On 3 December 2020, U.S. Senator Sherrod Brown (D-OH) announced the inclusion of anti-money laundering and corporate transparency reforms into the final version of the National Defense Authorization Act (NDAA), which will soon be voted on in the House and Senate. This includes language from the draft Corporate Transparency Act of 2019, which requires reporting companies to disclose information about their beneficial owners. For this purpose, a beneficial owner means an individual who (i) exercises substantial control over a corporation or limited liability company or (ii) owns 25% or more of the interest in a corporation or limited liability company,...