Anti-Money Laundering (Aml) Legal Profession Related Resources (Updated March 2019), Laurel S. Terry
Dec 2018
Anti-Money Laundering (Aml) Legal Profession Related Resources (Updated March 2019), Laurel S. Terry
Laurel S. Terry
This document is a bibliography of resources related to anti-money laundering (AML) initiatives related to lawyers and the legal profession. This document is an updated version of the document that originally was prepared for the panel on Lawyers and Anti-Money Laundering and Terrorist Finance Initiatives at the Nov. 2018, APRL/LSEW Conference entitled Crisscrossing the Pond: Transatlantic Issues in Legal Ethics and Law Firm Regulation.
This Resources document contains links to U.S., U.K, EU, Canadian, and Australian legal profession-AML resources, as well as links to FATF webpages and documents that include the FATF Mutual Evaluations page, the 2008 and 2019 …
The Relevance Of Fatf’S Recommendations And Fourth Round Of Mutual Evaluations To The Legal Profession, Laurel S. Terry, José Carlos Llerena Robles
Dec 2017
The Relevance Of Fatf’S Recommendations And Fourth Round Of Mutual Evaluations To The Legal Profession, Laurel S. Terry, José Carlos Llerena Robles
Laurel S. Terry
More than two hundred countries in the world have agreed to abide by the anti-money laundering (“AML”) recommendations developed by the Financial Action Task Force (“FATF”), which is an intergovernmental organization. This Article focuses on the potential impact on the legal profession of FATF’s fourth round of mutual evaluations. During these mutual evaluations, which currently are underway, FATF-affiliated countries examine each other’s compliance with the FATF Recommendations and recommend follow-up action. This Article first presents the legal profession-related results from the completed Mutual Evaluation Reports, including case studies from Australia, Canada, and the United States regarding legal profession preparation for …
Lawyer Regulation, Aml, And Fatf's Mutual Evaluations, Laurel S. Terry, José Carlos Llerena Robles
Nov 2017
Lawyer Regulation, Aml, And Fatf's Mutual Evaluations, Laurel S. Terry, José Carlos Llerena Robles
Laurel S. Terry
These presentation slides were used at the December 2017 Fordham Regulation of Legal and Judicial Services Conference andwill be the basis for our forthcoming article in Volume 41 of the Fordham J. of International Law, entitled "The Relevance of FATF's Recommendations and the 4th Round of Mutual Evaluations to the Legal Profession."These slides focus on FATF’s 4th round of “Mutual Evaluations, which currently are underway. During these mutual evaluations, FATF-affiliated countries examine each other’s compliance with the FATF Recommendations and recommend follow-up action for those countries whose lawyer regulation or implementation is not in compliance.
As the …
Transnational Legal Practice [2016], Laurel S. Terry
Dec 2016
Transnational Legal Practice [2016], Laurel S. Terry
Laurel S. Terry
This Transnational Legal Practice (TLP) Year-in-Review article continues the tradition of collecting and publicizing the developments that occurred during the past year. It focuses on developments that occurred during 2016.
The 2014 TLP Year-in-Review provided a departure from the Year-in-Review’s typical method of presentation by identifying two categories of what that article called “TLP-Nets.” See
Laurel S. Terry and Carole Silver,
Transnational Legal Practice [2014], 49 ABA/SIL (n.s.) 413 (2015). One group of TLP-Nets is nationally based and the other is inherently transnational.
This article uses the TLP-Nets structure set forth in the 2014 TLP …
The Fatf’S 4th Mutual Evaluations, The U.S., & Lawyers (2016 Ilec Slides; See Also Cited 2015 & 2010 Articles), Laurel S. Terry
Dec 2015
The Fatf’S 4th Mutual Evaluations, The U.S., & Lawyers (2016 Ilec Slides; See Also Cited 2015 & 2010 Articles), Laurel S. Terry
Laurel S. Terry
These slides build on work found in my
2015 and
2010 FATF - legal profession law review articles. These slides were presented at the July 2016 International Legal Ethics Conference in New York City. I participated in a panel that focused on the impact of the Financial Action Task Force or FATF on the legal profession. Other panelists spoke about the 60 Minutes show Anonymous, Inc., FATF’s Mutual Evaluation of Canada and the
Attorney General of Canada v. Federation of Law Societies of Canada case in which the Canadian Supreme Court struck down portions of an anti-money laundering law intruding …
Transnational Legal Practice 2008, Carole Silver, Laurel S. Terry, Ellyn S. Rosen, Carol A. Needham, Jennifer Haworth Mccandless, Robert Lutz, Peter D. Ehrenhaft
Oct 2015
Transnational Legal Practice 2008, Carole Silver, Laurel S. Terry, Ellyn S. Rosen, Carol A. Needham, Jennifer Haworth Mccandless, Robert Lutz, Peter D. Ehrenhaft
Laurel S. Terry
This article reviews developments in transnational legal practice during 2006 and 2007, including international developments, U.S. developments and regional developments in Australia and Europe. The primary focus of the international developments section is the WTO's General Agreement on Trade in Services (GATS). This article discusses GATS Track 1 Activities related to legal services, including the Legal Services Collective Requests and issues related to GATS Track 2 and the potential development of GATS disciplines. This section also surveys GATS-related initiatives of the American Bar Association and the International Bar Association and U.S. implementation of foreign lawyer multi-jurisdictional practice rules. In other …
An Introduction To The Financial Action Task Force And Its 2008 Lawyer Guidance, Laurel S. Terry
Oct 2015
An Introduction To The Financial Action Task Force And Its 2008 Lawyer Guidance, Laurel S. Terry
Laurel S. Terry
The Financial Action Task Force (FATF) is a thirty-eight-member intergovernmental organization whose mission is to fight money laundering and terrorism financing; the U.S. is a founding member of the FATF. The FATF is best known for its 40 Recommendations, many of which are directed towards various kinds of “gatekeepers” who are in a position to facilitate or inhibit money laundering and terrorism financing. (These were previously known as the 40+9 Recommendations). Lawyers are among those to whom the FATF’s recommendations apply. This article provides the introduction for the Journal of the Professional Lawyer’s Symposium about the application of the FATF …
U.S. Legal Profession Efforts To Combat Money Laundering And Terrorist Financing, Laurel S. Terry
Dec 2014
U.S. Legal Profession Efforts To Combat Money Laundering And Terrorist Financing, Laurel S. Terry
Laurel S. Terry
This article was prepared for the Symposium on Combating Money Laundering and Terrorist Financing, which was the first academic symposium of its kind, and included speakers from the U.S. Department of the Treasury, the FDIC, and the IRS. It focuses on the legal profession and explains how the US has implemented the FATF Recommendations that address the role that "gatekeepers," including lawyers, can serve to combat money laundering and terrorist financing. After setting forth introductory material about the intergovernmental organization called the Financial Action task Force or FATF, the FATF Recommendations, and the degree to which the FATF Recommendations have …
Laurel Terry's Summary & Supplement To The U.S. Lawyer Aml Voluntary Good Practices Guidance [A "Red Flags" Two-Pager], Laurel S. Terry
Dec 2010
Laurel Terry's Summary & Supplement To The U.S. Lawyer Aml Voluntary Good Practices Guidance [A "Red Flags" Two-Pager], Laurel S. Terry
Laurel S. Terry
This "two pager" summarizes information found the Voluntary Good Practices Guidance, which was developed by representatives from the American Bar Association (ABA), the American College of Trusts and Estates Counsel (ACTEC), and other organizations. See https://perma.cc/3QRH-5U7Q. In August 2010, the ABA adopted the Voluntary Good Practices Guidance. See Among other things, Resolution 116 calls on "state, local, and specialty bar associations to embrace the Good Practices Guidance and to educate legal professionals and law students regarding the risks addressed by the Guidance." See https://perma.cc/S5KU-U7MB.
This "two-pager" was prepared in that spirit of education. It lists in two pages the money …
The Future Regulation Of The Legal Profession: The Impact Of Treating The Legal Profession As 'Service Providers', Laurel S. Terry
Dec 2007
The Future Regulation Of The Legal Profession: The Impact Of Treating The Legal Profession As 'Service Providers', Laurel S. Terry
Laurel S. Terry
In the past fifty years, one has heard debates about whether law is a business, a profession, or both, what these terms mean and whether it matters. Regardless of what one thinks about these debates, there is a new paradigm that must be added to the mix, which is the paradigm of lawyers as "service providers." In the "service providers" paradigm, the legal profession is not viewed as a separate, unique profession entitled to its own individual regulations, but is included in a broader group of "service providers," all of whom can be regulated together. This new paradigm represents a …
