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BREAKING: FinCEN issues final rule on Beneficial Ownership reporting provisions; US Treasury Secretary Janet Yellen hails announcement as a ‘major step forward’

By Elizabeth Hearst for AMLi

The US Financial Crimes Enforcement Network (FinCEN) has today issued its final rule on implementing Beneficial Ownership reporting provisions. 

The Beneficial Ownership Information (BOI) reporting requirements form part of the US Corporate Transparency Act (CTA), and will “enhance the ability” of FinCEN to protect the US financial system from “illicit use”, said the body. 

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