Vancouver Sun: Ottawa will attempt to close Fintrac lawyer loophole

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October 6, 2016 | Sam Cooper

Quoted from the article:

NDP MLA David Eby, who is a lawyer, said that his reading of the Supreme Court’s ruling is that judges believed Fintrac’s legislation granted law enforcement too much power to search the legal trusts and offices of lawyers. But the ruling left the federal government room to rewrite anti-money laundering legislation, Eby said. 

For any new Fintrac legislation to pass a Supreme Court challenge, Eby believes, there likely must be evidence that law societies have failed to self-regulate. 

“I hope the Law Society in B.C. is paying attention to the public mood around accountability for issues of tax evasion and money laundering in real estate, and its impacts,” Eby said. “They could look to the example of other self-regulating industries in B.C. like the real estate sector, and the importance of diligently investigating any complaints.”

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