3 ms·

I thought there was a recent law in the past few years that required any entity holding securities to provide entity ownership data to the SEC.

• jqpabc123 2y ago
  The entity in this case won't necessarily be a typical securities "holding" company. Legally, it may be the owner of the securities. It's possible to make it very difficult to prove who ultimately controls the company.
  • giantg2 2y ago
    Sure, people can lie and commit fraud regardless of the law. The corporate transparency act requires certain reporting of "beneficial ownership".
    • jqpabc123 2y ago
      The corporate transparency act doesn't apply outside the country. Anyone in the world can legally buy US securities. Obscuring ownership and control can be done perfectly legal.
      • giantg2 2y ago
        "Anyone in the world can legally buy US securities." Assuming you aren't sanctioned. "Obscuring ownership and control can be done perfectly legal." Exception the tax fraud part...