"the hidden secret ownership of corporations in this country denies law enforcement critical tools and this hidden ownership is a significant security risk to our country"
"But when it became clear that the States would not step up to the plate, we then introduced the bill."
"Should be."
"the most important information for law enforcement to know is the beneficial owner."
"If false information is provided on the form, would it be fair to say that even that information might be helpful?"
"I think that is an important point. I think that is a common approach, as a matter of fact."
"That is very helpful. Thank you. And that is, of course, the point of it, and one of the reasons why this bill has been referred to this Committee."
"Because there has been some confusion about that. The living, breathing person that we are looking for is the beneficial owner, the person that controls."
"U.S. corporations with hidden owners have created a serious law enforcement and a national security problem."
"Senator Levin's bill--and it is, as I said at the outset, Senator Levin, Senator Grassley, and Senator McCaskill particularly--is designed with these law enforcement investigations in mind."
"Secretary Stackley, we all know that the Navy will have difficulty affording the shipbuilding procurement programs that will meet our requirements and maintain the 313-ship fleet."