LexRegPulse Daily - Aug 12, 2026
Alex here. This is LexRegPulse Daily for Wednesday, August 12, 2026.
FinCEN closed the book on domestic beneficial-ownership reporting. A final rule issued August 11 permanently ends the Corporate Transparency Act's mandate for U.S. companies and U.S. persons, and directs FinCEN to delete the data already collected from them. Only foreign reporting companies still have to disclose their beneficial owners. Treasury and the SBA put the annual savings at $6.7 to $9 billion. There's no transition window here. Banks now run a two-tier system: one standard for domestic entities, another for foreign…
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