Nonprofits, Businesses Call For End To Corporate Secrecy
May 24th, 2012
The Wall Street Journal (blog), May 16, 2012
By Samuel Rubenfeld
A group of 41 businesses and nonprofits sent a letter to every member of Congress pressing them to pass legislation that would reveal the beneficial owners of shell companies.
The letter, signed by good government groups such as Oxfam America and Human Rights Watch as well as socially responsible investment firms Calvert Investments and Domini Social Investments LLC, pushes for lawmakers to pass a bill that would require companies to disclose their ultimate owners at the time of incorporation, making it more difficult for corruption to fester without notice in the U.S. through anonymous shell companies.