Treasury drops Corporate Transparency Act reporting, easing shell‑company scrutiny
The Treasury’s FinCEN has issued a final rule that permanently ends the Corporate Transparency Act’s requirement for U.S. companies and individuals to disclose beneficial owners, and will erase already‑filed data. The move, hailed as a relief for small‑business compliance, also removes a key anti‑money‑laundering safeguard, potentially reopening a channel for shell‑company abuse.