Firm News
FATF Task Force Engages with Treasury on U.S. Mutual Evaluation Review
On Thursday, March 19th, Private Client Services partner, Carolyn A. Reers, representing the American College of Trust and Estate Counsel (ACTEC), participated in a meeting at the U.S. Department of the Treasury with evaluators from the Financial Action Task Force (FATF), the global anti-money laundering and anti-terrorist financing watchdog, which is conducting a Mutual Evaluation Review (MER) of the United States. The purpose of the meeting was to provide input to the evaluators on transparency and beneficial ownership of legal arrangements, ensuring that the perspectives of trust and estate practitioners were represented as the MER moves forward. FATF member nations are evaluated every ten years for compliance with the FATF global standards. The FATF, based in Paris, was established in 1989 by the G7 and sets international standards to prevent international financial crimes, corruption and terrorism.
