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FinCEN seeks public comment on US beneficial ownership registry proposal, sets May 5 deadline for comments

( April 1, 2021, 14:00 GMT | Official Statement) -- MLex Summary: The US Financial Crimes Enforcement Network is seeking initial public input on procedures and standards for companies to submit information to FinCEN about their beneficial owners. The deadline for comments is May 5. The Corporate Transparency Act, part of the Anti-Money Laundering Act of 2020, mandates a database of beneficial owners of small firms designed to help law enforcement investigate the money trail of crimes and banks conduct due diligence. Statement and document follow below:...

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