A first-in-the-nation transparency act on Hochul’s desk would name those involved in financial crimes and potential money laundering
, not to sign a landmark transparency bill unmasking the owners of shell corporations involved in financial crimes, wage theft and tenant abuses.
Advocates say that the United States is already a global outlier when it comes to the secrecy afforded to corporate entities.that all 50 US states required more personal information to obtain a library card than to create a company.
While few individual firms have adopted a public position, Tishman Speyer, a mega- developer of luxury condos and other real estate, also reported lobbying on the bill. The firm and its executives have contributed more than $150,000 to Hochul’s campaign fund. Asked by the Guardian about the contributions and her position on the bill, a spokesperson for Hochul said she would review the legislation.Our US morning briefing breaks down the key stories of the day, telling you what’s happening and why it mattersIf signed into law, New York’s transparency measures could shed light on shadowy real estate actors – and help fill a critical gap left by forthcoming federal requirements set to take effect next year.
“Transparency advocates will continue to push to expand reporting requirements,” Kuhlman said. “Please resist calls to make the federal beneficial ownership database public.”In New York, housing advocates who will be blocked from accessing federal ownership data hope that a state registry will make it easier to hold landlords accountable.