US joins 20 nations in pledge for corporate transparency.
The US, along with more than 20 other countries, has committed to enhancing corporate transparency by establishing a beneficial ownership registry to combat corruption and deter dirty money from entering the country. The registry will contain personal information on the owners of at least 32 million US businesses. Treasury Secretary Janet Yellen pledged to maintain the database and ensure that law enforcement will have access while protecting individuals' personal data. The US is making the push to combat illicit finance, in part, as a response to Russia's invasion of Ukraine.