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Implications of appeals ruling blocking beneficial ownership registry assessed

Image of US Treasury Secretary Janet Yellen.
Photo: Tasos Katopodis/Getty Images

Julie DiMauro

3 min read
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Companies won’t be subject to liability if they fail to file beneficial ownership details right now, but they can (and should consider) doing so.

The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) said it is appealing a ruling by a Texas judge blocking the implementation of a law intended to tamp down on the use of anonymous shell companies by criminals and other nefarious actors.

The ruling by District Judge Amos Mazzant on the financial

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