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This Week's Issue

Move towards entity regulation gathers steam

Yamri Taddese and Donalee Moulton - Monday, May 4, 2015

If the Law Society of Upper Canada starts regulating law firms, one specific area for firm compliance could be trust account management, a new report suggests.
Law societies in Nova Scotia and Alberta have specific compliance rules regarding firm trust accounts, according to the interim report penned by a committee looking into a framework for entity regulation for consideration by Convocation.

“The Nova Scotia Barristers’ Society requires an annual law firm report and a specific trust account report, which must be signed by at least four partners of the firm,” according to the LSUC report. “The Law Society of Alberta requires a number of specific controls on trust accounts.”

Overall, ...


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Inside Story

Monday, May 4, 2015

JOE GROIA AMONG ELECTED BENCHERS
High-profile lawyer Joe Groia is among the benchers elected in the Law Society of Upper Canada bencher election last week.

Others elected in Toronto include current Treasurer Janet Minor, Janet Leiper, Raj Anand, Paul Schabas, Julian Falconer, Christopher Bredt, Sandra Nishikawa, Jeffrey Lem, Howard Goldblatt, Gina Papageorgiou, Sidney Troister, Rocco Galati, William McDowell, Barbara Murchie, Malcolm Mercer, John Callaghan, Peter Wardle, Avvy Yao-Yao Go, and Jonathan Rosenthal.

Outside Toronto, the elected benchers are Robert Evans, Andrew Spurgeon, Raj Sharda, Peter Beach, Jack Braithwaite, Fred Bickford, Teresa Donnelly, Susan McGrath, Jacqueline Horvat, Dianne Corbiere, Carol Hartman, Joanne St. Lewis, Susan Armitage Richer, Virginia MacLean, Michael Lerner, Ross Earnshaw, Paul Cooper, Janis Criger, Jerry Udell, and Anne Vespry.

Turnout in the vote was 34 per cent with 16,040 lawyers having cast a ballot for the 40 elected benchers.

FINANCIAL SERVICES REVIEW ANNOUNCED
Former Law Society of Upper Canada chief executive officer Malcolm Heins will...

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