Anti-Money Laundering and Lawyer Regulation: The Response of the Professions
The extension of anti-money laundering (AML) controls to lawyers has been an object of controversy since the early 2000s. Facing these measures, the legal profession has adopted different strategies of response, three examples of which are examined and contrasted in this Article. In the United States, the legal profession vocally objected to the measures and has been able to deflect any legislative action. In the United Kingdom, the profession actively engaged with ambitious new rules, while in France, the legal profession made maximum use of the levers of self-regulation allowed by the European directives. This Article presents AML lawyer-regulation as an example of the versatility of global regulatory norms which do not necessarily evict national traditions. It also presents the European Union as the bedrock of AML regulatory diffusion and critiques US professional resistance to these norms.
Recommended Citation: Delphine Nougayrède, Anti-Money Laundering and Lawyer Regulation: The Response of the Professions, 43 Fordham Int'l L.J. 321 (2019).