Trust Review Task Force's final report and recommendations

The Law Society of BC is seeking feedback from the legal profession on 40 recommendations contained in the Trust Review Task Force’s (TRTF) final report that seek to strengthen trust accounting rules and address the risk of money laundering in the legal profession.

Background

The TRTF was created to consider the recommendations arising from the Cullen Commission of Inquiry into Money Laundering for rule amendments and to assess the current trust accounting rules and requirements, including client identification and verification. 

The TRTF, comprised of legal professionals from a diverse array of practice types and firm sizes and representative of the diversity of the legal profession, including geographic diversity, engaged in consultation with the profession and a thorough review to consider how to make an already strong system even better. 

Several of the recommendations in the TRTF final report were made in response to the Cullen report and others were made to improve trust accounting rules and to enhance clarity, all while preserving and strengthening their public interest purpose.

With the TRTF final report now complete, we are seeking your feedback on the recommendations. We encourage you to take a few minutes to review the report and provide your anonymous feedback. 

• Review the TRTF final report. A summary of the 40 recommendations can be found on page 46 of the report.
• Provide your feedback