On 11 May 2016, the Greens / European Free Alliance of the EU Parliament published its report on the role of the U.S. as a tax haven and the implications for Europe. While acknowledging the recent Customer Due Diligence (CDD) Final Rule and other proposals issued by U.S. Treasury to increase transparency ({News-2016-05-09/A/4- previous coverage}), the report highlights the following main issues: The ability of non-residents to incorporate companies in several U.S. states without providing any beneficial ownership information; The lack of requirements for U.S. financial institutions to obtain and update beneficial ownership information of customers (aside from the recent...