This article by Mayowa Owolabi, seeks to review the state of our Laws (statutory and case law) and the applicable rules of professional conduct as it relates to acceptance of briefs, and the obligation to ascertain that funds charged and received as professional fees by Lawyers in Nigeria, are not derived from unlawful activities, in comparison to global trends and what conforms with international best practice
Background
In a recent Judgement which was delivered by the Court of Appeal on the 14th of May, 2021in a case constituted as App No: CA/L/174/19-FEDERAL REPUBLIC OF NIGERIA v CHIEF MIKE OZEKHOME (SAN); the Court upheld the Ruling of the Federal High Court which held that an earlier exparte order of the Federal High Court which froze the account of the Respondent to the appeal was improperly procured, and was therefore, rightfully discharged.
<p><span>The proposed </span><a rel="nofollow noopener" target=" blank" href="https://www.sec.gov/rules/sro/nms/2021/34-91487.pdf">limitation of liability provisions</a><span> for the Consolidated Audit Trail (CAT) discourages CAT Participants (i.e. FINRA and the Exchange Groups) from advancing the security protection and design of CAT and CAT data. Although the immunity status of FINRA and Stock Exchanges as Self-Regulatory Organizations (SROs) may be broad, including affirmative acts and omissions and failures to act. SROs, however, do not enjoy complete immunity from suits. According to </span><a rel="nofollow noopener" target=" blank" href="https://caselaw.findlaw.com/us-11th-circuit/1122372.html">Weissman</a><span> and </span><a rel="nofollow noopener" target=" blank" href="https://cas
Review, Then Reform? AMLA Charts A Path For The Future Of SARs And CTRs - Government, Public Sector mondaq.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondaq.com Daily Mail and Mail on Sunday newspapers.
Details Written by Justice Department
New York - An indictment was unsealed last week in the Eastern District of New York charging two defendants with failing to maintain anti-money laundering controls, failing to file suspicious activity reports, and operating an unlicensed money transmitting business.
As alleged in the indictment, from 2014 to 2016, Gyanendra Asre, 53, of Greenwich, Connecticut, and Hanan Ofer, 67, of New York, New York, devised and executed a scheme to bring lucrative and high-risk international financial business to small, unsophisticated financial institutions. Asre and Ofer were trained in anti-money laundering compliance and procedures, and represented to the financial institutions that, because of their experience and training, they understood the risks associated with the high-risk business and would conduct appropriate anti-money laundering oversight as required by the Bank Secrecy Act.