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Full-Text Articles in Banking and Finance Law
Transnational Fiduciary Law, Tamar Frankel
Transnational Fiduciary Law, Tamar Frankel
Faculty Scholarship
Fiduciary law is expanding throughout the world.1 It seems to be a new phenomenon, but in reality, it is not. Fiduciary law is ancient. It existed centuries ago in Mesopotamia, 2 Rome, 3 Egypt,4 Greece,5 as well as in Jewish 6 and Christian laws.7 Fiduciary duties arguably developed later in Great Britain when master landlords left for the holy land on religious crusades and had to rely on others to manage their estates.8 The ancient rules, such as those found in agency law in Mesopotamia, may not have been as sophisticated as the current ones-such …
My Brother's Keeper: An Empirical Study Of Attorney Facilitation Of Money-Laundering Through Commercial Transactions, Lawton P. Cummings, Paul T. Stepnowsky
My Brother's Keeper: An Empirical Study Of Attorney Facilitation Of Money-Laundering Through Commercial Transactions, Lawton P. Cummings, Paul T. Stepnowsky
Faculty Scholarship
In recent years, various “gatekeeping initiatives” have been introduced through inter-governmental standard-setting organizations, such as the Financial Action Task Force, as well as through federal legislation in the United States, which seek to apply the mandatory customer due diligence, record keeping, and suspicious activity reporting obligations contained in the existing anti-money laundering regime to lawyers when they conduct certain commercial transactions on behalf of their clients. The organized bar has argued against such attempts to regulate it, in part, due to the lack of empirical data showing that, as a threshold matter, lawyers unwittingly aid money laundering in a significant …