Family Offices Say Disclosure Plan Invites Theft, Kidnapping
- Treasury rule would require shareholder identities be revealed
- Investor group says proposal could endanger wealthy families
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A proposal by the U.S. Treasury Department to require certain corporations to disclose identities of their beneficial shareholders is attracting opposition from family offices.
Ultra-wealthy families or individuals are “uniquely susceptible” to crimes like theft, fraud, extortion and kidnapping, according to the Private Investor Coalition, a group that advocates for single-family offices in Washington.