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 …
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 …
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 …
Transnational Legal Practice (International)[2010-2012], Laurel S. Terry
Dec 2012
Transnational Legal Practice (International)[2010-2012], Laurel S. Terry
Laurel S. Terry
This article covers three years of Transnational Legal Practice developments outside of the US. (It is the companion piece to 47 Int'l Law. 499 (2013) which discusses US developments.) This article discusses the approval of an Alternative Business Structure licensing system by the UK Solicitors Regulation Authority and its subsequent issuance of ABS licenses. The second section reviews the emergence of the “Troika” as a new regulatory influence in Europe, citing as an example the joint ABA-CCBE letter to the IMF. (The Troika refers to the International Monetary Fund, the European Central Bank, and the European Commission.) The third section …
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 …
