« Weekend video: A different kind of leadership thinking | Main | Conduct and disclosure obligations for financial advisers »

Draft AML/CTF Rules for 'exempt legal practitioner service'

Austrac has issued draft AML/CTF Rules to define the term 'exempt legal practitioner service' under section 5 of the AML/CTF Act. It will apply to legal practitioners who provide designated services relating to 'a custodial or depository service' (item 46) and 'a safe deposit box or similar facility' (item 47), when undertaken in the ordinary course of legal practice, but do not apply when those designated services are provided by a legal practitioner who supplies financial services under the Act.

A public consultation period is open from 22 May 2009 to 5 June 2009.

May 24, 2009 in Anti-money laundering | Permalink

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341d4c5453ef01156fac292f970c

Listed below are links to weblogs that reference Draft AML/CTF Rules for 'exempt legal practitioner service' :

Comments

The comments to this entry are closed.