The Law Society of British Columbia has hurriedly enacted a number of significant reforms to their professional regulations on the proper use of trust accounts. Public outrage in Canada, regarding news of attorney facilitation of money laundering for clients, and the total lack of indictments of BC lawyers engaged in illegal activities, has spawned reform movements in the legislature, and an uptick in law enforcement investigations into attorney misconduct.
They include specific requirements on precisely what trust accounts may be used for, and prohibition on refunding cash client deposits through checks. See the new regulations below:
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