Anti-Money Laundering Rules For Financial Institutions

Law360, New York (November 14, 2011, 1:15 PM EST) -- Are lawyers and other professionals going to be subject to money laundering regulations? Will lawyers have to submit suspicious activity reports? Suspicious transaction reports? Will there be an international registry of all trusts which would include the names of the settlor, trustee and beneficiaries? As recently as April of 2010, France advocated for such an international registry.

By way of background, the Financial Institutions Task Force (FATF) was established in 1989 by the G7 nations of United States, United Kingdom, Germany, France, Italy, Japan and Canada,...
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Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.