Tickbox AML regime isn't working
The Gazette quotes Law Society president I. Stephanie Boyce saying the current anti-money laundering (AML) regime should be improved to create a more risk-based approach.
She said: "At its centre, the UK AML regime should be effective at reducing money laundering and terrorist financing. It must be built on an evidenced-based assessment of the risks and what works to mitigate those risks.
"A risk-based approach will be most effective, as it requires regulated persons to focus more fully on those clients and situations which present the greatest risk, rather than conducting a less rigorous, but nonetheless onerous and costly, assessment across a broader range of matters which is not effective in tackling money laundering."
HM Treasury opened a call for evidence in July as part of the government's economic crime plan. A final report setting out the findings of the review and possible options for reform is expected to be published by the end of June next year, reports the Gazette.
Also in Law 360.
London legal walk
Both the Gazette and Legal Cheek cover this year's London legal walk. Thousands from the legal sector turned out to raise money for good causes. The 10km route began at the Law Society HQ in central London.
'Correcting' judgments
The Gazette covers Dominic Raab's ambitions to enable ministers to 'correct' court judgments.
Law Society president I. Stephanie Boyce is quoted saying: "It is vital for a healthy constitution that we maintain the separation between parliament's powers to pass laws, and courts' responsibility to interpret them. We will have to wait to see the detail in any proposals but would certainly look very carefully at anything that would create new ways to overturn judicial decisions."
Courts backlog
Stuart Nolan, chair of our criminal law committee, spoke to Naga Munchetty on BBC Radio 5 Live (from 1:12:30) about the backlog in the criminal courts and delays in accessing justice.
Recruitment experience of Black candidates
Black candidates share their legal recruitment experiences on LawCareers.Net with the piece including quotes from I. Stephanie Boyce.
Also worth a read:
- Solicitor ordered to surrender firm's files – Gazette
- Braverman defends JR reforms - Gazette
- Bannon in contempt - BBC