ARTICLE
6 November 2019

House Passes Bill Requiring Corporations To Report Beneficial Ownership Information

CW
Cadwalader, Wickersham & Taft LLP

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Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.
The U.S. House of Representatives passed a bill requiring U.S. corporations and limited liability companies to disclose their beneficial ownership.
United States Corporate/Commercial Law

The U.S. House of Representatives passed a bill requiring U.S. corporations and limited liability companies to disclose their beneficial ownership. The vote was 249 to 173.

As previously covered, H.R. 2513 (the "Corporate Transparency Act of 2019") would require the disclosure of the identities of natural persons who own 25 percent or more of the equity interests of corporations or limited liability companies at the time of formation, and would require such information to be kept updated going forward.

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