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Anti Money Laundering Rules, Amendments to the Regulations of the Legal Profession Act
At the 2021 Annual General Meeting of the Law Society of Prince Edward Island the membership approved amendments to the Regulations of the Legal Profession Act – Anti Money Laundering Rules which will come into effect on September 1, 2021.    In October 2018, the Federation of Law Societies of Canada updated the Model Rules previously adopted by all law societies in 2008 to further help ensure that legal professionals are not unwittingly used by their clients in crimes involving money laundering or terrorist financing activities.   The Model Rules have now been incorporated into the existing Regulations.   Resources to support lawyers and their staff implementing the new rules can be found here.