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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 …

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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 …

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Tales Of Two Regimes For Regulating Limited Liability Law Firms In The Us And Australia: Client Protection And Risk Management Lessons, Susan Saab Fortney Jul 2015

Tales Of Two Regimes For Regulating Limited Liability Law Firms In The Us And Australia: Client Protection And Risk Management Lessons, Susan Saab Fortney

Susan S. Fortney

This essay contrasts the regimes that allow limited liability partnerships in the US and fully incorporated legal practices in Australia. The essay argues that Australia has taken advantage of an opportunity to develop innovative and necessary regulation of law firm ethical infrastructure with the introduction of incorporated legal practices, but the United States has not yet adequately addressed the consumer and ethical risks of limited liability partnerships. This essay raises the issue of whether Australia’s requirement that incorporated law firms should implement “appropriate management systems” to ensure ethical conduct is a model that could fruitfully be applied to all law …

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Human Flotsam, Legal Fallout: Japan's Tsunami And Nuclear Meltdown, Robert B. Leflar, Ayako Hirata, Masayuki Murayama, Shozo Ota Dec 2011

Human Flotsam, Legal Fallout: Japan's Tsunami And Nuclear Meltdown, Robert B. Leflar, Ayako Hirata, Masayuki Murayama, Shozo Ota

Robert B Leflar

We report on our field research in Fukushima Prefecture in July 2011. We interviewed legal professionals and community leaders in Fukushima City and in towns inundated by the March 2011 tsunami and within a few kilometers of Fukushima No. 1 nuclear reactor. We catalogued many of the extensive variety of problems faced by Fukushima residents, both evacuees and those who remained in their homes. Many of these problems, both legal and non-legal, arose from government actions as the disaster unfolded and afterwards, including the administration of the initial program for provisional compensation for disaster victims. We learned that in the …

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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 …

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