On 11 December 2020, the U.S. Senate passed the National Defense Authorization Act (NDAA), which was passed in the House of Representatives earlier in the week. Although U.S. President Trump has indicated that he will veto the NDAA, both the House and Senate passed the bill with veto-proof majorities, meaning that if President Trump vetoes the legislation, the veto will likely be overridden in Congress. As previously reported, the legislation includes anti-money laundering provisions that require reporting companies to disclose information about their beneficial owners. For this purpose, a beneficial owner means an individual who (i) exercises substantial control over...