The publication of the Panama Papers, and later the Paradise Papers, shone a spotlight on the scandalous circumstances in which clients may misuse the services of lawyers, accountants and other professionals. Those disclosures specifically came to bear on offshore commercial structures and trusts, and the role of lawyers in the establishment and conduct of those structures. While there are many legitimate purposes, those structures may also facilitate potentially illegal conduct.
Closer to home, this led directly to AML/CFT coverage for lawyers and professionals being accelerated in New Zealand, after the John Shewan report. With Mossack Fonseca, other firms, and the legal profession in the media sights like never before, the International Bar Association and the Organisation for Economic Co-operation and Development set up a joint Taskforce to look at the role and responsibilities of lawyers in this area.
The joint IBA and OECD Report was published in May 2019. Australian lawyer Robert Wyld, the principal author of the Report, presents the findings, and fellow member of the IBA anti-corruption division Gary Hughes links to issues arising for New Zealand lawyers.
- Learn more about the context of the Panama Papers and later disclosures.
- Gain a better understanding of lawyers’ ethical duties, legal privilege and confidentiality.
- Learn more about anti-bribery/corruption measures, and unwitting association with financial crime.
- Consider how this Report impacts AML/CFT, as well as client due-diligence and ultimate beneficial ownership.
Who should view?
All lawyers who may have to grapple with privilege, confidentiality and ethical dilemmas. Law firms who are AML/CFT reporting entities. Lawyers engaged in company, trust establishment, or facing beneficial ownership issues. Litigators who appear in the courts.
Access details will be delivered via email within 15 minutes.
Johnson Winter & Slattery (Sydney)
Robert specialises in dispute resolution and has advised many national and international clients, including individuals, public and private companies and statutory authorities in the banking and securities, telecommunications, health and pharmaceutical, aviation, construction, power and energy industries on all aspects of dispute resolution issues and arbitration.
His work focuses on competition, commercial crime and fraud, anticorruption and bribery investigations (on employment and business conduct) and prosecutions, sanctions, moneylaundering, extradition and domestic and international taxation related disputes in Australia and overseas.
Robert was the Co-Chair of the International Bar Association (IBA) Anti-Corruption Committee for 2015 and 2016 inclusive. He appears regularly across the Australia media as a specialist and expert on bribery, corruption and ethical business issues.
Akarana Chambers (Auckland)
Gary Hughes has a legal practice covering a wide range of regulatory issues and proceedings. He takes briefs ranging from handling investigations and providing compliance advice through to court prosecution, appeals or judicial review.
Gary is a competition/antitrust expert with over 20 years experience and is also widely regarded as New Zealand’s leading Anti-Money Laundering lawyer, having worked on specialist AML/financial crime matters since 2007.
Before commencing practice as a barrister, Gary was a partner at top litigation boutique Wilson Harle. His experience also includes leading national firms (Chapman Tripp) and global firms (Clyde & Co, London).