FinCEN Issues Final Rule on Access to Firms’ Ownership Info (2)

Law-enforcement agencies, foreign governments, and financial institutions will be able to see newly disclosed information on who owns tens of millions of companies, but they’ll have to jump through a variety of hoops to get it, under a rule issued Thursday.

The final rule (RIN 1506-AB59) from the Treasury Department’s Financial Crimes Enforcement Network, or FinCEN, governs the access to and safeguards for the information on “beneficial ownership” that companies soon will have to disclose to FinCEN. The rule is one of the last pieces of the regulatory framework governing the new disclosure requirements as they ...