chevron-down Created with Sketch Beta.

    Washington Letter May 2016

     

    Financial Services

    FinCEN final customer due diligence rule includes language to protect confidentiality of law firm clients

    The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a final rule May 11 that includes key language proposed by the ABA that will protect the confidentiality of law firm clients when new accounts are established at financial institutions on behalf of those clients. The final rule – designed to combat money laundering, terrorist financing and other illicit financial activity by clarifying and strengthening customer due diligence (CDD) requirements for banks and other financial institutions – requires covered institutions to disclose the beneficial owners of entities opening new accounts.

    Featured Articles

    Legislation & Lobbying

    ABA Day draws hundreds of bar leaders to Capitol Hill for annual lobbying event

    ABA Day in Washington, the association’s annual grassroots lobbying event coordinated by the Governmental Affairs Office, brought a record number of state and local bar leaders to the nation’s capital this year to meet with members of Congress on issues of importance to the legal profession. “It is your local voices that have the power to make your congressional delegations stop and listen,” ABA President Paulette Brown told the group.

    Military & Veterans

    ABA expresses concern about some proposed changes to UCMJ

    ABA President Paulette Brown expressed concerns to Congress this month that some of the recommended reforms proposed for the Uniform Code of Military Justice (UCMJ) could cause unintended consequences that should be considered as legislation is crafted to improve the code. Brown wrote May 5 to the House and Senate Armed Services Committees that the ABA commends the comprehensive approach taken by the Department of Defense when it appointed a Military Justice Review Group to analyze the UCMJ and make recommendations for reform.

    Civil Rights & Constitution

    “Miranda: more than words” is theme of 2016 Law Day

    This year’s Law Day featured events around the country focused on this year’s theme, “Miranda: more than words,” to commemorate the 50th anniversary of Miranda v. Arizona, ‎384 U.S. 436 (1966), the landmark Supreme Court case establishing that, prior to custodial interrogation, police have an affirmative duty to warn detained criminal suspects of their right to remain silent and request to have counsel present.