MONTH-IN-BRIEF (Aug 2022)
Ethics and Professional Responsibility
Second Draft of AML-Related Amendments to Model Rules Under Consideration
In anticipation of the ABA Annual Meeting recently held in Chicago, two Standing Committees — on Professional Responsibility and on Professional Regulation — prepared a second discussion draft of potential amendments to the Model Rules of Professional Conduct to enhance lawyers’ due diligence with respect to clients potentially engaged in money laundering and related activities. The first draft from December 2021, as previously reported, had been limited to consideration of amendments to the comments accompanying Model Rule 1.2; the current draft considers amendments to both the blackletter and the comments.