As you may know, Benchers have approved amendments to the Client Identification and Verification Requirements, Cash Transactions and Record Keeping Requirements and Uniform Trust Account Rules. We write at this time to remind you that the new rules will come into effect 2 January 2020. The Law Society has posted to its website the following information:

i) a copy of the new rules;
ii) Guidance for the Legal Profession (Prepared by the Federation of Law Societies of Canada’s Anti-Money Laundering and Terrorist Financing Working Group);
iii) sample client identification and verification forms; and
iv) a webinar highlighting the purpose and practical implications of the rule amendments.

To review these resources, please follow this link: https://lsnl.ca/lawyers-students/practice-standards-advisories/

We note, in addition, that Benchers have designated the above-noted webinar as compulsory in accordance with Law Society Rule 6.19, meaning that all members must review the webinar on or before 31 December 2020. The webinar will qualify for 2.5 hours of CLE credit.