The U.S. Supreme Court on Thursday declined to block enforcement of an anti-money laundering law that forces millions of business entities to disclose the identities of their real beneficial owners to the Treasury Department,

The Corporate Transparency Act, which requires businesses to disclose ownership information, was blocked by a federal judge as beyond Congress’s authority.

Owners and part-owners of an estimated 32.6 million small businesses must register personal information with Treasury’s Financial Crimes Enforcement Network, or FinCEN.

TD Bank said on Thursday Chief Global Anti-Money Laundering Officer Herbert Mazariegos is stepping down immediately, as the bank takes remediation actions after it was fined by U.S. regulators for compliance failures.

The act aims to stop fraud and money laundering by requiring most U.S. businesses to disclose which owners control more than 25 percent of the stock or equity.