Global Law Firms as Professional Gatekeepers in Corporate Governance and Financial System Stability

This paper reviews and critically analyses inter-disciplinary academic literature on global law firm governance and anti-money laundering regulation. The hypothesis which emerges from this review is that global law firms are professional gatekeepers in both corporate governance and financial system stability. These dual functions may in turn expose global law firms to a higher risk of financial crime due to their multi-jurisdictional one firm structure and seamless service offerings.