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The ABA Standing Committee on Ethics and Professional Responsibility (“ABA Ethics Committee”) released Formal Opinion 463 on May 23, 2013 dealing with the Model Rules of Professional Conduct and the ABA Voluntary Good Practices Guidance for Lawyers to Detect and Combat Money Laundering and Terrorist Financing. The Opinion quotes a 2010 law review article Kevin Shepherd wrote on Gatekeeper issues.

This opinion is significant because it is the first time the ABA Ethics Committee has issued an opinion on a lawyer’s ethical obligations to combat money laundering and terrorist financing. Kevin chairs the ABA Task Force on Gatekeeper Regulation and the Profession, which is the lead ABA entity that deals with anti-money laundering and counterterrorist financing issues as they affect the legal profession.

Click here to view Formal Opinion 463.