Davis Polk partner Dan Stipano was quoted in MoneyLaundering.com discussing additional funding for FinCEN. Stipano noted that building and maintaining FinCEN’s new beneficial ownership database will probably require additional funds. “Establishing the registry will be a challenge for FinCEN under any circumstances, but even more so if they have to make do with their current resources,” he said.

“White House Wants More Funds for FinCEN,” MoneyLaundering.com (May 28, 2021) (subscription required)

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