On New Year’s Day 2021, the US Congress passed – over President Trump’s veto – a defence appropriations law containing the Anti-Money Laundering Act of 2020 (AML Act) and the Corporate Transparency Act, launching a raft of anti-money laundering reforms that include new beneficial ownership disclosure obligations for a wide range of small companies. Joshua M. Robbins and Cheryl Lott of Buchalter work through the legislation.
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