NAR Support Letter to Senate Judiciary Regarding Hearing on Beneficial Ownership
Issue Date: February 05, 2018
On February 5, 2018, NAR sent a letter to Chairman Grassley and Ranking Member Feinstein of the Senate Committee on the Judiciary. The letter expresses NAR's belief that the disclosure of beneficial ownership information at the time of company formation or transfer is less burdensome than other means and reduces the likelihood that U.S. shell companies can be used to hide illegal activities and assets. Beneficial ownership provisions would also enable FinCEN and law enforcement officials to have access to crucial information to assist investigations of financial and other crimes stemming from illegal transactions.