Once again, large areas of NSW are dealing with record-breaking floods and my thoughts are with all those affected.

The Department of Communities and Justice has advised practitioners with questions about matters in courts across affected regions to call the NSW Court Service Centre on 1300 679 272.

Natural disasters, like personal tragedies, can have considerable effects on mental health. I encourage solicitors who may be experiencing stress to call the Solicitor Outreach Service on 1800 592 296 for 24/7 crisis help from a qualified psychologist.

AML/CTF consultations - keeping AUSTRAC on-track

One of my Presidential Priorities for this term has been to commit the Law Society of NSW to supporting practices navigate new regulatory hurdles. That work continues apace in advance of changes to the anti-money laundering/counter terrorism financing (AML/CTF) scheme.

In partnership with the Law Council of Australia, we are actively engaged in consultations with AUSTRAC over three major projects: the Rules to support the AML/CTF legislation, Core Guidance for practices, and the AML/CTF Starter Program Kit.

The Kit is a critical piece of work that will include risk assessment and AML/CTF policies, and assist law practices that fit within a “small business” profile navigate the compliance requirements of the Tranche 2 reforms. Indeed, we understand that these practices will be able to use the Starter Program Kit as an AML Program, a key obligation under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.

We contributed to the first round of consultation on the draft AML/CTF Rules in February, and the second-round of consultation on the Rules has commenced. This will include consideration of issues including enrolment, threshold transaction reports, suspicious matter reporting, and exemptions. The Second Exposure Draft of the Rules is here.

AUSTRAC is also developing Core Guidance, which will include guidance on AML/CTF programs, governance, record-keeping and independent evaluations. We will continue engaging with AUSTRAC to ensure it understands the impact of these reforms on the solicitor profession and recognises the importance of providing clear, practical guidance.

As consultations progress and the introduction of the new AML/CTF scheme draws closer, we will continue to update our AML/CTF Hub with the latest information and develop additional resources to support NSW solicitors. For those looking to learn more about the reforms, our interactive course: Preparing your practice for Australia’s anti-money laundering and counter-terrorism financing regime remains available here.

‘Stand-up’ for Golden Gavel glory

The annual NSW Young Lawyers Golden Gavel is a wonderful opportunity to see the funniest of our early career lawyers battle for comedic glory. The breakfast event is again at Sydney’s Fullerton Hotel from 7am for a 7.30am start on Thursday 3 July.

For those who wish to achieve the fame, adulation and the $500 gift card that comes with a Golden Gavel victory, you only have until 5:00pm on Thursday 5 June (next week) to submit your audition video or text.

The subject for the three-minute/500-word audition is Applying the reasonable person test to your daily commute. 

The beauty – and terror – of the Golden Gavel format is that those selected to compete in the final event will only see the subject for their competition ‘set’ less than 24 hours before they are due to take the stage.

In addition to the Golden Gavel trophy and gift card, the winner will compete in the National Golden Gavel. There are also prizes for the Runner Up and Sparke Helmore People’s Choice.

The Golden Gavel is open to early career Law Society members: solicitors either under 36 years of age, or in the first five years of practice. If you nominate someone and they go on to compete in this year’s competition, you’ll also pick up a $250 gift card.

If performing stand-up isn’t your thing, sit down to breakfast and enjoy the laughs. You can book your seat or table/s of 10 here.

Jennifer Ball, President, Law Society of NSW