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I think it’s because it was a rule created to fulfill the voted on act—and department creates the rules. In my understanding, the departmental role in actual rule making and implementation is where it gets wiggly. Please someone correct me/clarify at will! https://www.msn.com/en-gb/money/financial-regulation/trump-administration-wipes-beneficial-ownership-database-in-permanent-removal-of-anti-corruption-safeguards/ar-AA2a2jBD