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Legislative Priorities to Promote Transparency for President Obama
November 7th, 2012
After a long, hard battle, President Obama won a second term from voters last night. The media has pointed out he’s not taking much time to celebrate; it’s time to back to the long, hard work of governing. In that spirit, this is a good opportunity to check the pulse of several important transparency-enhancing legislative initiatives that are on the table in Congress right now. Over the next four years, the President and his administration will have opportunities to promote transparency in the financial system, fight corruption worldwide, and enhance tax fairness, both abroad and at home. In that...
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Civil Society, Business Groups Call on Congress to Support Incorporation Transparency, Ban Anonymous U.S. Shell Companies
May 16th, 2012
WASHINGTON, DC – Today, 41 business and civil society groups sent a letter to every member of the U.S. House of Representatives and U.S. Senate urging them to co-sponsor the Incorporation Transparency and Law Enforcement Assistance Act (S. 1483/ H.R. 3416). This bipartisan bill, which is endorsed by the Obama Administration, would require companies to disclose their ultimate owners at the time of incorporation, making it much harder for corrupt politicians, tax dodgers, terrorists and other criminals to form and hide behind anonymous U.S. shell companies.
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Five Achievable Steps for Transparency in 2012
January 5th, 2012
The New Year is a great time for resolutions. Of course most of these resolutions are made on a personal basis. But resolutions can also be made on a national and international level. So in that spirit, here are five realistic resolutions to help theUnited Statesand the international community achieve more financial transparency in 2012: 1. The U.S. passes the Incorporation Transparency Act. This bill would require companies to disclose the names of the beneficial owners of corporations and limited liability companies (LLCs) when formed. This would close a major loophole that criminals exploit to launder their funds within U.S....
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House Bill Introduced to Crack Down on Abusive American Shell Companies
November 15th, 2011
WASHINGTON, DC – Yesterday, Rep. Carolyn B. Maloney (D-NY), Rep. Barney Frank (D-MA) and Rep. Stephen F. Lynch (D-MA) introduced legislation, which would require that the beneficial owners of corporations and limited liability companies (LLCs) be disclosed at the time companies are formed. Anti-corruption watchdogs, law enforcement groups, and human rights organizations consider the legislation, known as the Incorporation Transparency and Law Enforcement Assistance Act, a crucial tool in aiding law enforcement and keeping criminal and tax evading money out of the United States.
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