My time is up, but I would just say that we ask banks all the time for who the beneficial owners of accounts are, and th...
It is imperative that not be the case here.
But when it became clear that the States would not step up to the plate, we then introduced the bill.
Are you suggesting that under the Commerce Clause of the U.S. Constitution, given what corporations do across boundaries...
Senator Levin's bill offers one solution to this problem, which is to set a national minimum standard for State incorpor...
Should be.
the most important information for law enforcement to know is the beneficial owner.
I think that is an important point. I think that is a common approach, as a matter of fact.
Because there has been some confusion about that. The living, breathing person that we are looking for is the beneficial...
So like the company that Senator Carper mentioned that is listed on the stock exchange with a securities commission, the...
The bill does not change State law. It adopts a Federal requirement that the States ask the question on the incorporatio...
Thank you, Mr. Chairman, for your holding again this hearing.
the NCCUSL proposal fails to cure the problem and would create a host of new ones.
Having access to beneficial ownership information is critically important.
Our bill requires that filers provide beneficial owner information up front at the time of incorporation.
We have a Treasury Department definition. We have one line. You must ask for the beneficial ownership as defined in 31 C...
I look forward to the definition on beneficial owners.
We prohibit it. We say only if a State decides that they want to make it available for whatever reason.
