In “The Corporate Transparency Act Puts Spotlight on Beneficial Ownership Information” (16 February 2024, Global Association of Risk Professionals), Heather Olsson comments on the benefits to be gained from implementation of the Corporate Transparency Act. Heather noted: “Criminals have historically been able to exploit the lack of uniform laws and regulations in the United States, and the Corporate Transparency Act aims to bridge this gap through making beneficial ownership information available to the federal government at the time of new-company formation and applying a national requirement on what beneficial information must be reported for certain company types.”
Read the entire article.