homeWelcome, sign in or click here to subscribe.login
     


 

 

Business


Subscriber content preview

March 4, 2025

Treasury ends enforcement of business ownership database meant to stop shell company formation

By FATIMA HUSSEIN
Associated Press

WASHINGTON — The U.S. Treasury Department announced it will not enforce a Biden-era small business rule intended to curb money laundering and shell company formation.

In a Sunday evening announcement, Treasury said in a news release that it will not impose penalties now or in the future if companies fail to register for the agency's beneficial ownership information database that was created during the Biden administration.


 
. . .


To read this story in full login or purchase a subscription.




Email or user name:
Password:
 
Forgot password? Click here.