US Treasury's FinCEN Proposes Rule Governing Access to Corporate Beneficial Ownership Database

Pursuant to the Corporate Transparency Act (CTA), certain reporting companies are required to submit beneficial ownership information (BOI) to the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) beginning January 1, 2024. FinCEN recently issued a Notice of Proposed Rulemaking (NPRM) to govern access to BOI sensitive information and establish effective information sharing safeguards. Access this MLex Article for a complete overview of this NPRM.

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