businesses as part of an effort to combat corruption.Ĭolombia, Malta and Japan are some of the countries included in the commitment. The registry will contain personal information on the owners of at least 32 million U.S. “The beneficial ownership database will deter dirty money from entering the U.S.,” Yellen said in a speech before the summit began. While the Biden administration is already working to establish a new database on small business ownership, Yellen pledged Tuesday that her department would maintain the database, known as the beneficial ownership registry, and would ensure that law enforcement will have access and that individuals’ personal data will be protected. WASHINGTON (AP) - Treasury Secretary Janet Yellen affirmed America’s commitment to enhancing corporate transparency along with more than 20 other countries participating in this week’s Summit for Democracy.
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