News stories, articles and events that may be of interest to our community of legal regulators.
Part 1 of ICLR 2024 conference
This first of two special editions of ICLR news provides an in-depth report of the recent ICLR 2024 conference, together with a round-up of some…Group of 7 Bars and Law Societies Statements on Artificial Intelligence (AI)
The Japan Federation of Bar Associations (JFBA) has endorsed a significant international declaration, the “G7 Bars’ Statement on Artificial Intelligence (AI),” which was officially supported…Solicitors Regulation Authority: Convictions highlight Chinese ‘underground banking’ danger
The recent convictions of seven individuals involved in a Chinese underground banking network highlight the complexities and risks associated with money laundering through informal value…Law Practices at risk of losing client money, and their reputation
The recent sentencing of Victorian paralegal Athena Razos to over five years in prison for embezzling $1.56 million from a prominent Australian law firm has…Legal Services Regulatory Authority of Ireland publishes legal partnerships draft regulations
The Legal Services Regulatory Authority (LSRA) of Ireland is on the brink of introducing a new regulatory framework tailored for legal partnerships, marking a significant…Anti Money Laundering Suspicious Activity Reports thematic review initial findings
The Law Society of Scotland’s Anti-Money Laundering (AML) team has published initial findings from its thematic review of Suspicious Activity Reports (SARs), indicating robust procedures…The role of regulation in promoting diversity – or why the regulator should not stay out of the way
In a recent blog post, Mark Neale, Chief Executive of the Bar Standards Board of England and Wales, rebutted the suggestion from the Chair of…Anti-Money Laundering vulnerabilities analysis
The Law Council of Australia recently commissioned an independent analysis of the risks facing the Australian legal profession in relation to money laundering and terrorism…11th Circuit concurrence makes ‘modest proposal’ for use of AI-powered large language models in legal interpretation
In a recent concurrence from the 11th Circuit’s decision in Snell v. United Specialty Ins. Co., Judge Kevin Newsom explored the potential for AI-powered large…New artificial intelligence tech regulations do not need to reinvent the wheel
Brett McGrath, President of the Law Society of New South Wales (NSW), emphasized the importance of not “reinventing the wheel” in the regulation of artificial…Legal Services Board unveils interactive map and research to drive action to enhance legal sector diversity
The Legal Services Board (LSB) has published an interactive map along with two comprehensive reports aiming to break down barriers within the legal profession that…EU Corporate Sustainability Due Diligence Directive (CSDDD) passed by EU Parliament: What are the implications?
On May 24, 2024, the EU Parliament approved the Corporate Sustainability Due Diligence Directive (CSDDD), establishing stringent new requirements for large companies operating within and…