Truth, Transparency, and the Right of Privacy | Synopsis
“Truth, Transparency, and the Right of Privacy,” that’s the subject of today’s ACTEC Trust and Estate Talk.
“Truth, Transparency, and the Right of Privacy is a three-part special:
- Synopsis (this podcast): An introduction and overview to lecture. – posted November 3, 2020
- Part 1: What does truth mean today? – posted November 10, 2020
- Part 2: Lessons learned as the Chair of the Financial Action Task Force (FATF) – posted November 17, 2020
- Part 3: Balancing attorney-client privilege and an individual’s right to privacy – posted November 24, 2020
This is Katherine Ramsey, ACTEC Fellow from Richmond, Virginia. Earlier this year, Past ACTEC President Duncan Osborne of Austin, Texas gave us the 2020 Joseph Trachtman Memorial Lecture on Truth, Transparency, and the Right of Privacy. In this podcast, Duncan will give us a preview of his lecture, which he will be presenting over the next few podcasts. Welcome, Duncan.
Thank you, Katherine. I have, in the past couple of years, become obsessed with the truth because it seems to me like the truth is being abused in many quarters, perhaps most specifically in the political sphere. My obsession with the truth was complemented by work I was doing for the College in its dialogue with the Financial Action Task Force (FATF), which was trying to address money laundering and terrorist financing by making specific recommendations addressing those problems. It was my opinion that the Financial Action Task Force had gone too far in some of its recommendations; that it was abusing the attorney-client privilege and was calling for transparency at greater depths than I thought was appropriate. The issue became, in my mind, what is appropriate in terms of getting the truth out there, and what is the role of transparency? And as I started thinking about that, and also thinking about it in connection with the attorney-client privilege, I became concerned that the pendulum has swung too far. That part of the lawyer’s job is to balance transparency with privacy and that there were too many influences in today’s society, not just the Financial Action Task Force but other situations where there was more transparency than was appropriate; and that led me to think about what the tech companies were doing by collecting personal data, manipulating personal data, and using it to their advantage. And so, the issue of what is appropriate in terms of private information being available versus what kinds of things really need to be kept private became a primary concern of mine; and the more I thought about what the tech companies were doing and how they were doing it, the more I felt like this was a situation that called for more scrutiny and more, frankly, regulation and legislation.
That’s a timely and compelling topic. I look forward to hearing more about it. Thank you for your introduction and we look forward to learning more from you about Truth, Transparency, and the Right of Privacy.
This podcast was produced by The American College of Trust and Estate Counsel, ACTEC. Listeners, including professionals, should under no circumstances rely upon this information as a substitute for their own research or for obtaining specific legal or tax advice from their own counsel. The material in this podcast is for information purposes only and is not intended to and should not be treated as legal advice or tax advice. The views expressed are those of speakers as of the date noted and not necessarily those of ACTEC or any speaker’s employer or firm. The information, opinions, and recommendations presented in this Podcast are for general information only and any reliance on the information provided in this Podcast is done at your own risk. The entire contents and design of this Podcast, are the property of ACTEC, or used by ACTEC with permission, and are protected under U.S. and international copyright and trademark laws. Except as otherwise provided herein, users of this Podcast may save and use information contained in the Podcast only for personal or other non-commercial, educational purposes. No other use, including, without limitation, reproduction, retransmission or editing, of this Podcast may be made without the prior written permission of The American College of Trust and Estate Counsel.
If you have ideas for a future ACTEC Trust & Estate Talk topic, please contact us at ACTECpodcast@ACTEC.org.
© 2018 – 2020 The American College of Trust and Estate Counsel. All rights reserved.
Latest ACTEC Trust and Estate Talk Podcasts
Learn about the risks of using gift and estate tax exemption that could impact the use of the remaining gift and estate tax exemption.
The conclusion of “Truth, Transparency, and the Right of Privacy.” Duncan Osborne shares his views on balancing attorney-client privilege and an individual’s right to privacy.
Pt. 2 of Truth, Transparency, and the Right of Privacy. Duncan Osborne, a chair of the Financial Action Task Force, shares lessons learned from FATF.