- The Trump administration finalized a rule exempting U.S. companies and individuals from reporting beneficial ownership information to FinCEN, rolling back parts of a 2021 anti-money‑laundering requirement.
- FinCEN will still require foreign reporting companies to disclose foreign beneficial owners, but it will delete previously reported information on Americans and won’t require U.S. person details for some foreign entities.
- Treasury calls the change a relief for “millions of law‑abiding” business owners, though it could reignite debate over its impact on anti‑corruption and money‑laundering efforts.
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