White House Reviewing Treasury Plan to Limit Ownership Reporting

The Treasury Department’s plan to scale back requirements for companies to disclose more about their ownership is under White House regulatory review.

An interim final rule from Treasury’s Financial Crimes Enforcement Network on revising beneficial ownership information reporting and extending deadlines on the reporting was received Thursday by the White House’s Office of Information and Regulatory Affairs, according to its website.

Treasury said earlier this month it planned to issue new regulations limiting the scope of the beneficial-ownership requirements to foreign reporting companies, and it wouldn’t enforce penalties or fines for not reporting the information against US citizens or ...