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USA: House of Representatives passes landmark bipartisan bill to put an end to corruption & crime enabled by anonymous companies

On 22 October 2019, the US House of Representatives passed a landmark bipartisan bill, The Corporate Transparency Act, that would require companies to disclose their true, so-called ‘beneficial’ owners at the time the company is formed to the U.S. Treasury and keep such information up to date whenever it changes. Earlier in the day, the White House issued a positive Statement of Administrative Policy endorsing legislation to end the incorporation of anonymous companies in the U.S. The bill will now proceed to the US Senate where another bill focused on tackling corruption and crime by ending the use of anonymously-owned companies in the US has also been introduced by a bipartisan group of Senators.

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