News Release
November 15, 2023

North Vancouver lawyer William Lorne Macdonald has given an undertaking not to practise law for 15 years after admitting to professional misconduct. The undertaking commences on November 15, 2023.

Macdonald admitted that in the course of acting for several clients, he continued to allow the use of his trust account where he ought to have known it was being used to facilitate unlawful or dishonest conduct; as a result, Macdonald assisted his clients in a fraudulent scheme to manipulate the securities market. Macdonald also admitted that he made representations to Hong Kong counsel for his client that he ought to have known were false or inaccurate, and that these representations were made for the purpose of responding to an inquiry from a securities regulator. Further, Macdonald admitted that he received and disbursed funds on behalf of clients without providing substantial legal services and without making reasonable inquiries about the circumstances of the transactions, and that he failed to obtain, record and verify client identification.

In accepting Macdonald's undertaking not to practice law for 15 years, the Law Society considered other conditions Macdonald agreed to, including that he cannot apply to practice law anywhere in the world without first notifying the Law Society. If Macdonald applies for reinstatement after 15 years, he must demonstrate he is of good character and fitness to practice law at a mandatory credentials hearing and comply with any conditions imposed by the panel.

The Law Society recognizes that misconduct by lawyers that facilitates securities fraud poses significant risks to the public, and takes such matters very seriously.  The Law Society appreciates the cooperation of the US Securities and Exchange Commission in this investigation.

For details, see the Rule 4-29 admission and undertaking.