Description
Attend and earn 1 CPD hour in Professional Skills
This program is based on VIC legislation
Professional Skills
Skills Lawyers with Need with New AML/CTF Legislation
In December 2024 the much-awaited Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2024 received Royal Assent, The new AML/CTF Act includes measures to simplify the AML/CTF regime, however more importantly, it finally implements the Tranche 2 reforms that have been pending for many years. This includes the introduction of a number of new designated services that are traditionally provided by lawyers and will be regulated from 1 July 2026. This session will cover:
- The background context of the proposed expansion of Australia’s AML/CTF laws to legal professionals
- The proposed “new designated services” relevant to legal practices and professionals as a type of regulated “tranche 2 entity”
- The compliance obligations (policies, practices and prohibitions) that will be applicable to legal professionals
- The implications for legal professional privilege
- What lawyers in legal practices can be doing now to get ready for the proposed changes
- The expected realities of “how” this will impact the day-to-day practice of law
Presented by Keddie Waller, AML/CTF Project Manager, Holley Nethercote
Chair
Ric Birkett, Principal Lawyer, Aitken Partners
Presenters
Ric Birkett, Principal, Aitken Partners
Ric Birkett is a principal lawyer in the Commercial and Property Section of Aitken Partners and has been in practice for over 25 years. His practice covers a broad range of corporate, commercial and property work in the commercial and not for profit sectors, including particular involvement in the aged care and retirement living industry (with recognition in the Health and Aged Care list in Doyle’s Guide). His work includes advising a range of clients in respect of governance, compliance, structuring and a range of commercial and property transactions including mergers and the purchase and sale of businesses and business interests.
Keddie Waller, AML/CTF Project Manager, Holley Nethercote
With nearly 25 years’ experience working in the financial services sector, Keddie is highly respected in the financial planning and accounting sectors, having spent many years with CPA Australia including as their Head of Public Practice and SME, and Senior Manager for Public Practice, Financial Planning and Ethics Policy. Keddie has held the positions of Deputy Chair of the FNS Industry Reference Council (2021-2023) and the Technical Representative on the International Federation of Accountants Small to Medium Practices Advisory Group (2019-2023).
