Financial Transparency Coalition

WASHINGTON, DC – Senators Carl Levin (D-MI) and Chuck Grassley (R-IA) introduced bi-partisan legislation today, which would require companies to disclose the names of the beneficial owners of corporations and limited liability companies (LLCs) when formed. Anti-money laundering proponents, law enforcement groups, and financial transparency organizations consider the legislation, known as the Incorporation Transparency and Law Enforcement Assistance Act of 2011, a crucial step toward strengthening law enforcement and keeping criminal and tax evading money out of the U.S.

WASHINGTON, DC – The U.S. Treasury Department will hold a hearing tomorrow on a proposed rule requiring banks to report information to the Internal Revenue Service (IRS) on bank accounts held by non-U.S. residents. Currently, U.S. banks are not required to give the U.S. government information about these types of accounts.

Task Force member Global Financial Integrity has teamed up with several prominent American NGOs to call on the United States Government to take the lead on addressing transparency in the international financial system at this week's G20 Summit in Seoul. Here's GFI's full statement about the coalition:

United States: Promote Global Financial Transparency at G20 Summit

Greater Accountability Would Improve Development and Rights, Alleviate Poverty

WASHINGTON, DC—The United States should press for greater transparency and accountability in the global financial system at the G20 Summit meeting in Seoul, a coalition...

WASHINGTON, DC—The United States should press for greater transparency and accountability in the global financial system at the G20 Summit meeting in Seoul, a coalition of civil society organizations said today. The G20 Advocacy Coalition brings together varied organizations - that share the view that increased transparency is essential to promoting economic development, alleviating poverty and realizing enjoyment of economic and social rights.