How lawyers subject to financial monitoring should report to the Ministry of Justice - clarification of the BCU
Attorneys, law firms and associations, in cases where they are specially designated subjects of primary financial monitoring, must submit reports to the relevant interregional departments of the Ministry of Justice of Ukraine.
During its meeting on December 15, the Bar Council of Ukraine approved an information letter on the need for lawyers, law firms and law associations (specially designated subjects of primary financial monitoring) to submit a report to the relevant interregional department of the Ministry of Justice of Ukraine by the 11th day after the reporting period.
The need to inform advocates was emphasized by Valentyn Gvozdiy, the Vice President of UNBA, BCU, who prepared the draft document.
He reminded that the issue of attributing attorneys to the subjects of primary financial monitoring is regulated by the Law of Ukraine «On Prevention and Counteraction to Legalization (Laundering) of Proceeds of Crime, Terrorist Financing and Financing of the Proliferation of Weapons of Mass Destruction».
On June 17, 2022, the Ministry of Justice of Ukraine issued Order No. 2522/5 «Some Issues of Formation of Administrative Reporting by the Ministry of Justice of Ukraine as a Subject of State Financial Monitoring in the Field of Prevention and Counteraction to Legalization (Laundering) of Proceeds of Crime, Terrorist Financing and Financing of Proliferation of Weapons of Mass Destruction», which approved the reporting form No. 1-finmon (annual) and the Instructions for filling out and submitting this reporting form.
The approved information letter contains detailed recommendations for filling out and submitting this reporting form N 1-finmon by lawyers, attorneys and attorneys-at-law who are subjects of primary financial monitoring. The document can be found at the link.
Popular news
Guarantees of the practice of law
Ukraine could be the first to implement a European mechanism for the protection of advocates. What’s holding it back?
Ukraine has a chance to be the first country to ratify the Council of Europe Convention on the Protection of the Professions of Lawyer. Political support for this exists, but the government’s legislative package has not yet been submitted to parliament. Meanwhile, the number of violations of advocates’ rights is on the rise.
Interaction
Energy law: the UNBA and the ADMGE have agreed to cooperate
Advocates will deepen their professional expertise in the field of energy law, and participants in the distributed and flexible generation market will have greater opportunities to obtain professional legal assistance.
Discussion
The Ministry of Defense is preparing new procedures for MMC: what changes are being proposed
The Ministry of Defense is establishing an interagency working group to develop a new procedure for military medical examinations conducted by military medical commissions. Among the issues requiring resolution are the issuance of documents based on examination results, referrals for repeat medical examinations, verification of the medical basis for decisions, and the accountability of military medical commission members.
Legal defence of military personnel
The Ministry of Defense has taken into account the UNBA's proposals regarding medical commissions for those released from…
The Ministry of Defense has included in the draft amendments to the procedure for military medical examinations certain proposals from the Ukrainian National Bar Association aimed at simplifying the process of confirming the circumstances of health impairments sustained during captivity and establishing a causal link to the defense of the homeland.
Interaction
The UNBA is developing a concept for a Center for expert research
The Ukrainian National Bar Association has begun work on a concept for a Center for expert research, which is intended to provide advocates and their clients with access to specialized knowledge and the ability to have expert opinions professionally reviewed.
Discussion
Working with non-residents: where tax risks arise for IT-businesses
What are the tax implications of paying a foreign cloud infrastructure provider, and does a Ukrainian specialist’s work on behalf of a non-resident create a risk of establishing a permanent establishment in Ukraine? The answers depend not on the name of the contract or whether the business belongs to the IT sector, but on the actual substance of the transactions.
Guarantees of the practice of law
Ombudsman calls for a firm response to violence against advocates
Every instance of obstruction of an advocate’s lawful activities, use of physical force, delaying an investigation, or concealment of evidence must be subject to a proper legal assessment. The state is obligated to ensure that the right to a defense is a genuine guarantee.
Discussion
Lobbyists are being offered the status of independent professional practice
Individuals engaged in lobbying are being offered the status of independent professionals. To achieve this, it is necessary to amend the Tax Code and the relevant law, as well as to define the specifics of taxing lobbyists’ professional income and expenses.
Publications
Volodymyr Matsko Extradition during wartime: when the risks outweigh the request
Volodymyr Matsko Extradition as a systemic form of rights violations
Victoria Yakusha, Law and Business The anti-corruption vertical cannot «take care» of the Bar as an institution, - acting head of the HQDCB
Censor.net Protecting advocates – protecting justice: addressing concerns about the new law
Ihor Kolesnykov A BRIEF SUMMARY REGARDING THE APPLICATION OF THE ORDER ON EXTENDED CONFISCATION IN LATVIA REGARDING FINANCIAL ASSETS OF…
Valentyn Gvozdiy WORKING IN A WAR ZONE
Lydia Izovitova Formula of perfection
Sergiy Vylkov Our judicial system is so built that courts do not trust advocates
