Democrats on a U.S. House committee are pushing to reduce the financial secrecy that has allowed many of the world’s richest and most powerful to hide their assets in South Dakota and other trust-friendly states
The federal government potentially stepping in to regulate trust industries would likely be an unwelcome development for Republican lawmakers in South Dakota.
The ENABLERS Act, introduced post-Pandora Papers, aims to check the U.S. financial-services industry, including South Dakota trusts. Does it go far enough?