Daily Market Updates: Treasury to scale back enforcement of Corporate Transparency Act

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Treasury to scale back enforcement of Corporate Transparency Act

The decision would mean the 2021 law's reporting requirements aimed at countering money laundering will not be enforced by the Trump administration.

Reported · Written up by our desk · Trade & Tariffs

The New York Times reports that the Trump administration plans to scale back scrutiny of U.S. shell companies by not enforcing reporting requirements under the 2021 Corporate Transparency Act.

The law was designed to crack down on money laundering, but enforcement would be reduced under the administration's approach, according to the report.

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NYT BusinessTreasury Scales Back Scrutiny of U.S. Shell Companies

Global Markets

Treasury to scale back enforcement of Corporate Transparency Act

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