The Michael and Suzanne Borrin Foundation has announced the launch of two new individual Fellowship awards that will be awarded annually, with a value of $200,000 per annum. These are the first of a number of fellowships, scholarships and grants for individuals that the Foundation will be announcing in coming years, to support and celebrate outstanding legal professionals working towards the Foundation’s vision of an Aotearoa New Zealand where everyone understands the role and value of the law, and enjoys the protection and opportunity that it provides.
Recent changes to the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) regime impose significant obligations on a limited number of barristers. This article provides an update on the NZBA’s efforts to seek a class exemption for barristers to better align the regime with the day-to-day realities of legal practice.
The AML/CFT Amendment Act 2017 extended the AML/CFT regime to cover a range of new entities—including many lawyers.
The aim of the regime is important, seeking to improve New Zealand’s ability to tackle money laundering and the financing of terrorism. But the changes impose stringent obligations for those affected, requiring significant changes to the day-to-day practice of some barristers.