Janis Meyer Authors "The Panama Papers—An Incentive for 'Spring Cleaning'" in the New York Law Journal
Janis M. Meyer, a New York-based partner in the Lawyers for the Profession® group at Hinshaw & Culbertson LLP, has written the article titled "The Panama Papers—An Incentive for 'Spring Cleaning'," published by the New York Law Journal on June 10, 2016.
The article discusses the flurry of activity following the high-profile leak of confidential client files from Panamanian law firm Mossack Fonseca. Since the leak occurred, many articles have been published on the subjects of tax avoidance, U.S. and non-U.S. tax loopholes, and the legal profession's alleged role in these transactions. Ms. Meyer's article suggests that while a "discussion of whether the United States should adopt a lawyer regulatory scheme that could mandate 'know your customer' procedures similar to those used in the United Kingdom and a number of other non-U.S. jurisdictions" continues, "lawyers and law firms should view the Panama Papers as an opportunity to do some internal review to (1) determine whether they have procedures in place to avoid running afoul of the law and the applicable ethical rules, and (2) develop or enhance those procedures where needed to ensure that they are protected against a Panama Papers . . . . type incident." She includes review of local counsel procedures as part of this plan and offers some suggestions as to how law firms may accomplish these goals.
Read the full article "The Panama Papers—An Incentive for 'Spring Cleaning'" on the New York Law Journal website. Please note a subscription is required.
Janis Meyer focuses her practice on professional responsibility, risk management, and professional liability law, with particular emphasis on attorneys and law firms. Ms. Meyer is familiar with a broad spectrum of professional liability, human resource, and other risk management issues arising in law firms.