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EU High Court Ruling on SAR Filing By Lawyers Highlights Global Debate
By Brian Monroe
printA recent decision by the European Court of Justice upholding a requirement that lawyers must report the suspicious activities of their clients in certain circumstances brings into relief how countries outside the European Union – including the United States – are dealing with "gatekeeper" initiatives of their own. Across the EU, countries are working against a December deadline to craft their own versions of anti-money laundering laws to satisfy the EU's Third Money Laundering Directive that requires lawyers, among others, to file suspicious activity reports on clients in an effort to bring member states in line with recommendations by the...
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