US Treasury ends ownership reporting rules for U.S. companies

toomuchtodo

https://archive.today/DybiV

mamonster

> Foreign companies and pooled investment vehicles (such as mutual funds or hedge funds) must still report information about foreign owners. But they will no longer have to identify Americans who help them register to do business in the United States, according to a Treasury Department advisory. > And Treasury will delete any information it has already collected about U.S. business owners, the advisory said. I mean this is literally an invitation to use "bagmen" with a US passport to hold interest / investments in the US. The part about deleting already collected data is also pretty crazy.

datsci_est_2015

The fact that this is getting such little traction in comparison to a very related post yesterday is funny: - The US tried to stop cartel money-laundering; devastated mom-and-pop businesses: https://www.theguardian.com/us-news/2026/aug/11/us-mexico-border-area-money-transfer-rule-change-small-businesses - Comments: https://news.ycombinator.com/item?id=49258970 Left-hand, right-hand problem? Or lying through their teeth regarding the justifications for this relaxation of regulations?

esbranson

And thus the New York LLC Transparency Act falls too.